Organizations of all sizes face the need to juggle multiple contracts at a time, with each contract being at a different stage of the contract lifecycle. Leading contract lifecycle management software is crucial in reducing risk, improving productivity, and maximizing a contract’s value.
General Counsel and paralegals face growing contract volume and contract complexity. The lack of an efficient legal contract management process can render obstacles that legal departments encounter nearly impossible to overcome. As such, here's how to utilize legal contract management software for a shortened legal contract lifecycle.
As 2021 draws ever nearer, the truth remains that general counsel and paralegals continue to encounter growing contract complexity and volume. An ineffectual legal contract management process makes obstacles for legal departments tough to overcome. Here’s how to leverage seven legal contract management software tools for a streamlined legal contract lifecycle, reduced risk, and minimal contract lifecycle bottlenecks and delays.
The contract approval process is a challenge for many contract management and contract administration professionals due to bottlenecks and human error that can lead to longer contract cycle times. Delayed contract approvals may fail to meet business rules, business processes, and compliance standards, leading to missed opportunity of time-sensitive pricing options and special terms. The challenges and problems are apparent, but what is the root cause of the issues with contract approvals?