Nova CLM, uniquely provides a rational, powerful and complete Contract Lifecycle Management platform that propels fast-growing companies and global enterprises. Nova CLM contract automation streamlines sales and procurement processes, delivers more control and compliance within organizations in legal matters and improves both sales and procurement performance. With proven technology, comprehensive services and expert guidance, Nova CLM helps companies around the world turn contract management into a revenue driver.
Contract Life-cycle Management
Nova CLM provides a comprehensive, powerful, advanced and flexible framework for rapidly and easily adopting contract life-cycle management within your organization by integrating with business processes. The aim is to provide a huge competitive advantage at the top-most stage of business: contracts and deals. It enables the intuitive and easy contract management: by adopting it contracts are capable of being proactive engaging and triggering events and delivering automation of business-related items within contracts, such as service levels, service or product delivery, economic management, due dates, risk management and performance management through advanced and customized scorecards.
We have developed a set of proprietary technologies and API’s resulting from a 9-years long experience in the market. These technologies are open and enabling third party integration such as ERP’s, Document Management systems or any other existent enterprise tools.
Nova CLM model of Contract Life-cycle
The Vision of the entire life cycle of contracts and their business commitments is one of the most innovative features in Nova CLM. Some these features are unique among the CLM solutions available in the market.
Vendor & counterparts directory
This feature addresses the need for a central directory for vendors and customers/counterparties. The Vendor & Counterpart Directory (VCD) provides a central repository of counterparts and vendors complete with roles and legal-oriented additional information (signing persons, legal referrers, etc). The VCD can be synchronized with other systems such as ERP or Accounting systems by means of custom data integration via Nova CLM API’s.
This feature addresses both VRM (eProcurement) and CRM (Sales). For the e-Procurement process management Nova RFx provides a parallel database of contacts and possible new vendors. With Nova RFx A the organization has the opportunity to classify contacts with sets of customized criteria for creating invitation lists for tenders or RFQ and RFI. By combining vendor performance with contract metrics and the Vendor Benchmark information our customers enhance their ability to better value their bargaining power and organizing, combined with Nova RFx, specific tenders or RFQ for vendor revision or replacement.
RFx – Tender
This feature addresses e-Procurement reverse auctions and tender management. Within Nova it’s possible to create Requests for Information (RFI), Requests for Proposal (RFP) and Requests for Quotation (RFQ) in a very streamlined process for corporate transparency and enhancement of bargaining power. This happens before signing agreements and enables the right path towards a new vendor deal.
- Tender templates and assisted compilation for contents.
- Requirements management.
- Vendor Compliance management, for mandatory features and/or documentation.
- Activities track and calendar.
- Manages both negotiated procurement & Small purchases, F&OC and OFOC.
- User defined measuring metrics (scoring and ranking).
- Vendor interactive web channel (collaboration).
- RFI, RFQ, RFP and RFT (Tender)
Configure Price Quote (CPQ)
This feature addresses sales force automation and quotation management. The Configure Price Quote (CPQ) add-in for Nova CLM addresses the need for simplification and enhancement in the quotation tasks. Complex inter-relations between products and their cross-selling possibilities become clear and easy for sales representatives and channel partners. The product knowledge base offers a simple interface that provides details, quotation and discount limits, proposes bundles and controls constraints. The target-market orientation of Nova CLM enables more control of different quotations according to geographical areas or dealers. This means selling more, faster and better.
This feature addresses the need for an internal legal repository, a library of provisions, terms and conditions. Nova clm offers the most powerful clause management available on the market for full control of legal issues such as international law, risks & liabilities, business issues and corporate compliance in contract creation, in different languages and for different jurisdictions.
The provision directory provides a secure and managed repository of contractual contents according to corporate compliance, legislation and legal approval terms. The creation workflow produces documents from the provision directory to ensure the correct language is used in all contracts. The immediate benefit is the minimization of risk caused by using outdated or incorrect language and the use of wrong clauses.
Provisions are, for the same contractual concept, available simultaneously in different languages and are linked to business or local constraints according to the target market. Risk and liabilities annotations and further instructions are also available for every clause so that both knowledge and company rules help the users while authoring. Nova CLM allows a rich Juridical Annotations management for explaining to users the need and aim of a certain provision within the whole contract.
The creation and authoring phase is one of the most important in the entire life cycle of any CLM system: by starting it the right way, with the Nova CLM proficiency, most of the critical factors and quality & compliance needs are satisfied. The generation of a contract or legal document is guided by a four-step wizard so that available choices can help users reaching their target faster. This also allows operations or sales area users to produce consistent documents without need or intercession of the Legal Office while respecting company rules.
This feature addresses the need for security profiles for users. Nova CLM has functionalities based on a rich and comprehensive Role-based privilege scheme.
Contract Content Management
This feature addresses the management of contract contents. Contract modeling and content management is performed in Nova CLM by a flexible and seamless combination of the Nova CLM Template Engine and Kontxt, the Nova CLM contract WYSIWYG editor, two powerful tools embedding business rules and enabling the proper contract creation process.
This feature addresses the need for standard contracts. Nova CLM Template Engine is flexible and offers the ability to use both complex contract structures and simple documents with managed optional attachments. Templates contents are managed in a secure administrative environment by a special category of users, typically Legal advisors or external users of contracted Legal Firms.
Templates are target-market oriented (market jurisdiction and language) and are classified by nature, business area and type. Once templates have been published they are available for users to produce new documents. The end use of templates ranges from simple letters and notifications to contracts of hundreds of pages.
This feature addresses the need for standard flexible structures of contracts. To manage contract content means creating value from the provisions that compose them.The use of standard templates is common and widespread, much less usual is to the creation of these templates from a normalized collection of clauses.
Any contractual provision can be considered as a set of rules and therefore deserves to be managed and treated independently, while remaining together in the structure of a contact. The ensemble of provisions, collected and ordered, form the scheme of a template. That’s the main use of Nova CLM’s normalized provision directory: managing all details and relations between items for different target markets. For better normalization Nova CLM allows classification of provisions organizing them by topic and priority. At the end a considerable advantage is achieved both in timing and negotiations, for the best results at the lowest risk.
This feature addresses the need for managing legal documents, other than contracts. Extended Domains of Documents. Nova CLM offers the special opportunity of managing additional legal documents along with contract structures. Among this type of documents you can find letters, orders, notifications, emails and many other communications. This is fundamental for building an exhaustive legal vision of any counterpart or any project.
Nova CLM Template Engine offers the ability to produce simple documents and manage them with the same abilities and benefits of complex contract structures, in the same dashboard, with full search capabilities, sharing and metrics features.
Integrated Attachment Production
This feature addresses the need for standard attachment structures of any complexity level. To run the whole lifecycle of contract generation means also consider carefully those documents that are attached and closely related to each contract type. In some business areas and in certain transactions attachments have equal or even more importance than the agreement itself.
Attachments can vary according to company rules, opportunity, and can both be personalized for each project and also be plain static documents. With Nova CLM the organization keeps under control any attachments with automatic and configurable procedures for the collation of the attached documents, no matter how many or complex they are.
This feature addresses the need for generating documents compliant with the corporate identity guidelines. Corporate styles are easily integrated into Nova CLM templates to deliver a consistent look and feel across all output.
This feature addresses the need for user friendly editing. The Nova CLM contract editor offers a simple user interface for dealing with contract contents in the fastest and simple way, with automatic completion. The user-friendly interface covers both the simple documents and the complex contract structures. For simple documents the interface is WYSIWYG and compatible with the most famous document editor in the market thus providing all necessary desktop publishing needs. For complex contracts the interface enables easy editing and managing all provisions, preambles and items in the contract simulating on-screen the final document.
XML & open standards
This feature addresses the need for open and advanced data exchange standards. Our innovative technology gives you a chance to make savvy contract in XML standard. This establishes the framework for contracts stamped up with semantic labels and intelligent content. This semantic web of business contracts offers unmatched empowerment for contract analysis, sharing and contract accomplishment.
Author-defined fields &variables
This feature addresses the need for automatic insertion of contents and its customization. All documents have their contents managed by the kontxt Nova CLM Editor: this allows edge customization and reduces human errors such as typing errors. This benefit is extended also by the ability for authors to define custom fields with custom contents. Fields can express any contract properties, internal names or other parameters or meta-data.
Cross-Reference & Numbering
This feature addresses the need for automatic numbering of chapters and their dynamic referencing inside a structure of contract. The kontxt Nova CLM Editor performs auto-numbering and internal cross-references during the assembly of generated documents.
This feature addresses the need for tracking all changes in the system. Nova CLM keeps track and audit trail of all contents and operations.
This feature addresses the need for tracking and tracing content changes and eventually fall back to previously edited versions. Full version control on all content: precedents, files, answer files and shared Clauses / re-usable modules are all versioned. Optional integration with third-party revision control systems is available for the best change tracking experience.
International legal contents& jurisdictions
This feature addresses the need for producing contracts for different languages and jurisdictions. The Nova CLM Template Engine supports multi-language and multi-juridical contract content management. The content of clauses in multiple languages are also matched and complemented with legal notes for the target market.
The interface of Nova CLM is also available within the organization in different languages, allowing international companies to provide the same tool to different subsidiaries in the world.
This feature addresses the need for interfacing Nova CLM to users and customers or counterparties in the same organization or workgroup in different languages. Along with the contents of the contracts users of your multi-cultural environment can work together each one in a different language with the same interface.
Interface languages supported by Nova in all editions are English, Spanish, German, Italian, French. Other interface languages are supported on demand for any additional language.
Document Open Standards and Exchange
This feature addresses the need for adopting open and reliable standards for the electronic exchange of complex structures such as contracts. Nova CLM is committed to the open standards and adopts ODT, OASIS e-Contracts XML and Legal XML formats for ultimate contract exchange and storage.
The e-Contracts is an open XML set of standards for the markup of contract documents to enable the efficient creation, maintenance, management, exchange and publication of contract documents and contract terms. By adopting these standards documents can output in many different formats without losing important meta-data and can be exchanged with third party intelligent systems.
Document Production & Output
This feature addresses the need for producing generated documents in different formats. Contracts output primarily in XML format and can be exported into the following formats for sharing/integrating with other systems and means:
- HTML and copy protected HTML.
- Microsoft Word® native and compatible formats.
- RTF (Rich-Text Format).
- ODT Open Document Text Format for Office Applications (ODF specification).
- Oasis standard, ISO/IEC 26300:2006/Amd 1:2012.
- Adobe PDF.
- PS Postscript for high quality print out.
- Any additional customer requested format.
Mandatory Counterpart Requirements
This feature addresses both e-Procurement and Corporate Compliance needs for quality management and auditing. According to organization’s policies, it’s necessary to process some due diligence controls before starting a legal commitment. This is performed easily within Nova CLM and linked to any level of rules for contract production. For instance, for a new counterpart involved in Real Estate construction contract it’s necessary to provide economic guarantees before proceedings.
This feature addresses the need for sharing and assigning approval and control tasks to different stakeholders in the complex scenario of contract production. What distinguishes a simple document container from a real scheme of management of the complete Contract Lifecycle is the ability to access and manage all data contained in them, and that they are relevant to your business, quickly and safely. This is the real value that allows a company to become a centre of excellence, always a step ahead of others.
Thanks to its modularity, which embodies Nova CLM, becomes possible to see, at any time and from anywhere, a unique and centralized data base, tailor-made according to the varied functional requirements and business needs. Reports, statistical analysis, metrics and analytics, and always up to date generated automatically thanks to Nova CLM, they will become your loyal ally in every strategic decision. Nova CLM allows you to make choices even more so responsibly and even anticipate your needs for a structured growth of your business
- Ad hoc approvals.
- Multiple levels of approver.
- Mobile approvals.
- Email notifications of approval tasks and activity.
- Audit log of workflow steps, with comments.
This feature addresses the need for asynchronously discussing and negotiating provisions with counterparts online. External collaboration, discussion of contract provisions is possible through Nova clm Exchange for negotiating asynchronously with the counterparts. All notes and oppositions are tracked and maintained in an audit log.
This feature addresses the need for providing real-time help and assistance to users when using Nova CLM. Nova CLM offers fully customizable real-time help and assistance tools embedded with customers’ business rules. Information about processes is directly accessible from every page of Nova CLM so that users are informed and assisted real-time with examples and additional help about what they are doing.
This feature addresses the need for enabling a fast paperless environment while certifying signer’s identity and digital documents altogether. In a fast-paced business environment, it’s crucial that enterprises streamline operations, reduce the reliance on paper and maintain document integrity. Nova CLM supports Electronic Signature and integrates it in its automated processes. Nova CLM allows standard signatures by providers following NIST FIPS PUB 186 specifications.
This feature addresses the need for assess and ensure that contracts are created following all needed constraints. A contract Terms & Conditions conformity is a matter of coordination, control and implementation of the right scheme between the legal and compliance units. Lack of such a structure and its pragmatic regulations is the source of legal risk such as penalties, lawsuits, damages in business partnership, contract resolution or disputes.
Along with the T&C conformity organizations usually have business driven rules that also need to be addressed during the contract creation: these are met by combining the workflow organization in Nova CLM and the Check Lists for Approval; furthermore, Nova CLM supports integrated auditing processes with Nova QAA.
Check Lists for Approval
This feature addresses Corporate Compliance needs for quality management, auditing and accounting.
According to the nature of contracts Nova CLM locks proceeding with the contract workflow until an internal Checklist control is fully performed and satisfied. Checklists are linked to nature or target of the contract and their contents is monitored within a continuous and automatic audit. By following this behavior maverick contracts are blocked and filtered before any possible damage to the organization.The use of checklists solves with flexibility any administrative compliance issues.
The contract dashboard is a centralized and simplified –yet complete- interface for managing all main activities related to contracts.
Contract Management Repository
This feature addresses the need for a centralized secure container for all contracts and legal documents. The Contract Repository is the heart and soul of a CLM system. Nova CLM provides a centralized reference point for contracts creating a paperless environment where contracts and their contents and attachments are just a click away and in a safe place.Nova CLM can also integrate with your existing document management system (DMS) or enterprise content management (ECM) platform. Nova CLM’s repository also provides:
- Multi-level security ensuring that only authorized personnel create, edit and read documents and contracts.
- Catalogue and Classification features, allowing to classify contracts by their properties, targets or other criterion and allowing users to tag their documents.
- Workflow for approval, collaboration and execution.
- Version control, tracking document and contract revisions.
- Audit log of changes.
- Powerful search features enabling users to quickly find documents based on.
- Reminders, tasks and alerts helping users comply with deadlines and important dates.
Content Directory &Cross Reference
This feature addresses the need for classifying those relationships existing between different legal documents. Relations parent-child between agreements,such as Master agreements and related agreements and other contract related legal documents, are easily and clearly manageable so that derived contracts and derived relations are visible immediately.
This produces the benefit of a better vision and control in the customer-supplier relationship.
This feature addresses the Business Delivery needs such as Service Levels execution and accounting. Within the business rules inside an agreement the ability of doing is generally documented in Service Levels. In traditional document management systems key SLA information has no relevance and is just “something inside the file”. With NOVA CLM service levels are precisely documented and exposed for execution both in SOA (within the Enterprise Content Management systems) and/or translated into orders and execution plans for existing OLA with vendors and partners.
This Nova feature enables the direct Business Delivery of services within the execution of Contract signing thus providing real-time customer product/service delivery.
- SLA’s are mapped inside the contract.
- SLA’s are available in all major international SOA exchange formats for web services or accounting.
- SLA’s automation is provided by our partner and top-class solution BpDelivery.
This feature addresses the need for automation and integration for services after contract execution. The contract accomplishment starts immediately after the contract execution (signature). In the digital world service levels are detailed inside Nova CLM provisions and Nova CLM SLA mapped data structures. In the analogic world integration of these service levels with other processes allow automation of the contract effects; for instance, the signature of the agreement could trigger automatically accounting and service/product delivery.
Nova CLM partners and integrates BPdelivery PIDOCU (www.bpdelivery.com) the sole cloud business solution provider in the market that enables the ordering and delivery processes with a fully automated with the same setup.
Contract Risk Management
This feature addresses the need for controlling all different due dates existing in agreements. In Nova CLM due dates are classified in many different domains and concern not only the agreement itself but also all its attachments and related documents. With Nova CLM you have the full due dates calendar of all commitments. External or Enterprise calendars can also be easily integrated with Nova CLM.
This feature addresses the need for mapping and controlling obligations. The Obligation Management in Nova CLM provides a dynamic control of all the obligations provided in a contract -both active and passive – and consent to promptly react at them.
This features address the need to manage the effectiveness of the penalty application where provided, in order to maximize the efficacy of the related contract. A real-time instrument to check the fulfillment of the counterparts obligations, takes control of its own obligations and activates the consequent actions means a tangible revenue and risk control.
Metrics Performance KPI
This feature addresses the need for measuring vendor and counterparts performance and metrics. A contract management system that aims to be comprehensive and efficient should provide workflow automation for approval and their control, so your organization can safely proceed to the signature of the contract. Obligations assumed through a contract in fact have a significant impact in several functional areas, legal, financial, commercial and operational and each of them must be aware and informed, pointing specifically its approval. The traceability of approvals is simplified and integrated n the scheme Nova CLM, making it leaner, functional and safe, with the specific aim to control and minimize risk.
Nova CLM is structured for overcoming delays caused by in the approval cycle. Starting from a collaborative approach in fact, Nova CLM allows us to isolate the single difficulty with precise indication of deviations from the standard so that it can be considered and managed without slowing down the whole process, reaching thus a final approval that is consistent with policies and fully acknowledged by all stakeholders of the process. Is thus obtained an easier process, slender and safely, without neglecting in any way the safety. Thanks to its interface also you can have at any time view of the status of approval and evidence of compliance or otherwise of each clause to the standards set allowing you to make the best choices in defense of corporate interests.
This feature addresses the need for tracking and auditing all processes of critical situations in the legal field and the participation of external lawyers and legal Firms. This feature addresses the need for controlling all the activities related and connected with a judicial proceeding together with the need to control the costs of the proceeding itself and value the lawyer performance. Nova CLM manages all the aspects of any kind of dispute starting from the correct assignment to an external entity, the document sharing trough a protected platform, automatic report and costs control thus taking care of most of the back-office activities and giving organizations a tool to deeply control the activities and risks related to these matters.
LPO – Legal Outsourcing
This feature addresses the need for measuring and managing the legal outsourcing. Nova LPO is the tool that allows you to easily manage and coordinate all activities in managing the legal team, whether it be internal and external. Through its functionality you will be able to optimize most of the administrative tasks, have a complete and updated every single practice, monitor the work of external consultants, control costs, and to have all information needed to make business decisions with significant impact on management costs. Proposing to bypass or eliminate the administrative and back office is generally raises objections and that leads to the administrative and back-office difficulties in the outsourcing but most of the human entrusted operations, with considerable time and a large margin of error, can be easily and safely automated.Thus Nova LPO allows you:
- Assign directly to external professional practice through pre-set parameters;
- Have instantly view and control of operating costs;
- Share all documents with the outside in a protected environment and shared:
- Have an updated in real time the progress of each case;
- Check and get early warning of any maturity and / or fulfillment through their automatic scheduling;
- Obtain performance metrics and reports automatically.
Using Nova LPO So not only will reduce the time spent in the back-office, but also you will obtain a huge advantage on the power to control efficiently and timely the value of the work of the legal team. All the tools to make important business decisions and strategy will be available at any time, wherever you are.
VRM – Vendor Relationship Management
This feature addresses the need for control in the customer-vendor relationship and the need for measuring the bargaining power. Few solutions on the market offer a complete Vendor directory management embedded with the clm. Nova CLMVendor Directory is a powerful feature for having a VRM vision of counterparties and managing bargaining power.
To vendors, VRM is the customer-side counterpart of CRM (or Customer Relationship Management). VRM tools provide customers with the means to bear their side of the relationship burden. They relieve CRM of the perceived need to “capture,” “acquire,” “lock in,” “manage,” and otherwise employ the language and thinking of slave-owners when dealing with customers. With VRM operating on the customer’s side, CRM systems will no longer be alone in trying to improve the ways companies relate to customers. Customers will be also be involved, as fully empowered participants, rather than as captive followers.
VRM is part of a larger picture as well: it enables new approaches for privacy -and security-aware sharing of information, without the risk of losing control of that information. VRM is based on the belief that “free customers are more valuable than captive ones” — to themselves, to vendors, and to the larger economy. So, to be free, Customer must:
- Enter relationships with vendors as independent actors.
- Be the points of integration for their own data.
- Have control of data they generate and gather. This means they must be able to share data selectively and voluntarily.
- Be able to assert their own terms of engagement.
- Be free to express their demands and intentions outside of any one company’s control.
VRM in Nova provides customers with both independence from vendors and better ways of engaging with vendors. The same tools can also support individuals’ relations with schools, churches, government entities and other kinds of organizations. This is performed by specific metrics and analytics, vendor-oriented discovery and taking full advantage of the Nova VCD (Vendor & Counterparty Directory) integrated.
This feature addresses the need for extracting relevant information about all contract related data
All the most important items of contract data are available through a set of customizable and wizard-driven reports.
- Data is available within a few clicks through a user friendly interface;
- Includes standard reports for things you need to analyze on a regular basis;
- Allows ad-hoc reports and queries;
- Has different output options, for screen consultation, for printing or for spreadsheet analysis.
- Allows data to be transformed via ETL and shared with other data warehouse and business intelligence systems.
Secure Hosted and Self-Hosted options
Nova CLM is available as a fully hosted solution with our own dedicated, customer country located Cloud data centers to ensure a fully secure service with comprehensive business continuity and disaster recovery mechanisms in place. In-house self-hosted is also possible according to customer needs.
Independent and open standards
Nova has a commitment to open standards and platform independence for the best flexibility and choice. Our solution runs on Windows, Linux or in the Cloud (SaaS).Our systems are also browser independent so, you’ll receive the best of our interfaces no matter what browser you choose -Firefox, Safari, Chrome, Vivaldi or others.
Robust Development Program
Committed and successful track record in delivering User Group requests for expansion to functionality across the system.
Nova Real Estate
The situation of Real Estate Management in organizations with owned real-estate or leased (offices, warehouses, industrial facilities) has plenty of room for optimization in terms of processes, data management, data sharing and collaboration and -above all- planning solutions. The Registry of Locations is often handled in two ways: by using vertical tools or hand-made. In such situations it is difficult to have a really centralized database.
Locations management is complex as a whole and needs a wide range of information and operations in terms of processes, compliance controls and planning. Nova RE aims to solve this by providing a central working platform for:
- Master Database
- Cadastral registry
- Contracts and legal documents Integration
- Technical documentation
- Blueprints and lay-out maps |
- Administrative and accounting data
- General and technical expiration dates
- Business category assignments & Accounting data
Each of the entries in the list above represents a considerable number of processes and documents. Streamlining these processes and building the central communication system for all of them is Nova RE’s job.
RFx – Tender
This feature addresses eProcurement and it’s named Nova RFx B
Within Nova it’s possible to create Requests for Information (RFI), Requests for Proposal (RFP) and Requests for Quotation (RFQ) in a very streamlined process for corporate transparency and enhancement of bargaining power. This happens before signing agreements and enables the right path towards a new vendor deal.
- Tender templates and assisted compilation for contents.
- Requirements management.
- Vendor Compliance management, for mandatory features and/or documentation.
- Activities track and calendar.
- Manages both negotiated procurement & Small purchases, F&OC and OFOC .
- User defined measuring metrics (scoring and ranking).
- Vendor interactive web channel (collaboration).
- Request-Bid-Award-Negotiate (RBAN) model.
- RFI, RFQ, RFP, RFT (tender).
Mandatory Counterparty Requirements
This feature addresses both eProcurement and Corporate Compliance needs for quality management and auditing. According to organization’s policies, it’s necessary to process some due diligence controls before starting a legal commitment. This is performed easily within Nova CLM and linked to any level of rules for contract production. For instance, for a new counterparty involved in Real Estate construction contract it’s necessary to provide economic guarantees before proceedings.
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