Coupa offers a comprehensive suite of Business Spend Management (BSM) tools for a broad range of customers and markets. It includes the Coupa Contract Lifecycle Management (CLM) system, which provides control and efficiency across the entire contract lifecycle.
Coupa's CLM system offers a wide range of features designed to streamline the entire contract management process, from inception to completion. These core features include:
Centralized Contract Repository: Coupa CLM provides a secure, cloud-based platform for storing and organizing contracts, making it easy for users to access and track vital documents. The centralized repository ensures version control, reducing the risk of errors and miscommunications.
Automated Contract Drafting: Coupa CLM speeds up the contract drafting process by offering customizable templates and clause libraries, which allow users to create legally compliant contracts in a fraction of the time. The system also supports automated clause selection based on predefined rules and criteria, minimizing the need for manual intervention.
Intelligent Redlining and Negotiation: Coupa CLM's intelligent redlining feature enables users to compare different versions of a contract and track changes made during the negotiation process. This allows for real-time collaboration between parties, expediting negotiations and ensuring a transparent and efficient process.
Approval Workflows and e-Signatures: Coupa CLM streamlines the contract approval process by automating the routing of contracts to the relevant stakeholders. The system also supports integration with e-signature providers, ensuring legally binding contracts can be executed swiftly and securely.
Post-Execution Management and Renewals: Coupa CLM simplifies the management of executed contracts by providing automated reminders for key milestones, such as renewals and performance reviews. This ensures that legal professionals stay on top of their obligations and deadlines, minimizing the risk of non-compliance.
