In today’s fast-paced business environment, managing contracts efficiently can be the difference between capturing value or creating risk. For organizations juggling hundreds or thousands of agreements, a robust contract repository isn’t just a nice-to-have—it’s a critical business asset. But what exactly is a contract repository, and how can you build one that truly serves your… Continue reading What Is a Contract Repository and How to Create One?
Category: Contract Management
Contract Management Software Pricing: Everything You Need to Know
Are you planning to invest in contract management software? One of the first questions you’ll face is: How much will it cost? For contract managers, legal teams, and compliance officers who rely on CLM software daily, understanding the full scope of pricing is important. Additionally, knowing the factors surrounding this cost is essential. In this… Continue reading Contract Management Software Pricing: Everything You Need to Know
A Complete Guide to Contract Management Workflow: Steps, Best Practices, & Benefits
Are you struggling with never-ending email chains, missed deadlines, and scattered contracts? Many organizations face these challenges in managing their contracts, often resulting in missed deadlines, chaotic workflows, and overlooked renewals. As per KPMG International, businesses can lose as much as 40% of a contract’s value due to inefficiencies in contract management processes. A well-structured… Continue reading A Complete Guide to Contract Management Workflow: Steps, Best Practices, & Benefits
10 Best Contract Management Software for 2025
Managing contracts can be a challenging task. With complex approval processes, endless paperwork, and strict deadlines, it’s easy to see why many businesses struggle to keep track. Whether you’re dealing with dozens or hundreds of contracts, manually managing them can lead to missed deadlines, compliance issues, and increased risk. The real challenge? Finding a contract… Continue reading 10 Best Contract Management Software for 2025
Do You Need a Contract Audit in 2025? A Comprehensive Guide
Contracts are strategic documents that are the backbone of nearly every business relationship. Whether it’s vendor contracts or employee agreements, these legal documents outline obligations, set expectations, and safeguard organizational interests. However, many companies inadvertently put themselves at considerable risk by ignoring proper contract management and oversight. As we look ahead to 2025, organizations feel… Continue reading Do You Need a Contract Audit in 2025? A Comprehensive Guide
AI Legal Assistants vs AI Assistants for Contract Management – Myths & Facts
The rise of Artificial Intelligence (AI) in legal and contract management has been nothing short of revolutionary. AI has significantly transformed how legal, procurement, and finance teams operate, from automating tedious tasks to enhancing decision-making. However, there is often confusion between AI Legal Assistants and AI Assistants for Contract Management. Many professionals mistakenly believe they… Continue reading AI Legal Assistants vs AI Assistants for Contract Management – Myths & Facts
16 Contract Management Statistics to Get Inspired in 2025
The contract management landscape is shifting fast. Technological advancements and tighter regulations demand enterprise teams to rethink how they manage agreements. Falling behind could cost time, money, and opportunities. Conversely, enterprise teams that adapt to new trends and technologies can streamline workflows, strengthen compliance, and gain a strategic edge. This article will examine 16 key… Continue reading 16 Contract Management Statistics to Get Inspired in 2025
E-Signature Software vs. CLM: What Enterprise Contract Teams Need
Enterprise contract teams often use tools such as e-signature software and contract lifecycle management (CLM) solutions to streamline associated workflows. The eSign software expedites contract approvals, ensuring legally binding agreements in any use case. CLM solutions, on the other hand, offer end-to-end contract management capabilities, from drafting documents and getting approvals to tracking obligations. While… Continue reading E-Signature Software vs. CLM: What Enterprise Contract Teams Need
How CLM Helps You Navigate Tariffs, Policies & Supply Chain Disruptions
If you are a Chief Revenue Officer, Chief Procurement Officer, or Chief Legal Officer, you are likely feeling the tremors from the latest policy shift. On February 1, 2025, the US administration announced hefty tariffs on imports from Canada, Mexico, and China, with varying implementation dates. In addition, new executive orders impacting funding at various… Continue reading How CLM Helps You Navigate Tariffs, Policies & Supply Chain Disruptions
6 Essential Elements of a Contract
Understanding key contract elements enhances efficiency, reduces disputes, and drives strategic value. This empowers enterprise contract teams to mitigate risks, foster long-term partnerships, and ensure legal compliance. Moreover, it allows teams to streamline their Contract Lifecycle Management (CLM) process—from contract creation and negotiation to execution and renewal. In this article, we will examine six essential… Continue reading 6 Essential Elements of a Contract
Unilateral vs Bilateral Contracts – What’s the Difference
Contracts are legally binding documents highlighting the rights and obligations of the parties involved in various transactions. One effective way to classify contracts is by dividing them into two types: unilateral and bilateral. Understanding these differences is key to ensuring compliance, securing legal rights, and preventing contract disputes. This article will examine unilateral and bilateral… Continue reading Unilateral vs Bilateral Contracts – What’s the Difference
Buy-Side and Sell-Side Contracts: Key Differences and Management Strategies
Contracts are categorized in various ways to improve management, efficiency, and compliance throughout their lifecycle. A practical and widely adopted approach to contract classification divides contracts into buy-side and sell-side types. Each type has distinct nuances that determine its use cases and handling procedures. Despite their differences, buy-side and sell-side contracts also share key similarities.… Continue reading Buy-Side and Sell-Side Contracts: Key Differences and Management Strategies