Over the last year, our clients - legal professionals - have expressed their seemingly increased workload for reviewing contract documents, negotiating agreements, and signing contracts. Recently, I was asked: "When do you know it is time to hire a full-time legal professional for contract management and legal review?" Considering the innumerable times I've been asked this question, I resolved to write a thorough and thoughtful response as a blog that aligns with our audience of contract management software users and prospective CLM users as well. Discover 5 steps to determine if you need to hire a full-time legal reviewer or paralegal.
Tracking contract management data with manual and disparate processes throughout the contract lifecycle can prove challenging. Without readily accessible contract management reports for contract financials, workflows, budgets, KPIs, vendors, compliance, and other essential contract metadata, you can waste time and energy. Fortunately, leading contract management software can provide you with contract management reports for robust source-to-contract lifecycle management oversight.
As contract management continuously evolves amidst constant digital transformation, you can find various ways to improve your processes. Rather than fall behind with manual contract management processes that require disparate tools - such as email, spreadsheets, wet signatures, and postal mail – read on to see how you can improve your contract management processes with future-minded contract management software.
Gathering required signatures for contracts can prove challenging, especially when working with multiple signatories in various locations. Considering signatures finalize contracts and propel their post-award execution, this highly anticipated step can be delayed with manual wet signatures and disparate signing processes. Contract management best practices require leveraging speedy eSignatures for CLM process-flow success. Read on to learn how eSignatures offered by contract management software can make online contract signing quick and easy.