Contract Insights

Managing contracts can be challenging - especially when primarily relying on outdated tools such as spreadsheets, emails, and shared drives.  Without accountability, visibility, and actionable insights, you can find yourself confronting contracting workflow bottlenecks.  Enterprise contract lifecycle management (CLM) requires careful planning, the right technology, and a well-planned contract strategy.

To gain the most out of enterprise contract management, take advantage of seven best practices.  Enterprise contract management best practices involve contract lifecycle management software. CLM software digitally unifies processes from contract requests through renewals. It provides a centralized, web-enabled, single source of truth for contracts. 

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Oh no!  It happened: contract lifecycle process failure.  Something went wrong during contract lifecycle management - resulting in contract failure.  But fear not; as a contract management professional, you are a worthy investigator.  It is time to put on your detective hat, grab a notepad, and piece together the clues as to why your contract lifecycle process failed.  You can also inspect how this tragedy could have been avoided with contract management software.  Let the investigation begin!

As contract management continuously evolves amidst ongoing digital transformation, it's important to pursue smart goals that can keep up with the times.  Rather than fall behind with manual contract management processes that require disparate tools - such as email, spreadsheets, and shared drives – read on to see how you can leverage future-minded contract management software tools to fulfill your contract management goals successfully.

Contractual compliance management can be challenging when leveraging primarily manual methods, such as spreadsheet management – especially when tracking multiple contracts with varying compliance standards.  Fortunately, contract lifecycle management (CLM) software tools can help you retain contractual compliance.  Read on to discover how you can streamline three key contractual compliance management areas with leading contract management software.

Contract administration can be a daunting process when relying on primarily manual tools - such as spreadsheets, shared drives, and disparate emails.  Without accountability, visibility, and a clearly defined contract administration plan, you can find yourself running into compliance issues, minimizing contract value, and encountering other setbacks.  Read on to learn how you can create a strong contract administration plan with the help of leading contract management software.

Navigating your CLM Platform can be difficult if you aren't equipped 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 - possibly – renewed.  The "lifecycle" is an archetype used to characterize and understand a contract's complex growth.  The lifecycle voyage begins with contract requests and ends when said requests are achieved – with the feasibility of contract renewal.  With so many complex processes involved in contract lifecycle management, it can be easy to sail toward the treacherous waters of contract mismanagement.  With a strong sense of how to leverage leading CLM software, however, you can quickly get your legal operations sea legs!  Read on to learn how you can set sail toward better contract management.

Managing your CRM (client relationship management system) separately from your CLM (contract lifecycle management system) can cause sales contract management bottlenecks - such as disorganization, miscommunication, and increased risk.  Fortunately, leading contract management software can help you achieve sales contract management success by seamlessly connecting your CLM and CRM.  Read on to learn how connecting your CLM and CRM can help expedite your sales contract management process by sharing relevant and timely information between sales and contract management teams efficiently – helping close sales deals quickly and track post-signature responsibilities effectively until renewal.

Managing contracts can be challenging - especially when primarily relying on outdated tools such as spreadsheets, emails, and shared drives.  Without accountability, visibility, a clearly defined process, and actionable insights within a contract management software platform, you can find yourself confronting contract management bottlenecks.  Contract lifecycle management (CLM) requires careful planning, the right technology, a well-planned contract strategy, and robust contract lifecycle management processes.  To gain the most out of contract lifecycle management, you need to ask key questions in order to find the right answers.  Read on to discover seven key questions to consider when implementing contract lifecycle management, including key features to look for when leveraging a CLM software platform.