Contract management professionals of all types are in the age of digital transformation. Organizations need to correctly leverage contract management tools to adapt successfully. As with any practice, mistakes in contract management are quite possible. Contract management teams leveraging obsolete, manual methods are even more likely to commit CLM errors – resulting in contract lifecycle bottlenecks, missed key dates and milestones, and lost revenue. Mistakes in contract management must be avoided. Read this blog to discover six common mistakes in contract management – and how they can be evaded with the help of contract management software.
The contract lifecycle is a great way to categorize the steps of contract administration, from requests to renewals. But how can you embrace legal operations digital transformation to automate the contract life cycle process? Read this blog to find out.
This blog post was updated on May 13th, 2021. Its original publication date was February 4th, 2019.
Contract tracking can be a significant challenge for legal teams, procurement managers, contract managers, and other industry professionals. Manual contract management processes may suffice for organizations with low contract volume and contract complexity, but when the number of contracts increases to hundreds, thousands, and beyond, contract failure rates increase exponentially. Read on to find out how to master contract tracking with leading contract management software.