Contract Insights

The contract lifecycle is a great way to categorize the steps of contract administration, from requests to renewals.  But how can you embrace legal operations digital transformation to automate the contract life cycle process?  Read this blog to find out.

There are many moving parts involved with a contract, and it can be easy for your organization and counterparties to get mixed up at some point in the process.  This is why a contract checklist is an essential part of the commencement of a contract.  Your organization can utilize a contract checklist as a contract roadmap.  Read this blog for an overview of a contract checklist – as well as what solutions your organization can leverage to navigate that contract checklist successfully.

Clause libraries have proven incredibly useful for advanced legal operations and contract lifecycle management – if appropriately implemented.  Unfortunately, your organization can mismanage your clause library with antiquated technology, manual clause tracking and clause storage, and the lack of an expeditious way to leverage clauses during contract authoring and contract negotiation.  Luckily, you can supercharge your clause library with user-friendly and robust contract management software.  Here's how.

This blog post was updated on March 30th, 2021

Contract lifecycle management requires a thorough strategy, careful planning, and the right technology.  Without all three elements, managing contracts can not only be challenging for contract management, sourcing, procurement, vendor management, and legal professionals; it can prove difficult to maximize contract value.  Contracts require tremendous pre-award and post-award investment.  Without a suitable contract management system in place, you can find it difficult to maximize ROI.  Too many organizations are missing end-to-end contract management that provides a clearly defined process, actionable insights, and accountability - ultimately negatively impacting productivity, profitability, risk exposure, and compliance.  Read on to learn how you can master contract lifecycle management.