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!
What is Contract Lifecycle Management?
By Sean Heck on 03/15/24
The 8 Stages of the Contract Lifecycle
By Jamie Reedy on 12/13/23
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.
How Contract Review Can Be Easy With CLM Software
By Sean Heck on 01/16/23
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 Unfortunately, far too many organizations overlook this process or leverage out-of-date methods that can increase unnecessary risk.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.
Contract Drafting Made Easy With Contract Software
By Sean Heck on 11/28/22
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.