Does your CLM solution offer a repository? Does your CLM solution enable Word authoring? Does your CLM solution support workflows? These simple questions—and about 100 more like them—constitute the typical checklist RFP template used by most companies seeking a contract lifecycle management solution. But, straightforward, though it may be, this approach to selecting a CLM software solution is grossly inadequate.

There are three primary reasons why companies should steer clear of the simple yes/no feature list when seeking a CLM solution:

1--Most RFP templates that rely on this line of inquiry are created by vendors to emphasize the features they are most proud of; your real need for those features is of secondary importance.

2--Virtually all products in the marketplace have the same feature set, so simple yes or no answers to availability questions do not enable you to clearly differentiate between offerings.

3--The only reason to implement a CLM solution is to resolve a problem or improve a process; no matter how many features are present in a solution, unless those features can be applied to your specific scenario, they will be worthless to you.