Contract Insights

When managing contracts, performance monitoring is one of the most important ways to measure success.  With a large variety of contracts, all with different terms, it can be difficult to know how you should assess contract performance.  Luckily, you can boil down the success of each contract, no matter the complexity, to four key contract performance metrics. Read on to discover how contract management software can help you optimize four key contract performance metrics.

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.

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. 

As your business grows, so do your responsibilities - especially as they pertain to contracts.  Contract volume and contract complexity grow along with your organization.  As such, it can be easy to fall into the deleterious pitfalls of time-consuming contract mismanagement.  Your organization will inevitably reach a point at which manual contract management processes - such as those involving disparate emails, spreadsheets, shared drives, data entry prone to human error, and manual wet signatures - no longer cut it.  But change is a good thing, and you can get ahead of the damaging consequences of contract mismanagement due to a manual process.  How? It's simple: automate contracts with contract management software.  Read on to learn how to easily get started with streamlined contract management automation!