Product(s): Agiloft CLM Platform
Overall Comment:"Agiloft Contract Lifecycle Management (CLM) is a low code software which allows users (even non-technical) to manage the complete contract lifecycle on a common platform right from to vendor selection to execution consisting of negotiation, pricing structure, legal structure and can be used by multiple departments within the organization like Finance, Supply Chain, Operations, HR etc."
The most interesting part about this product is its common platform which can be easily used by multiple departments within the organization. It is also built on a low-code direct user interface platform which can be easily used even by non-technical users and does not require intense training sessions which eventually saves bandwidth. It also comes with integration with AI which helps users in vendor selection, price comparison, legal framework and folder wise staging of the required documents for the contract signing and execution which does not allow users to take much time to search and access the required files.
Since it comes with a complete package module, it might not be beneficial for the organization with lower volume or lower contractual programs as it might not be cost efficient for them, till a certain limit, they can manage their complete contractual information and documents through some free version software available in the market. Also, it does not provide a cloud-based storage system which might lead to deletion or loss of files due to any malware or software attack which forces users to keep the readily available backup of each and every file.