The transformative potential of modern CLM solutions

Modern CLM drives far greater business impact than traditional contract management by using AI to connect separate teams and their valuable data:

AI-powered insights and automation

Today’s leading contract management software uses artificial intelligence to turn every contract into a source of business intelligence.

With Concord’s AI Copilot, you can:

• Instantly extract and summarize key terms, parties, and deadlines from any document, no manual review required.

• Flag risky clauses or unusual terms before signing a contract.

• Ask plain-language questions (e.g., “What are the renewal terms?”) and get immediate, actionable answers right inside the document.

Learn more about AI Copilot

Data-driven decision making

Modern CLM solutions do more than store contracts — they transform them into live data assets for strategic analysis.

With Concord, you can:

• Benchmark vendor, customer, and contract performance over time to identify cost savings and risk.

• Build custom reports and dashboards to support compliance, audit readiness, and financial forecasting.

• Surface trends across your contract portfolio — so business and executive teams can make faster, smarter decisions.

Explore Concord contract analytics

Cross-functional collaboration

Contract management touches every corner of your business.

Concord enables seamless collaboration by:

• Allowing legal, sales, finance, procurement, and other teams to work together on a single, up-to-date contract.

• Supporting real-time redlining, version history, and in-line comments, so everyone is always working from the latest document.

• Providing role-based access and audit trails, keeping the process secure and compliant across departments.

See how Concord facilitates collaboration

Key considerations for a successful contract automation software implementation

While modern CLM can provide substantial business value, it’s not automatic. Successful implementation requires careful planning and strategic approach. According to Gartner, up to 50% of first-time CLM implementations fail to deliver expected benefits due to unrealistic expectations or inadequate planning.

Organizations considering CLM investments should focus on these critical factors:

1. Establish clear objectives and success metrics

Before starting, define what “success” looks like for your contract automation initiative.

• Identify urgent pain points (slow approvals, missed renewals, compliance risk).

• Involve stakeholders from different business teams to align on priorities.

• Set measurable goals: cycle time reduction, error rates, contract visibility, and adoption.

Concord’s guided onboarding helps teams quickly set and track KPIs, so you see return on investment, not just activity, from day one.

2. Secure cross-functional buy-in

Effective contract automation requires buy-in across business functions.

• Involve champions from each business function that touches contracts from the beginning.

• Address each team’s unique needs (e.g., legal compliance, sales velocity, finance controls).

• Highlight how automation removes busywork and gives every team greater visibility and control.

Concord’s intuitive interface and minimal training needs make adoption seamless for non-technical users, accelerating organization-wide alignment and usage.

3. Prioritize user experience

Adoption hinges on ease of use.

• Choose software that’s intuitive and requires little training, so users will be productive from day one.

• Look for platforms with accessible design, in-app guidance, and responsive support.

• Consider mobile and remote needs: users should be able to draft, review, and sign contracts from anywhere.

Concord is designed for universal adoption, with an interface so familiar, most users need no formal training. E-signature, AI extraction and search, and collaboration tools are all available instantly, on day one.

4. Plan for integration with existing systems

Contracts don’t exist in isolation.

• Ensure your solution integrates natively or easily with your CRM (Salesforce, HubSpot), storage (Google Drive, Dropbox, Box), communications (Slack), and other business systems.

• Favor platforms with open APIs and plug-and-play connectors for minimal IT overhead.

• Prioritize straightforward migration of legacy contracts and user data.

With Concord, core integrations and a central repository are ready to use on day one. Import contracts in bulk, sync data with 5,000+ business apps, and get instant e-signature and search — no waiting for a “phase 2” rollout.

5. Take a phased implementation approach

Traditional CLM rollouts can drag on for months before teams see value, but it doesn’t have to be that way.

• Select a platform that delivers critical capabilities — central repository, AI extraction and search, e-signature, customizable approval workflows — immediately.

• Use a “land and expand” model: launch core features quickly, then add custom workflows, reporting, or integrations as your needs evolve.

• Celebrate quick wins: every automation step should reduce friction, not add more.

With Concord, you get a fully functional CLM on day one — no long wait for repository access, e-signature, or basic automation. Most customers achieve full rollout in a matter of days, with measurable process improvements in the first month.

Measuring ROI: quantifying the value of procurement contract management software

Establishing a compelling business case for contract management software means demonstrating a clear, measurable return on investment. According to a Forrester analysis, organizations that implement a CLM solution have realized an average 356% ROI over three years, including millions in contract processing cost savings.

Direct cost savings

• Free up staff time by automating contract drafting, review, approvals, and management

• Reduce legal costs by limiting reliance on outside counsel for standard contracts and amendments

• Eliminate administrative burdens with digital document storage and automated workflows

• Cut printing, shipping, and physical storage expenses

• Prevent costly errors with automated clause extraction, obligation tracking, and version control

Revenue enhancement

• Speed up revenue recognition and deal closure with faster contract cycles

• Capture more value from every contract by surfacing key terms and obligations automatically

• Stop revenue leakage through proactive alerts and renewal management

• Negotiate better pricing, discounts, and other terms leveraging real-time data insights

• Improve renewal rates and customer retention with automated reminders and enhanced visibility

Risk mitigation

• Lower the risk of compliance violations and associated penalties

• Decrease the chances of disputes and litigation with transparent audit trails and standardized processes

• Head off service disruptions and missed obligations with automated renewal alerts

• Minimize data privacy and intellectual property exposure through robust access controls and permissions

• Demonstrate compliance confidently during audits with comprehensive reporting

By quantifying these benefits, and comparing them to implementation and ongoing subscription costs, procurement, legal, and finance leaders can build a compelling business case for CLM investment. Most Concord customers see break-even within months and ongoing ROI as process efficiency, risk reduction, and revenue gains compound over time.

The future of contract lifecycle management

As technology evolves, several major trends are reshaping CLM in 2025 and beyond. Leading organizations are already leveraging these innovations to stay ahead of risk, compliance, and operational efficiency.

1. Generative AI capabilities

Generative AI is fundamentally changing how businesses create, negotiate, and analyze contracts. Next-generation CLM systems now offer:

• Automated contract drafting based on business rules and playbooks

• Intelligent clause suggestions and fallback language tailored by negotiation history

• Risk assessment and scoring for proposed edits or terms

• Plain-language translations that make complex legal concepts accessible to business users

• Predictive analytics to forecast negotiation outcomes and flag high-risk positions

By streamlining contract processes, generative AI empowers contract teams to focus on strategic, high-value work.

Concord’s AI Copilot is at the forefront of this movement, helping users create, review, and analyze contracts faster and with more confidence than ever before.

2. Blockchain for contract authenticity and execution

Blockchain technology promises new standards for contract security, transparency, and automation, including:

• Immutable, tamper-proof audit trails for contract history and signatures

• Smart contracts that self-execute in response to specific conditions

• Decentralized storage for reduced risk of single-point failures

• Enhanced protection of sensitive information through distributed ledger encryption

• Automated payments and milestone triggers built into contract terms

While still in early adoption for mainstream CLM, blockchain is a compelling direction for organizations seeking bulletproof authenticity and smarter execution.

3. ESG compliance and monitoring

With environmental, social, and governance (ESG) factors now front and center, CLM platforms are evolving to help organizations:

• Track sustainability commitments and carbon disclosures in supplier contracts

• Monitor and document diversity, equity, and inclusion requirements

• Align contracts with corporate social responsibility (CSR) objectives

• Prove compliance for ESG reporting to regulators and investors

• Manage third-party and supply chain risks related to ESG performance

This strategic focus positions CLM as a key driver of responsible business and risk management.

4. Expanded self-service capabilities

Modern CLM platforms are democratizing contract processes for business users, while preserving compliance and control:

• No-code, guided contract creation interfaces for non-legal stakeholders

• Automated, risk-based workflows that escalate only exceptional or non-standard cases

• Self-service contract review and approval for high-volume, low-risk agreements

• Real-time performance dashboards and status tracking for stakeholders

These features increase agility and operational efficiency, enabling legal teams to focus on strategic matters and helping every business unit manage contracts with confidence.

Concord was an early pioneer in the creation of easy-to-use workflow building tools that enable legal teams to set up self-serve contracting flows for procurement, sales, and other business teams.

By adopting these innovations, cutting-edge businesses are not only future-proofing their contract management, but unlocking new levels of insight, automation, and value — positioning their teams for success in the evolving digital economy.

Contract management maturity model

Organizations typically progress through several stages of contract management maturity: