Contract Lifecycle Management (CLM)

CLM solutions are crucial to improving business efficiency and performance.

Contract Lifecycle Management (CLM) is a comprehensive process that encompasses the creation, execution, and management of contracts throughout their duration. By being structured in this way, it optimizes contract administration within an organization, improving efficiency and reducing risks.

CLM covers several stages, including contract drafting and approval, execution, and finally, renewal or termination. Specific tools and software, are used to automate and standardize these phases, ensuring that contracts comply with internal policies and regulations.

The main functionalities of a CLM system include automated contract creation based on pre-approved templates and version management, which allows for precise tracking of changes. Additionally, it offers centralized storage capabilities, facilitating document access and search.

Another key functionality provided by CLM is milestone and deadline tracking, alerting users about expirations and renewals. It also includes post-processing of documents with integrated digital signatures.

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Benefits

 Improves visibility and control over contracts.
 Facilitates risk identification and mitigation.
 Streamlines approval and execution processes through automated workflows.
 Reduces associated time and costs.
 Increases transparency and collaboration among involved parties.
 Builds stronger business relationships.
 Provides comprehensive reports and analysis.
 Delivers valuable data for strategic decision-making.

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