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   Why should contract management be broken into different stages?

   • One of the purposes of breaking contract management into distinct stages is to make it easier to analyze contract workflows and processes. Since the entire process is separated into recognizable steps, this allows managers and teams to identify broad trends and locate areas of improvement. Here are the seven essential stages of contract management.

   Contract Process: 7 Essential Stages of Contract Management

   www.contractworks.com/blog/7-essential-stages-of-contract-management

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   What makes a good contract management process?

   • The best contract management processes use the data throughout the life cycle to improve a company’s exposure or ability to manage financial or legal risk. CLM streamlines the process of managing all contracts that affect your business, from internal agreements with employees to external commitments with partners and vendors.

   The Contract Management Process Made Easy | Smartsheet

   www.smartsheet.com/content/contract-management-guide-templates

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   Why is a contract management process important?

   • With large sums and critical resources on the line, having a clear contract management process in place is essential for success. By following best practices, organizations can foster better collaboration, reduce risks, and avoid costly mistakes that could harm both business relationships and profitability.

   Seven Stages of Contract Management Process - signeasy.com

   signeasy.com/blog/business/contract-management-process

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   What makes a successful contract management lifecycle?

   • Initiating a successful contract management lifecycle requires the clear delineation of objectives and requirements, tailored to your business's goals and specific needs. Such needs may include regulatory compliance, risk mitigation, or cost optimisation. To effectively outline your objectives and requirements:

   How to create an effective contract management process

   www.wolterskluwer.com/en-gb/expert-insights/effective-contract-management-process

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   What is contract management?

   • Contract management describes the contract process from the moment contracts are created to their eventual termination. The goal is to maintain control over the planning, implementation, and termination. This also includes any and all steps that are taken to ensure proper reporting and obligation fulfillment.

   Contract Process: 7 Essential Stages of Contract Management

   www.contractworks.com/blog/7-essential-stages-of-contract-management

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   What is effective contract management?

   • Process. Whatever you call it, effective contract management doesn’t only involve developing agreements and getting them signed – it’s a series of actions that guide you from the earliest stages of developing holistic processes for handling each and every company agreement, through to the steps to seeing contracts through to their conclusion.

   Contract Process: 7 Essential Stages of Contract Management

   www.contractworks.com/blog/7-essential-stages-of-contract-management

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2. www.contractworks.com › blog › 7-essential-stages-ofContract Process: 7 Essential Stages of Contract Management

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   Jun 17, 2021 · Contract management describes the contract process from the moment contracts are created to their eventual termination. The goal is to maintain control over the planning, implementation, and termination.

   • Author: Elizabeth Cutright

3. www.docusign.com › five-stages-contract-managementFive Stages of the Contract Management Process - DocuSign

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   • Generation. To start a contract’s lifecycle, the first draft of the document has to be created. Almost no organizations are starting new contracts from scratch, but this can still be a lengthy process.
   • Negotiation. After a contract is generated, all parties involved need to negotiate back and forth until final terms are agreed to. For respondents in our survey, this stage in the process is the most time-intensive.
   • Routing. Our research shows that contracting professionals are using a wide range of tools to share contracts internally and externally. While the most popular routing tools are email (73%) and cloud storage systems (64%), a significant number of today’s contracting workers are still relying on outdated systems like postal mail (29%) and fax (20%).
   • Approval/signature. When it’s time to finalize a contract by collecting signatures, today’s contracting professionals have largely matured to utilize modern tools.

4. Videos

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     Webinar 1: What is contract management?

     Apr 8, 2016

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     Stages of the Contract Management Lifecycle

     Sep 28, 2023

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     42:14

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     The CIPS Contract Management Cycle | CIPS

     Feb 25, 2021

     81.7K Views

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5. www.smartsheet.com › content › contract-managementThe Contract Management Process Made Easy | Smartsheet

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   May 19, 2019 · A consistent and efficient contract management process guides and streamlines the management of each contract through all its phases, from creation, negotiation on terms and conditions, and approval, through execution, performance, and compliance on deliverables and deadlines.

6. signeasy.com › contract-management-processSeven Stages of Contract Management Process - signeasy.com

   signeasy.com › contract-management-process

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   Sep 11, 2024 · Contract management is the process of overseeing and administering agreements between two or more parties. It involves tracking, negotiating, storing, and ensuring compliance with contractual obligations throughout the contract lifecycle.

7. www.lexology.com › library › detail7 Stages of an Effective Contract Management Process

   www.lexology.com › library › detail

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   Mar 23, 2021 · Here are the seven key stages of contract management, and an actionable checklist to help you establish or refine your process. 1. Planning stage. Your contract management strategy is a...

8. www.sirion.ai › library › contract-managementTop 11 Contract Lifecycle Management Best Practices - Sirion

   www.sirion.ai › library › contract-management

   Feb 23, 2024 · Contracts define business relationships, outline obligations, and mitigate risks, making them a cornerstone of successful operations. Effective contract management tracks, enforces, and optimizes these agreements, reducing risks and maximizing value throughout the contract lifecycle.

9. www.wolterskluwer.com › en-gb › expert-insightsHow to create an effective contract management process

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   Aug 9, 2024 · Ready to build your effective contract management process? Start by identifying your objectives and requirements, assessing the adoption of contract management software, designing standardized templates and workflows, and establishing clear roles and responsibilities.