Vlocity Clm (2024)

FAQs

What is CLM in Salesforce? ›

What is CPQ and CLM in Salesforce? In Salesforce, CPQ (Configure, Price, Quote.) is an approach and software to generate accurate quotes in sales processes. On the other hand, a CLM (Contract Lifecycle Management) approach and software focuses on managing contracts to streamline agreement processes within Salesforce.

Centralize contracts and get visibility. Accelerate deals by automating the contract lifecycle. DocuSign CLM (Contract Lifecycle Management) for Salesforce allows you to streamline the contract lifecycle by automating manual tasks, orchestrating complex workflows, and eliminating unnecessary risk.

Salesforce Vlocity, or Salesforce Industries, is used to create industry-specific processes, workflows, and applications on the Salesforce platform. It helps businesses in various industries streamline their operations, enhance customer experiences, and drive digital transformation.

Contract lifecycle management (CLM) is the process of digitally managing agreements made with customers, vendors, partners, or employees through every stage of the cycle, and encompasses creating, managing, sharing and archiving business contracts.

CRM concentrates its efforts on fostering, observing, and nurturing customer relations. This often manifests in tools designed to manage customer engagement and track sales data. CLM takes a broader view, examining the customer's journey from first contact to loyalty and advocacy.

Contract lifecycle management (CLM) automates and streamlines contract processes during key stages. These stages include initiation, authoring, process and workflow, negotiation and approval, execution, ongoing management and compliance (within the repository), and contract renewal.

The main difference between CPQ and CLM solutions is that CPQ software is used to generate pricing and quotes, while CLM software is used to generate and manage contracts. In other words, the solutions automate admin work for different stages of the sales cycle.

Apttus is the largest organization in the world it mainly enables large enterprises to modernize their legal operations and revenue by bringing processes and objects of all businesses together onto a single platform. Apttus CLM is a key solution for enterprises to create, deliver, and manage contracts faster.

Sectors such as technology, healthcare, finance, real estate, and manufacturing heavily rely on CLM to manage contracts efficiently and effectively. These industries often deal with complex contracts and regulatory requirements, making CLM an essential tool for streamlining operations and mitigating risks.

What is the difference between Vlocity and Salesforce? Salesforce is like a toolbox for managing customer information and business operations. It's versatile and can be used by all kinds of businesses. Vlocity, on the other hand, is like a set of special tools that you put on top of the Salesforce toolbox.

Why did Salesforce buy Vlocity? ›

Vlocity built vertical-specific Salesforce customizations on the Lightning Platform, which made incorporating them into the Salesforce universe quicker and more straightforward than software from other companies Salesforce has acquired, France said.

Vlocity CMT enables you to track premises and assets at a premises. A premises is a physical location and its associated assets. You can capture prospect interest by premises. You can also execute premises-based campaigns.

Contract lifecycle management (CLM) refers to software used for managing contracts from generation to ongoing management and eventual renewal or termination. Table of contents. Document generation. Negotiation and collaboration. Workflows and signing.

Contract lifecycle management overview

Contract lifecycle management (CLM) automates and streamlines contract processes during key stages.

As contracts become more complex and multi-jurisdictional, legal departments need to make contract drafting and approval scalable and replicable. A contract lifecycle management (CLM) system may be a solution busy departments with growing workloads need.

Contract Lifecycle Management (CLM) is the process of managing a contract from its creation through execution and renewal.

Contract Lifecycle Management (CLM) Defined

Effective and proactive contract lifecycle management is achieved through the use of contract management software. Having a CLM system streamlines these critical stages, from initial drafting to final renewal, by automating workflows and centralizing contract data.

CLM. displays the % upper and lower confidence limits for the expected value of the dependent variable (mean) for each observation. By default, the 95% limits are computed; the ALPHA= in the PROC REG or MODEL statement can be used to change the level.