Contracts are the lifeblood of all business agreements – whether it’s buying or selling products, services or consulting agreements. As part of this process, someone must create a contract, negotiate the terms and ultimately store it where it can be accessed by other team members.
Unfortunately, most professionals do not adhere to a consistent process – which can lead to unnecessary company risk exposure and unenforced or unmet contract terms. While there are a variety of methods to manage contracts, companies of all sizes can benefit by centralizing their contract data and taking steps toward standardizing the way contracts are processed, approved and managed.
Contract Lifecycle Management (CLM) is an integrated system that applies business rules to manage an enterprise’s contracts on a worldwide basis. A CLM system typically manages the request through the entire contract lifecycle, including negotiation, execution and storage in a central repository. CLM systems allow people within an organization to access, analyze and act on contract-related information to improve efficiency, consistency, reporting and control.
Our new white paper offers the following insights:
- What a CLM system is
- Key features of a CLM system
- How to avoid the “black hole” where information is disorganized or lost
- Benefits of implementing an efficient CLM system
- How to solve problems instead of creating new ones
- How enterprise solutions can be quickly developed and scaled to your business
Download our new white paper, Simple Contract Management to learn how to find a better, process-driven way to run and optimize your contract management process.