How Can Your Contract Process Be Improved?

    By Sean Heck on 05/27/24

    reading-minutes-icon-one-color 6 min read

    A healthy contract management process should constantly be adapting to technological advancements.  As contract volume and contract complexity begin to grow, organizations must embrace digital transformation to be furnished with the right tools to streamline the contract management process.  Such innovative CLM tools can be found within a trusted contract management software system. Read on to learn more.

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    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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    What Is an Executed Contract? - A Brief Overview.

    By Sean Heck on 03/6/24

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

    Contract execution is a critical stage in contract lifecycle management. By this point, the terms of the contract have been negotiated. Parties involved have ensured that everything is understood and all necessary resources have approved the written agreement. From there, contract parties sign the contract to propel its execution.

    Given the importance of this stage of contract management, you should know what an executed contract is and its meaning. As such, here is a brief overview of an executed contract.

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    The 3 Contract Management KPIs for Success

    By Maria Votlucka on 01/9/24

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

    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.

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