Contract managers are under increased pressure to deliver value with reduced contract risks, decreased contract costs, and improved contract performance. When you regularly measure progress and the success of contracts against contract management key performance indicators (KPIs), you can proactively readjust your contract strategy to ensure goal alignment drives critical and positive organizational impact. Read on to learn how contract management software can help maximize three important contract management KPIs for success.
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.
With digital transformation, the way we sign and validate documents has evolved significantly. The concept of a signature block is important in the realm of business communication and legal agreements. But what is a signature line or block exactly? Often seen at the end of contracts, emails, and business letters, these blocks are more than just a space for your signature. They are a testament to your identity, professionalism, and attention to detail.
In this guide, we'll delve into signature blocks - from the basic signature line definition to its varied forms in different contexts like contracts, emails, and legal documents. Whether you're a business professional, an attorney, or simply someone looking to understand the nuances of digital communication, this blog will provide valuable insights into how signature blocks work, why they matter, and how they can be optimized for clarity and legal validity.
In the vast realm of contract law, you'll often hear phrases like "intend to enter," "verbal contract," and "put it in writing." These reflect the nuanced stages of contract creation, fulfillment, and enforcement. In today's fast-paced world, these traditional methods are quickly being replaced by more modern, efficient processes. At the forefront of this evolution is contract management software that employs the power of electronic signatures.