Hidden costs

All-in-one Contract Management Systems (or CLMs) are far more expensive than what you think.

You need to pay a person full time to setup and maintain the system. They’re often more expensive than the system itself!

If you don’t have that person, you have to hold off your deployment until you do. In the meantime, you’re going to be losing money to the problem you’re attempting to fix.

Deployments take months (or years) before they’re ready, so you’re losing money to the problem during implementation as well.

You need to coordinate and retrain your whole commercial organisation to use a new product. By this point, the excitement has faded. Good luck getting buy-in from all the people whose workflow you disrupted.

Start small. Bank wins along the way. Run for the hills if the burden is on you to set it up.