Clause libraries have proven incredibly useful for advanced legal operations and contract lifecycle management – if appropriately implemented. Unfortunately, your organization can mismanage your clause library with antiquated technology, manual clause tracking and clause storage, and the lack of an expeditious way to leverage clauses during contract authoring and contract negotiation. Luckily, you can supercharge your clause library with user-friendly and robust contract management software. Here's how.
Generation of contracts can be challenging for contract, procurement, and legal professionals. Manual contract generation can be tedious, time-consuming, and error-prone. Moreover, a manual approach to document assembly can inadvertently put organizations in the precarious position of facing significant process bottlenecks, compliance issues, risks, fines, or legal ramifications. It’s time to take control of contract generation. Learn how to transform your manual contract generation process into a value-centric strategy with the help of leading contract management software.
This blog post was updated on March 30th, 2021
Contract lifecycle management requires a thorough strategy, careful planning, and the right technology. Without all three elements, managing contracts can not only be challenging for contract management, sourcing, procurement, vendor management, and legal professionals; it can prove difficult to maximize contract value. Contracts require tremendous pre-award and post-award investment. Without a suitable contract management system in place, you can find it difficult to maximize ROI. Too many organizations are missing end-to-end contract management that provides a clearly defined process, actionable insights, and accountability - ultimately negatively impacting productivity, profitability, risk exposure, and compliance. Read on to learn how you can master contract lifecycle management.