Conga Launches New Contract Lifecycle Management Offerings on its Conga Platform
June 25 2024 - 8:04AM
Business Wire
Market-leading solutions enhanced with AI allow
ease of integration with the CRM and ERP systems of customers’
choice
Conga, the pioneer and market leader in Revenue Lifecycle
Management, announced today a new Contract Lifecycle Management
(CLM) offering designed to run on the Conga Platform adding a full
SaaS alternative to its traditional Salesforce based user
interface. The AI-enhanced solution is available on the Conga
Platform, offering a CLM interface that can integrate with any CRM,
ERP, or procurement platform.
With productivity demands increasing and the global business and
legal environment constantly evolving, there is never-ending
pressure to improve revenue and profit on a tight budget. But too
often, companies find themselves trapped in the Revenue Friction
Zone, slowed by isolated technology, fragmented data, siloed
problem-solving, reliance on large functional teams, and poor buyer
experiences. Meanwhile, contracting teams face increasing demands
while dealing with large, manual workloads.
Conga’s CLM with AI empowers businesses by mitigating risk,
reducing contract creation to close time, and helping cut supplier
costs. New state-of-the-art AI models increase accuracy and extract
text and data from contracts and tables. With Conga’s AI-enabled
drag-and-drop bulk document import capabilities, customers save
valuable time and create highly precise AI models in minutes,
eliminating the need to train the AI.
This new Conga CLM provides unparalleled flexibility for
customers by streamlining operations, eliminating internal silos,
and connecting contract data and processes so departments can
easily access the contract terms and data needed to achieve their
goals.
Only Conga CLM provides the following unique combination of
features:
- Start delivering value faster by ensuring contract compliance
while streamlining processes with pre-defined workflows, approval
processes, and templates for faster implementation
- Greater accuracy and ability to handle larger volumes of
contracts using AI
- Immediately extract and define custom provisions leveraging new
large language models (LLMs)
- Risk scoring and suggestions to mitigate risk before or after
signing when preparing to renegotiate
- AI that adapts to each customer’s business as it evolves based
on their actions
“Conga CLM on the Conga Platform gives businesses the ability to
manage contracts and access data in the systems they use daily
while helping them improve performance,” said Grant Peterson, Chief
Product Officer of Conga. “Our CLM not only helps accelerate
contracting success across teams, empowering legal, sales,
procurement, and finance to enhance visibility and make quick and
informed decisions, but ensures compliance, while driving stronger
results.”
Legal departments today face increasing workloads without the
staff to accommodate the change. Conga’s AI helps Chief Legal
Officers and legal teams scale up their workload while providing
the oversight needed to take control of risk management strategies
and manage more contracts. Conga’s solutions deliver better
contract outcomes with state-of-the-art data extraction, instant AI
models, and legal data verification services to ensure the data
businesses rely on is accurate and easy to access and report on.
The ability to automatically connect contract data and processes
across departments breaks down internal silos, empowering everyone
to work where they want and access the information they need.
“Today's business leaders have a unique opportunity to gain a
revenue advantage, but achieving that requires a team effort. As a
decade-long leader in CLM and AI, Conga offers an experienced team
and the comprehensive technology to empower any department to get
what they need from contracting,” said Andrew Bennett, Chief
Marketing Officer at Conga. “We’re proud to offer new, modern
solutions designed to help businesses conquer the most intricate
contracting challenges. As a result, our customers experience
benefits like receiving a rapid payback on their CLM investment in
as little as six months, recouping at-risk revenue by tracking
renewals, taking timely pricing actions, and identifying potential
supplier savings to deliver a revenue advantage.”
Visit conga.com to learn more or attend Conga’s June 2024
product launch webinar series on June 25, 2024 at 11:00 am ET to
hear what’s new, now, next, and future for Conga CLM.
About Conga
Conga, the Revenue Company, is the pioneer and market leader in
Revenue Lifecycle Management. Its platform is chosen by the world’s
growth champions to accelerate the end-to-end revenue lifecycle and
achieve a Revenue Advantage. Conga brings Configure, Price, Quote,
Contract Lifecycle Management, and Document Automation capabilities
together on a single open platform that works with any ERP, any
CRM, and any Cloud. Conga is born for the top line—powered by a
unified revenue data model, complete revenue intelligence, and
purpose-built AI—to help companies grow, protect, and expand their
revenue.
Conga delivers a Revenue Advantage to over 10,000 customers and
6.4 million users around the world. More than 7 million contracts
and 46 million quotes are generated annually with Conga. Founded in
2006, the company is headquartered in Broomfield, CO and has
offices across the United States, India, and Ireland. Visit
conga.com for more information.
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version on businesswire.com: https://www.businesswire.com/news/home/20240625265858/en/
Addie Reed FINN Partners on behalf of Conga
addie.reed@finnpartners.com 312-766-5515