A contract or an agreement is a legally binding arrangement between two or more entities. Contract Management (CM) or Contract Lifecycle Management (CLM) is the process of managing contract creation, analysis, execution, and maintenance. Conga CLM is a cloud-based solution that standardizes, streamlines, and automates the contract lifecycle management process—from the initial request through drafting, redlining, sending for signatures, securing documents, managing obligations, and renewing contracts.
The following flowchart depicts the Contract Management process:
Conga CLM lets you create a contract from a pre-loaded template(s) or import a third-party document as an offline agreement document. Contract Management works with optical character recognition software to scan imported third-party papers and convert them to a searchable PDF. You can send your agreement documents for eSignatures if Contract Management is integrated with eSignature solutions—Adobe Sign and DocuSign. Contract Management is able to provide a set of standard or customized, reports to track activity status, expirations, non-standard terms, etc. You can also use Agreement Explorer to configure and reuse searches and reports.
An agreement goes through the contract management lifecycle according to the workflow defined by the application administrator. Your access to all the features of Contract Management depends on the roles and permissions assigned to you by the application administrator.
Conga CLM allows a user to perform the following tasks:
- Work with agreements
- Send for review
- Manage agreement lifecycle post-activation
- Work with offline agreements
Review an agreement created by intelligent import
Store an executed agreement
- Manage document and template versioning
- Run the contract wizard to automate agreement creation
Create, run, and delete an Agreement Explorer report
It is important to understand how terms are used when working with Conga CLM.
|Agreement||The set of terms and conditions agreed between two or more parties. An Agreement consists of structured Salesforce data and stored language dynamically generated into a static document.|
The actions available at various stages of the agreement such as Preview Agreement, Generate Agreement, Regenerate Agreement, Generate Supporting Document, Send for Review, Send for Signatures, Import Offline Document, Activate, Amend, Renew, Expire, Terminate, and Cancel Request.
A document generated by merging information stored in a record with an existing template.
A configurable and reusable search and reporting feature that allows you to search records in the agreement object.
It is a feature that allows you to specify protection settings for agreements.
A solution framework for document versioning at the agreement record level.
Modular blocks of text that are used frequently across multiple templates.
A wizard that prompts the end user to answer a series of on-screen questions, and then creates the Agreement record.
Intelligent data extraction functionality lets you import a third-party paper. Conga CLM works with optical character recognition software to scan the imported third-party paper and convert the document to a searchable PDF.
You need to have an Intelligent Import license to process third-party paper in Conga CLM.
A third-party paper that you want to use as a basis for your contract.
An organization (org) is a Salesforce instance with a defined set of licensed users. An org is the virtual space provided to by Salesforce. Your org includes all of your data and applications, and is separate from all other orgs.
A collection of fields that store information about a specific item of a specific type (represented by an object), such as a Contact, an Account, or an Opportunity.
Allows you to offer different business processes, picklist values, and page layouts to different users.
|Redlining||Allows you to identify the changes made by reviewers and accept or reject changes according to your business requirement.|
A blueprint to generate a wide variety of document types when merged with data from agreements or quotes.
Document versioning at the Template level to track template versions against generated documents.
A set of permissions granted to a group of users for the purpose of limiting feature accessibility. According to a user's role in an organization, an Administrator can assign a profile to the user. There are five basic profiles associated with Conga CLM—Administrator, Contract Manager/Template Admin, Read Only, Requester/Approver, and Contract Creator/Negotiator.