Contracts Management System (CMS) is a digital solution that enables businesses to store, manage and track contracts in an organized way. It provides visibility into contracts so businesses can effectively monitor contractual performance and compliance, as well as identify potential issues or opportunities more efficiently. By automating key processes such as contract creation and approval, CMS also helps streamline the contract management process and reduce manual work. With features like centralized repository, automated reminders and reporting capabilities, Contract Management Systems make it easier to keep track of agreements and ensure that all business stakeholders follow the same set of guidelines.