Contract Lifecycle Management (CLM) is a business process that is used to streamline the entire contract management process. It is a comprehensive approach to managing contracts that involves the entire lifecycle of a contract, from the initial negotiation and signing of the contract to its eventual expiration. CLM helps organizations to improve their contract management process by providing a structured and systematic approach to the process. It also helps to ensure that all parties involved in the contract are aware of their responsibilities and obligations, and that all contractual obligations are met. CLM also helps to reduce the risk of contract disputes and delays, as well as improve the efficiency of the contract management process. In short, CLM is a powerful tool that can help organizations to manage their contracts more effectively and efficiently.