Contract Lifecycle Management (CLM)
Kroll’s contract management team works with leaders in CLM software and has the seasoned expertise needed to analyze and enhance how your company manages contacts throughout their lifecycle.
We believe a contract is much more than a formality. It is a living document that drives value, with the potential to cause loss at any stage in its life. Our contract management solutions team has the expertise to analyze and enhance how your company manages contracts throughout its lifecycle.
We understand the various elements involved in contract management and can interpret the scope of each element within a contract to optimize the value of each contract, by offering unparalleled support for clients of all sizes - and at any stage.
We have extensive experience selecting, implementing and upgrading systems. We also have partnerships with several leading CLM software companies:
Conga Contracts (currently a unit of Apptus)
Contract Management Expertise
Centralized Contract Repository
Our experts can help you choose the right solution, migrate physical and digital contracts into a single system for seamless, holistic management, and guide your team to ensure:
- Optimal tracking and reporting to ensure: no contracts are misplaced, no terms missed and increased visibility for compliance
- Efficient remote access and no information silos: users can connect and work in partnership remotely, enabling collaboration across all stages of contract management, including templates and clauses
- Effective use of templates: To avoid version control issues that lead to a waste of legal resources
AI and Contract Management Automation
There are dozens of vendors touting revolutionary artificial intelligence (AI) capabilities for contract management. Our team has the frontline expertise to select the best solution for your organization. Our clients see:
- Decreased feedback loops and cycle times for approvals and reviews
- Reduced amount of iterations with standardized language
- Granular management and automation of the entire contract lifecycle, from requests and renewals to approvals and workflows
Improve Your Process Efficiency
Even mature organizations may experience inefficiencies over time or face new challenges when new integrations or templates are introduced, especially when faced with new M&A activity. Here’s what our seasoned contract management consultants can do:
- Handle the collection and ingestion of enormous contract sets—physical or digital
- Help evaluate and optimize your contract process, shortening approval and review time
- Build effective continuous improvement plans
Ensure Contract Compliance
A streamlined business process provides contract accountability. From request to approval, our experts ensure every contract is held to compliance standards, giving you the control you need. We help you:
- Identify, capture, assign and track completion of tasks assigned to business owners
- Ensure no critical terms are deleted and that the right people have edited the document
- Avoid the risk of contract termination or litigation
End-to-End Contract Lifecycle Management Expertise
You can count on Kroll to better track, manage and automate every granular step of the contract lifecycle. Talk to one of our contract management experts today.
Advisory and Consulting Services
Strategic initiatives that align the legal department’s corporate-driven goals with its internal management agenda.
Information Lifecycle Management
Key insights and data management solutions to unlock value in physical and electronic files.
Processes and strategies to manage and optimize information produced through M&A, divestitures and integration.
Outside Counsel Management Services
Broaden your realm of outside counsel management, promoting cost control and diversity initiatives.
Legal Management Consulting
Advisory for technical innovation and process insights.
Help to optimize key legal processes through improved management of work product and vendors.
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