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What is Contract Management?
Contracts are the foundation of commerce. Discover how contract management streamlines contract creation, execution, and compliance to reduce risks, boost efficiency, and maximize business value.
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 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 digital contract management system in place, you can organize a collection of contracts, clauses, and templates for standardization and quick retrieval.
What is Contract Lifecycle Management?
Contract lifecycle management (CLM) is the management of an organization’s contracts from initiation through execution, performance, and renewal/expiry.
What Is a Center of Excellence for Contract Management?
Struggling with contract inefficiencies? A Contract Management CoE centralizes expertise, streamlines processes, reduces risk and delivers cost savings. Find out how leading companies are leveraging CoEs to unlock contract value.
C-Suites on Generative AI: Transforming the Way We Work and Compete
80% of executives expect Generative AI to impact their bottom line within 5 years. A survey across 500 enterprises in the US and UK, commissioned by Icertis in 2024, sheds light on how c-suite leaders expect generative AI to impact how we work and how we compete.
What Is Contract AI?
Contract AI refers to the application of artificial intelligence technologies, particularly machine learning and natural language processing, to automate and enhance the contract management process. This technology can assist in various stages of the contract lifecycle, including drafting, reviewing, negotiating, and managing contracts.
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.
Rise of Large Language Models in Contract Management
Contracts are the foundation of commerce, but managing them can be slow and error-prone. Large language models (LLMs) are changing the game. This article explores how LLMs extract key data, automate drafting, and identify risks, transforming contract management from manual to intelligent. Unlock the power of AI for faster negotiation, better compliance, and a future-proof approach to agreements.