NEWS FROM OUR PARTNER THE EXCHANGE CONGA WINTER 2021 Contract management solutions play a significant role in digital transformation and the customer experience, especially as businesses move into 2021 and plan for future disruptions. With fewer in-person deals being conducted and a growing focus around maintaining compliance and security in digital transactions, legal teams and organizations are looking to contract management solutions for answers. AppExchange partner Conga has identified several factors that are driving businesses to adapt and implement contract management solutions with increasing urgency. REMOTE WORKFORCE VOLUME OF CONTRACTS With employees working remotely, As businesses become financially affected 1businesses need a reliable, cloud-based 2by the pandemic, a larger volume of contract lifecycle management (CLM) contracts requires revisions. Legal teams solution like Conga CLM that allows need a tool like Conga CLM to help them legal teams to securely access copies of easily find, review, edit, and revise contract contracts and important data on demand terms and force majeure clauses. from anywhere. MULTIPLE STAKEHOLDERS GLOBAL BUSINESS There is an increased chance for error when International business operations and a global 3legal teams have to identify and track the 4customer base expose enterprise organizations changes made by different approvers while to the risk of litigations in regional markets. Legal DRIVING maintaining multiple contract versions. teams must ensure the organization adheres Conga CLM has a central repository that to local laws, which can be costly, especially if keeps track of and manages different disputes arise and must be solved. Conga CLM DIGITAL versions, while also offering notification and can reduce such risks and support the global reminder features to help legal teams track operations with smart contract terms within the the edits from various stakeholders. system that guide legal teams through local laws TRANSFORMATION to save time, effort, and money. Six reasons businesses COMPLIANCE REVENUE LEAKAGES With the constantly changing rules of An inability to track renewals, missing are evolving 5engagement, adhering to compliance 6payment cycles, and nonfulfilment of standards is always the topmost priority for contract clauses due to manual processes their contract the legal department. Failing to comply with and traditional tools often results in revenue the governing laws can cause a huge loss leakage. Conga CLM can prevent these management of revenues and reputation. Conga CLM losses with the ability to send notifications helps ensure organizations comply with such and reminders to task owners. solutions. governing bodies and limit risks. LEARN MORE ABOUT CONGA SOLUTIONS FOR LEGAL ON APPEXCHANGE. 15