• June 25, 2024

Conga Launches Contract Lifecycle Management Offerings on its Conga Platform

Conga today added a contract lifecycle management (CLM) offering independent of Salesforce to its lineup. The artificial intelligence-enhanced solution is available on the Conga Platform and can integrate with any CRM, enterprise resource planning, or procurement platform.

Conga's CLM includes new AI models extract text and data from contracts and tables and Conga's AI-enabled drag-and-drop bulk document import capabilities. Other features include the following:

  • Pre-defined workflows, approval processes, and templates;
  • Greater accuracy and ability to handle larger volumes of contracts using AI;
  • New large language models (LLMs);
  • Risk scoring and suggestions to mitigate risk before or after signing when preparing to renegotiate; and
  • 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, in a statement. "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."

"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 of Conga, in a statement. "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 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."

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