Contract Insights

Tracking and retaining contract compliance can be challenging when leveraging primarily manual methods, such as spreadsheet management – especially when tracking multiple contracts with varying compliance standards.  Fortunately, contract lifecycle management (CLM) software tools can empower you to achieve contract compliance success.  Read on to discover how you can optimize contract compliance oversight with leading contract management software.

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Introducing a new contract management software solution can be a painless process or a long and difficult one.  Taking steps to prepare for the CLM implementation helps ensure the process is efficient rather than arduous and helps guarantee success.  The following steps can help lead to successful implementation:

• Determine contract administrators for the project.
• Assess and track contract data.
• Consider contract processes and configure procedures.
• Increase security with contract management permissions.
• Define necessary contract management reports.
• Collect and clean contract management data.

Read on to discover how to leverage the above-mentioned steps to successfully implement your contract lifecycle management software.

Organizations in both the public and private sectors are experiencing an ever-increasing need to more efficiently manage their contracts as contract volume and contract complexity grow.  Each stage in the life of a contract becomes ever more critical as organizations embrace digital transformation to more effectively manage legal operations.  Before they can even begin to improve contract lifecycle management, organizations need to have a clear understanding of contract management objectives.  In this article, we provide a straightforward examination of the objectives of contract management - as well as how organizations can meet these objectives with user-friendly contract management software.