Are CLMs worth it? Just joined my first in house position; am the only lawyer and currently all contracts are all saved on GDrive with no other organization. My main desire is to get them organized/stay on top of deadlines and make sure the right people know their obligations, but it seems like I can do this on excel. The ones I’ve demoed have lots of neat workflow features, but I’m not sure they are really worth it for the small volume of deals we do. Appreciate any insight!

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Posting as :
works at
You are currently posting as works at

Just wait until you go through sell-side M&A diligence without one. It’s a disaster.

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Basically I’ve never used a CLM before so don’t know if they are really worth it for smaller organizations. I’ve demoed with Concord, Juro, HighQ, and DocuSign. HighQ and DocuSign were really expensive, Juro seemed a bit clunky, and Concord was the cheapest and seemed fine for our bare bones needs, but looks like others have had bad experiences in here with Concord.

Concord is hot garbage. Stay far away.

Value depends on where you see the work going. If one person and low volume, probably not beneficial. If you want to track terms, organize agreements (including if you want to offer self service to your business), or the volume is going to grow, CLM is more valuable. Also, starting good habits is much easier than the alternative.

Experience: 4 yrs managing process for around ~ 9k contract executions a year globally.

I spent 18 months screening and implementing our first CLM. We went with agiloft. It can be a lot of work and there can be massive amounts of training involved withixed buy in from business. It's great for organizing contracts and tracking milestones but can defiybe a huge lift. We're a 20 person global department so needed something. Agiloft would not work well for a department of 1

CLMs are definitely worth it. Implementing our CLM has been one of my team’s most successful and popular projects thus far. It’s a win-win for every department within the organization — not just Legal. After an extremely lengthy researching and vetting process, we went with Agiloft. Highly, highly recommend it. It is a lot of work but definitely worth it.

Also agree with previous poster to stay far away from Concord. We initially went with Concord but realized our mistake before we even reached our 3 month anniversary and decided to just count it as a loss and move on. If you want to discuss in more detail, feel free to send me a DM.

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