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   What is a contract management lifecycle?

   • For in-house legal teams, the contract management lifecycle is a critical structured approach that governs contracts from start to completion. Effectively managing each stage is essential for organizations to ensure compliance, reduce risks, and foster strong relationships with clients, suppliers, and partners.

   Exploring the key stages of the contract management lifecycle

   www.wolterskluwer.com/en-gb/expert-insights/key-stages-of-contract-management-lifecycle

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   What are the 7 stages of Contract Lifecycle Management?

   • The contract lifecycle management process is broken down into seven key stages, including Planning, Implementation, Pre-contract, Handover, Contract, Pre-renewal, and Post-contract. Planning stage - This is where you develop your CLM strategy based on your company’s needs and resources.

   What Is Contract Lifecycle Management (CLM)?

   www.contractworks.com/blog/what-is-contract-lifecycle-management

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   What makes a successful contract management system?

   • The success of CLM depends on the right technological support. CLM, or contract management software, plays a pivotal role here, offering features that smooth out the contract lifecycle’s every curve. Essential features include: Contract Creation and Template Management: Streamlines drafting with customizable templates.

   What Is Contract Lifecycle Management (CLM)? - Read the Guide

   www.contractlogix.com/contract-management/contract-lifecycle-management-clm/

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   Why is a contract lifecycle important?

   • Attributing a lifecycle to contracts helps organizations break down the contract process into distinct phases. This makes it easier to manage and understand each part of the contract’s journey from inception to conclusion or renewal.

   What Is Contract Lifecycle Management (CLM)? - Read the Guide

   www.contractlogix.com/contract-management/contract-lifecycle-management-clm/

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   How can a contract lifecycle management system help your business?

   • In contract law or for those relying on contract agreements to protect their business interests, it can be helpful to consider technological solutions aimed at reducing the amount of rote, menial tasks required of their human resources. One way this can be accomplished is by deploying an end-to-end system to manage the contract lifecycle process.

   Contract lifecycle management: An overview - Thomson Reuters Law Blog

   legal.thomsonreuters.com/blog/what-is-contract-lifecycle-management/

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   What are the 6 steps of contract management lifecycle?

   • The 6 steps of contract management lifecycle In the first stage, in-house counsel identifies the need for a contract and outlines the goals and expectations of the involved parties. Needs Assessment: Recognizing the requirement for a contract and setting up the goals it aims to accomplish. Party Identification: Finding the contractual parties.

   Exploring the key stages of the contract management lifecycle

   www.wolterskluwer.com/en-gb/expert-insights/key-stages-of-contract-management-lifecycle

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2. www.wolterskluwer.com › en › expert-insightsThe Six Key Stages of Contract Lifecycle Management

   www.wolterskluwer.com › en › expert-insights

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   Mar 7, 2024 · Contract lifecycle management requires a structured process that helps organizations navigate the complexities of contracts effectively. Each CLM stage plays a crucial role in ensuring that contracts are created, executed, and managed efficiently.

3. legal.thomsonreuters.com › blog › what-is-contractContract lifecycle management: An overview

   legal.thomsonreuters.com › blog › what-is-contract

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   May 14, 2024 · Contract lifecycle management assists organizations in reducing contract risks, ensuring regulatory compliance, evaluating contract performance through audits, and maintaining organization throughout the entire contract process.

4. Videos

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     Stages of the Contract Management Lifecycle

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     7 Steps in the Contract Life Cycle Management Process

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     The CIPS Contract Management Cycle | CIPS

     Feb 25, 2021

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5. www.contractprime.com › blogs › clm-101-guideContract Lifecycle Management 101: A CLM Guide

   www.contractprime.com › blogs › clm-101-guide

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   Oct 18, 2023 · Contract Lifecycle Management or CLM, is the systematic and strategic approach to managing an organization’s contract lifecycle, from creation and negotiation to execution and analysis. It encompasses the entire journey of a contract, from its inception to expiration or renewal.

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6. www.contractworks.com › blog › what-is-contractWhat Is Contract Lifecycle Management (CLM)?

   www.contractworks.com › blog › what-is-contract

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   Contract Lifecycle Management (CLM) is the process of tracking and managing every aspect of a contract for its performance, compliance, and other success factors through every stage of the document's lifecycle — from execution to renewal or expiration.

7. www.wolterskluwer.com › en-gb › expert-insightsExploring the key stages of the contract management lifecycle

   www.wolterskluwer.com › en-gb › expert-insights

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   The contract management lifecycle is a vital process that eases the smooth administration and execution of contracts, playing a significant role in supporting successful business relationships.

8. oneflow.com › blog › contract-lifecycle-managementContract lifecycle management: A complete guide - Oneflow

   oneflow.com › blog › contract-lifecycle-management

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   Apr 20, 2023 · By implementing a CLM system, organisations can streamline their contract management processes, improve their business performance, reduce risks, and save costs. The phases of the contract lifecycle include initiation, drafting, review and approval, execution, performance and monitoring, and renewal or termination.

9. www.contractlogix.com › contract-managementWhat Is Contract Lifecycle Management (CLM)? - Read the Guide

   www.contractlogix.com › contract-management

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   Mar 11, 2024 · Contract lifecycle management (CLM) is a critical task in modern business operations. It ensures that organizations can effectively manage their contracts through each stage of their lifecycle. The value of CLM lies in its capacity to streamline processes, significantly reducing the time and resources devoted to managing contracts.