What is Contract Lifecycle Management (CLM) Software ?

Contract Lifecycle Management (CLM) software is a powerful tool used by businesses to manage the entire lifecycle of contracts. This software allows businesses to create, store, track, and manage contracts throughout their lifecycle, from initial creation to expiration or renewal.

With CLM software, businesses can streamline contract management processes and improve compliance and risk management. This software allows businesses to automate contract processes, including contract creation, negotiation, approval, execution, and renewal. CLM software also provides a centralized location for all contract-related documents and data, allowing businesses to easily track contract performance and compliance.

CLM software typically includes features such as contract templates, electronic signature capabilities, contract collaboration tools, and contract tracking and reporting. Some CLM software may also integrate with other business systems, such as CRM or ERP systems, to provide a more comprehensive view of contract performance and its impact on overall business operations.

Overall, Contract Lifecycle Management software is an essential tool for businesses looking to streamline contract management processes, improve compliance and risk management, and gain a more comprehensive view of their contracts' performance.