BURIED TREASURE:
Why Legacy Contract Migration is Essential for Your Business — and How the Right CLM System Unlocks its Potential
Legacy contracts – those vital documents scattered in different online repositories, hard drives, or even in their physical form in drawers or folders – are the equivalent of buried treasure for the business. Properly migrated, organized, and analyzed legacy contracts provide incredible insights, boost contract visibility, mitigate risk, increase compliance, and identify new revenue and cost savings opportunities.
However, many modern organizations need help finding a cost-effective way to bring these critical documents into their system to get these benefits. A Contract Lifecycle Management (CLM) system can help — but what sort of features should that CLM system provide to deliver effective contract migration for today’s fast-paced business environment?
In this comprehensive guide, we will take a deep dive into these topics, exploring exactly what makes a legacy contract, the challenges behind (and importance of) importing legacy contracts, and what to look for when upgrading to a CLM system that gets the best out of your legacy contract migration.