![]() ![]() Here are some of the most important features that should be found in the best contract management software. These cloud and on-premise solutions help your team centralise contracts and reduce the time spent sending documents back and forth between partners during negotiations. When people talk about contract management software, they mean one thing above all: automated contract lifecycle management (CLM) software.Ĭontract management software offers a significant advantage by allowing lean business and legal teams to focus on more complex, higher value tasks rather than spending a lot of time on large volumes of routine contracts.Īnother benefit of CLM software is that it facilitates the creation, signing and distribution of legal documents. But beyond that, it can do much more to help a company improve efficiency, strengthen business relationships and protect its interests. A good contract management system should be able to automate contract requests, approvals and maintenance processes. For this reason, contract management software is becoming increasingly popular with companies of all sizes. Others entrust a single team member with worksheet management and change management.Ĭontracts are the universal language of business: almost every euro that flows into or out of a company is underpinned by a contract. For some companies, contract management is something like a folder in a desk drawer. ![]() The term contract management can be used to describe a variety of activities. ![]()
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