CLM (Contract Lifecyle Management)

Contract Lifecycle Management (CLM) is an integrated strategy for managing contracts from commissioning to completion. It comprises a set of coordinated, inter-related activities and processes used throughout the lifecycle of a contract to ensure the effective management, enforceability, and compliance of mutually established contractual obligations. CLM covers all aspects of contract management from risk assessment to governance and dispute resolution, providing visibility and control over every aspect of the contracted relationship. By taking a comprehensive approach to contract management, organizations can increase efficiency, reduce costs, and improve compliance with regulatory requirements.