The 8 Stages of the Contract Lifecycle

    By Jamie Reedy on 05/20/24

    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 management process.  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 Renewals: Mastering Contract Management Series

    By Sean Heck on 03/18/24

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    Manual renewal methods with spreadsheets, emails, emailed reminders, and wet signatures may suffice for organizations with low contract volume and complexity. 

    Unfortunately, organizations managing thousands of contracts of ranging types can face challenges. Moreover, such an outdated contract renewal strategy can increase the risk that a contract expires with a desired renewal having been overlooked. It's time to take control of how you manage contract renewals. Read on to learn how to leverage renewal process best practices with contract management software.

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    What is Contract Lifecycle Management?

    By Sean Heck on 03/15/24

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    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 saves time, reduces risks, improves productivity, and maximizes a contract's value. But what is CLM (contract lifecycle management)? Read on to find out!

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    Turning Evergreen Contract Challenges Into Opportunities

    By Sean Heck on 11/6/23

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

    Anyone managing contracts knows about the evergreen contract. Evergreen agreements stand out for their ability to self-renew - offering a blend of convenience and continuity for both parties. However, this same perpetual nature can pose unique challenges in evergreen provisions tracking and management. In this blog, we will explore the intricacies of evergreen contracts; we will examine how sophisticated yet user-friendly tools of leading contract management software can streamline and optimize the lifecycle of these agreements.

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