Contract Management Software

Contract lifecycle management (CLM) Software stores and manages: Legal agreements Vendor contracts Leases Licensing agreements Contract management software is a program or series of related programs for storing and managing legal agreements such as contracts with vendors, leases and licensing agreements.

The Purpose of CLM software: Streamline administrative task Reduce overhead Provide unified view of contact process

CLM Software can also: Follow contracts through reviews & approvals Provide documentation for digital signatures Generate the contract in Word, PDF Include post-execution tracking

In enterprises, CLM can be used to: Manage new contract requests Capture data related to contract Document authoring Track contract creation & negotiation.

CLM provides business owners with better visibility into the status of a specific contract and facilitates reporting & compliance.

Contract Management Software provides alert notification for critical contact renewal dates.

Some low-end CLMs simply provide: Templates and guidelines Creation & storage of hard-copy contacts More robust CLMs provide ability to: Create and manage contracts Store in an electronic database Automate contract lifecycle management

Losing Money “ Of an Organization's Contracts To Underperform….. Translating into 9% of annual revenue” - Association for Contract Management (IACCM) $50 Million business is losing $4.5 MILLION per Year!

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