Contract Management vs. Contract Lifecycle Management: What’s Right for Your Business?
Is choosing between traditional Contract Management System (CMS) and Contract Lifecycle Management (CLM) making you confused? You are not alone; many contract managers, contract owners, and contract authors also struggle to decide which option is best for them to reach their specific goal, like managing the entire contract lifecycle, reducing errors, and improving compliance. While business contracts are essential for any ...
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10 Contract Management Challenges — How CLM Software Can Solve Them
Business groups or companies that harness Contract Lifecycle Management (CLM) typically make fewer contract-related mistakes and can also make their customers happy. Even statistics also support it. As per Concord data, by 2035, the projected CLM market size will be $11 billion. However, 72% of contract professionals still now have not implemented any AI solution. However, managing a contract ...
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How eSignatures Improve Workflow Efficiency in Remote Teams
The recent COVID-19 pandemic has impacted the entire world, and business organizations are no exception. Overnight, the companies had to change to a WFH model and remote way of working to survive and stay afloat in the competitive market. In this time of digital dependencies, one solution that proved to be the most effective was eSignatures. The electronic form of ...
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The Future of Contracts: How AI and Automation Are Reshaping CLM
Is your business facing issues like a lack of real-time data analysis? Are human errors affecting the quality of your products or service ranges? With the introduction of AI and automation, businesses are getting a helping hand in the form of accurate and data-driven decision-making. Along with supporting businesses, AI is also making an impact in Contract Lifecycle Management. The ...
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How Going Digital with eSignatures Can Save Both Time & Money
Documentation is crucial in any business agreement. Whether it’s drafting an employee contract or a partnership agreement between two or more parties, you cannot ignore the documentation. The signature is a critical part of any paperwork. But what if the signatories are in different locations? Should projects come to a halt just because a signature is pending? Delays like these ...
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Why Contract Lifecycle Management Software Is Essential for Modern Businesses
Contracts are crucial for every business relationship, whether with suppliers, clients, or employees. But many companies still manage them using manual methods. And that can cause real problems. Think about it. Important contracts get lost in a shared folders, misfiled or forgotten. Key dates slip by unnoticed. Suddenly, you’re facing missed renewals, compliance issues, or worse, damaged relationships and lost ...
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