What is negotiation space in SAP CEC-SAL-CLM - Contract Lifecycle Management?

SAP Term: negotiation space

• Component: CEC-SAL-CLM

• Component Name: Contract Lifecycle Management

• Description: Workspace that enables CLM users to work collaboratively in a secure environment to create, redline, and negotiate contracts.

Smart SAP Assistant

• Key Concepts: 
  Negotiation Space is a feature of the Contract Lifecycle Management (CLM) component of SAP CEC-SAL. It is a secure, online platform that allows users to collaborate on contract negotiations with external parties. It provides a secure environment for exchanging documents, negotiating terms, and tracking progress. 
  
  How to use it: 
  To use the Negotiation Space feature, users must first create a negotiation space. This can be done by selecting the “Create Negotiation Space” option from the CLM menu. Once the negotiation space is created, users can invite external parties to join the space and begin negotiating. The negotiation space provides tools for exchanging documents, negotiating terms, and tracking progress. 
  
  Tips & Tricks: 
  When creating a negotiation space, it is important to set clear expectations for all parties involved. This includes setting deadlines for when negotiations should be completed and outlining any rules or guidelines that should be followed during the negotiation process. Additionally, it is important to ensure that all parties have access to the same information and documents in order to ensure an efficient and successful negotiation process. 
  
  Related Information: 
  For more information on using the Negotiation Space feature of SAP CEC-SAL CLM, please refer to the official SAP documentation or contact your SAP representative. Additionally, there are many online resources available that provide tips and tricks for successful contract negotiations.