The SAP Contract Lifecycle Management (SAP CLM) application helps you automate contract creation, ensure instant contract visibility, and achieve compliance to contracted pricing, terms, and commitments on an enterprise-wide basis.

With SAP CLM, you can accomplish the following:

• Contract creation and process management – Provides a contract workspace that captures all contract overview information, helps you manage contracting tasks, and generates contract documents from approved and standardized contract templates and clause libraries.
• Legal contract generation – Utilizes standard templates and clause libraries along with your personal selections to create legal agreements in Microsoft Word.
• Document management and collaboration – Provides standard document management tools, such as check in / check out, comments capture, versioning, secure third-party document access, and review and approval workflows.
• Item and term management – Allows for the capture of robust item and term data by contract type, enabling you to establish items, pricing, and discount structures within operational contracts and catalogs.
• Compliance management – Helps you create operational contracts in the back-end directly from the contract workspace, ensuring the use of the contract in practice. SAP CLM also supports performance and audit activities, such as milestone tracking and supplier reviews.
• Repository and search – Enables controlled access to the entire contract repository with powerful search functionality.
• Workbench, dashboards, and reporting – Provides an entry portal for end users to see their daily work tasks and updated reports, such as contract repository, contract values, language usage, contract expirations, performance alerts, non-compliance reports, and Sarbanes-Oxley-related reports.