Contract lifecycle management (CLM) is the process of managing the entire life cycle of a contract from inception to completion. It includes the creation, negotiation, execution, and management of contracts.
The goal of CLM is to streamline the contract management process and improve efficiency and productivity. It can also help reduce risks associated with contracts, such as non-compliance with terms and conditions.
CLM software provides a central repository for storing and tracking all contract-related information. It includes tools for creating, editing, and sharing contracts. It also provides workflow capabilities to automate and manage the contract lifecycle.
CLM software can be used by organizations of all sizes to manage their contracts more effectively.