The CLM process is an official business definition that stands for Contract Lifecycle Management. It is a process that is used to manage the entire lifecycle of a contract from start to finish. This process involves a number of steps that must be completed in order to ensure that the contract is properly executed and managed. These steps include contract creation, negotiation, execution, monitoring, and termination. The CLM process is an important part of any business, as it helps to ensure that all contracts are properly managed and that all parties involved are aware of their obligations and responsibilities. By having a well-defined CLM process in place, businesses can reduce the risk of costly disputes and ensure that all contracts are handled in a timely and efficient manner.