CLM 101

Getting Started with Contract Lifecycle Management and Contract Intelligence

Do you know that you need help managing contracts and giving your organization a competitive edge but are unsure where to start? Right here! Learn contract lifecycle management basics, contract analytics, using AI for contract management and more to help you get the most value out of every contract. 

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Upgrade Your Organization to Contract Intelligence

Contract lifecycle management provides a solid foundation for efficiency and accuracy, but contract intelligence adds AI and deep contextual analysis to drive better business results.

What Is a Contract Management System?

A contract management system is a software that uses templates and clause libraries to standardize the contents of sourcing and sales contracts; digitizes and stores contracts in a central location; automates workflows focusing on contract creation and execution; and expands in volume as new contracts are added.

What Is Contract Intelligence?

Contract intelligence is a new approach to CLM that provides companies the ability to dynamically analyze contracts in the context of the systems and processes that drive the business forward. Intelligent tools use the power of artificial intelligence to ensure the intent of every contract is fully realized, from initiation and signing to obligation management and analytics. All the while, the system generates real-time, high-impact insights, so companies can enjoy unmatched visibility into precisely the information they need when they need it.

What Is Enterprise Contract Management?

Enterprise contract management is an approach to contract management that brings all of a company’s commitments into a single CLM system for seamless, holistic management. With enterprise contract management, automated systems replace the inefficient methods of manual contract management systems and streamline the process. With a computerized contract management system in place, you can organize a collection of contracts, clauses, and templates for standardization and quick retrieval.

Contract Lifecycle Management Success: Nailing CLM Implementation

Contract Lifecycle Management (CLM) delivers measurable real-world benefits. Here’s how to select the best CLM solution and ensure a successful implementation. 

The Importance of a Contract Lifecycle Management System

Contract lifecycle management (CLM) software automates and streamlines the management of legal agreements, offering efficiency, accuracy, and greater effectiveness at scale.

What is Contract Management Software?

Contract management software is designed to help lawyers and other professionals create, negotiate, renew, and collect data on existing business contracts.