A contract lifecycle management (CLM) system is a software solution that helps companies manage their contracts. It can help you stay on top of your contracts, streamline processes, and even reduce costs. In this article, we’ll explain how contract lifecycle management software solutions work and how they’re used to manage the contract lifecycle.
Approval automation
Approval automation is an essential component of any contract lifecycle management. It’s hard to imagine a world without it, yet it remains one of the most overlooked aspects of effective relationship management.
Contracts are legal agreements that outline expectations, responsibilities, and payment terms between two parties. They serve as a mutual understanding between customers and suppliers on how they will interact with one another moving forward. The goal of contracts is to clearly outline roles to avoid any confusion or ambiguity in future interactions between the parties involved.
Contract requests
Contract requests are an …