What is Contract Lifecycle Management?

    By Sean Heck on 02/19/24

    reading-minutes-icon-one-color 8 min read

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

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    The 8 Stages of the Contract Lifecycle

    By Jamie Reedy on 12/13/23

    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.  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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    How Contract Review Can Be Easy With CLM Software

    By Sean Heck on 01/16/23

    reading-minutes-icon-one-color 3 min read

    Contract review is a crucial contract management stage.  Unfortunately, far too many organizations overlook this process or leverage out-of-date methods that can increase unnecessary risk.

    Thankfully, we can establish a contract review processes checklist and manage the life of a contract with leading contract management software.  Let’s get started.

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    Contract Drafting Made Easy With Contract Software

    By Sean Heck on 11/28/22

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

    Contract drafting is a multi-faceted and complex process.  Document collaboration, contract authoring, negotiation, terms and conditions, and other relevant steps can be challenging. They are all the more challenging if you are relying on manual tools - such as shared drives and emails.  Leave tedious, manual contract drafting methods in the past by embracing robust contract management software.

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