Clause management can be challenging for contract, procurement, and legal professionals. Manual contract administration tools such as spreadsheets, emails, and disconnected software tools prove to be less than effective or efficient ways to generate optimal contract documents and clauses - and rarely lead to fast approvals. Contract clauses can support standards and reduce contract risk when used to their potential and can positively impact your contract management process. Learn how to master contract clauses in this blog.
What Determines the Cost of Contract Management Software?
6 min read
Contract management software has proven to be an essential tool for businesses of all sizes. This AI-backed software can save organizations time, reduce errors, increase revenue, and improve compliance by streamlining the contract management process. However, one of the most common questions businesses have is about the cost of contract management software. Understanding the factors influencing the price and the potential return on investment (ROI) can help organizations make informed decisions. So how much does contract management software cost, and why?
Topics:
Contract Software ROI
Maximize ROI with CLM
ROI for Contract Management Software
CLM ROI
contract management roi
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5 Enterprise Data Features Within Contract Management Software
4 min read
For businesses across industries and sectors, managing enterprise data effectively is paramount to maintaining a competitive edge and business intelligence. With the exponential influx of data, organizations need robust solutions to manage, store, and utilize their information assets efficiently. One robust tool that has emerged to meet these needs is contract management software. This blog will explore how 5 cloud-based contract management software features can be instrumental in managing enterprise data and enhancing efficiency, compliance, and decision-making.
Topics:
agreement database
Contract Data Discovery and Extraction
Contract Data Extraction
contract database
data
data storage
Data Security
contract data archival
contract data retention
Document Data Archival
Document Data Retention
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3 Contractual Capacity Criteria to Enter a Valid Contract
3 min read
Contracts are critical for a vast array of business processes. As such, legal teams and contract administrators must be prepared for contract lifecycle management. However, it is important to note that not everyone is positioned to engage in legally binding contracts for themselves or their organizations. As such, one of the crucial elements of a contract is the contractual capacity of parties involved.
In this post, we’ll provide 3 criteria that dictate an individual’s contractual capacity to enter into an agreement.
