What is Contract Lifecycle Management?

    By Sean Heck on 02/19/24

    reading-minutes-icon-one-color 8 min read

    Organizations of all sizes face the need to juggle multiple digital contracts simultaneously, with each contract being at a different stage of the contract lifecycle.  Leading contract management software reduces risk, improves productivity, and maximizes a contract's value.  But what is CLM (contract lifecycle management)?  Read on to find out!

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    The 3 Contract Management KPIs for Success

    By Maria Votlucka on 01/9/24

    reading-minutes-icon-one-color 3 min read

    Contract managers are under increased pressure to deliver value with reduced contract risks, decreased contract costs, and improved contract performance.  When you regularly measure progress and the success of contracts against contract management key performance indicators (KPIs), you can proactively readjust your contract strategy to ensure goal alignment drives critical and positive organizational impact.  Read on to learn how contract management software can help maximize three important contract management KPIs for success.

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    The 8 Stages of the Contract Lifecycle

    By Jamie Reedy on 12/13/23

    reading-minutes-icon-one-color 4 min read

    Contracts are legally binding - and thus need to be executed properly.  Legal teams should equip themselves with a thorough understanding of the contract lifecycle.  The contract lifecycle is the process under which a contract is authored, reviewed, sent for signature, executed, and - potentially - renewed. 

    The "lifecycle" is an archetype used to compartmentalize and understand a contract's complex evolution.  The lifecycle begins with contract requests and concludes when these requests are fulfilled - with the possibility of managing contract renewal.  Let's further explore the eight stages of the contract lifecycle below and how digital contract management software can help streamline your contracting processes. 

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    Contract Management Reports for Robust CLM Data Analytics Oversight

    By Joshua Hansen on 01/23/23

    reading-minutes-icon-one-color 4 min read

    Tracking contract management data with manual and disparate processes throughout the contract lifecycle can prove challenging.  You can waste time and energy without readily accessible contract management reports for the following.

    • Contract Financials
    • Contract Terms
    • Workflows
    • Budgets
    • KPIs
    • Vendors
    • Compliance Data
    • & Other Essential Contract Data

    Fortunately, leading contract management software can provide you with contract management reports for robust contract performance management oversight.

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