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.
How Can Your Contract Process Be Improved?
6 min read
Topics:
compliance
Contract Compliance
Contract Compliance Software
contract life cycle management
Contract Lifecycle
Contract Lifecycle Management
contract lifecycle software
Contract Lifecycle Stages
Contract Management Process
contract repository
eSignature
Contract Management Software
CLM
CLMS
Electronic Signature
electronic signatures
eSignatures
VISDOM AI
Contract Artificial Intelligence
Contract Management AI
AI-Powered Contract Management Software
AI-Based Contract Management
contract management tools
CLM Software
electronic signature software
IntelliSign
Contract Intelligence
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The 8 Stages of the Contract Lifecycle
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.
Topics:
CLMS Return on Investment
compliance
contract authoring
Contract Compliance
Contract Compliance Software
contract life cycle management
Contract Lifecycle
Contract Lifecycle Management
contract lifecycle software
Contract Lifecycle Stages
Contract Management Process
contract negotiation
Contract Stages
contract writing
contract writing solution
e-sign
E-signatures
eSignature
Contract Management Software
Maximize ROI with CLM
signatures
CLM
CLM ROI
CLMS
Electronic Signature
electronic signatures
eSignatures
contract approval process
contract renewals
CLM Software
electronic signature software
IntelliSign
contract requests
legal requests
Stages of the Contract Lifecycle
The Stages of the Contract Lifecycle
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Contract Renewals: Mastering Contract Management Series
4 min read
Manual renewal methods with spreadsheets, emails, emailed reminders, and wet signatures may suffice for organizations with low contract volume and complexity.
Unfortunately, organizations managing thousands of contracts of ranging types can face challenges. Moreover, such an outdated contract renewal strategy can increase the risk that a contract expires with a desired renewal having been overlooked. It's time to take control of how you manage contract renewals. Read on to learn how to leverage renewal process best practices with contract management software.
Obligation of Contracts - An Overview
4 min read
Unfulfilled contract obligations can create a post-award contract management nightmare that can escalate to stressful legal action – such as issuing a cease and desist or suing your counterparty.
So, how can you avoid this?
By clearly defining the obligation of contracts between you and your counterparty and leveraging contract management software tools to receive timely alerts for each obligation of contracts, you can retain contract obligation accountability instead of meddling with unnecessary disputes.
Topics:
contract life cycle management
Contract Lifecycle
Contract Lifecycle Management
Contract Lifecycle Stages
tasks
post-award contract automation
contract obligations
Obligation of Contracts
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