The Universal Contract Model (UCM) is a contract model allowing contracts to be modeled showing their relationships to each other, and allowing prevailing terms to always be visible/available. In addition, it also includes a selection of data fields related to different contract types, allowing reporting across contract types.
One of the key design elements is to agree on a global data model that facilitates all reporting, search, contract management data, etc.. The UCM data fields should make up the majority of these, in order to use other standard offerings e.g. workflows and reports.
- Do you have a standardized set of data fields used for contract management and reporting?
- Which fields are common across your contracts? Which are specific to a given contract type?
The UCM data model is expressed and defined in the . The spreadsheet contains the latest set of variables (i.e. interview questions) of the Model Implementation Template. (Please note that familiarity with Smart Template logic files are required to fully understand spreadsheet content.)
From a design perspective, the overriding guidance is to use UCM data fields, rather than . However it is not practical to adopt every single UCM data field. There is no set number, however on average you are looking for about 50-70 fields being adopted.
- The data points are meant to display a summary. If the actual clause needs to be reviewed, this should be done within the contract. As such, many fields within the UCM data model relate to clauses, however the data being captured is not the clause itself, but rather the existence of it and to which party(ies) it applies.
- To operationalize buy-side contracts, there are certain fields that are mandatory. (Refer to Create a Coupa Contract Record from CLM Advanced for details.) Ensure that these are included in the model when buy-side contracts are in scope.
- When reviewing data fields, do consider Child contracts (i.e. Orders), Amendments, Terminations, etc. as well.
Things to avoid
- When presenting the UCM data model, do not attempt doing so using the UCM Description & Dependencies spreadsheet right from the start. It is much better to run the Model Implementation Template, showing the data points used in context.
- Do not start collecting data for a UCM data field just because it is in the model. Unless this field helps to inform an actionable decision, it is just a nice to have field.