English
Contract Lifecycle Management (CLM)
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The end-to-end management of contracts from initiation, drafting, negotiation, approval, execution, ongoing management and compliance, to renewal or termination. CLM software often automates and streamlines this process to minimize risk, ensure compliance, and maximize the value of contracts.
The company implemented a CLM system to centralize contract storage, automate approvals, and track key milestones throughout the contract lifecycle.