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CLM Blog

Contract Management Blog

Latest Blog Posts and Articles from Contract Logix.

How Contract Software Helps with New FASB Lease Accounting Standards

You know it’s been coming for a long time. On January 1, 2019, the new lease accounting standards from the Financial Accounting Standards Board (FASB) will take place for public companies (2020 for private companies). On that date standards regarding operating leases with terms greater than one year will go into effect. While it may seem that day is still far away, the reality is that implementing the new processes will take time and plenty of preparation.

Applying Technology to Reduce Contracting Costs & Risks

A problem for businesses that handle a large number of contracts is that the approved standard contractual language is often modified. Deviations from pre-approved conditions such as terms of warranties and indemnities can create costly problems when contracts are approved without prior knowledge of these modifications. Let’s look at how contract management software can help avoid these problems.

5 Contract Management Best Practices in Asset Services

Property managers serve all types of real estate on behalf of corporate, institutional, and private clients. While these specialists may have a comprehensive understanding of the owner’s perspective and local dynamics, these specialists often rely on contract templates without carefully looking at the clauses specified in it. Let’s review five best contract management practices for professionals in the asset services industry.

CLM Software: Filtering Out the Noise in Contract Data Management

Contracts can produce an incredible amount of data. From confidentiality agreements to requests for proposals to execution agreements, the amount of contract data available to those who work with contracts can feel overwhelming at times. Let’s review how to filter through that data to uncover insights that are truly meaningful to your organization.

7 Keys to Successfully Onboarding Contract Management Automation

In their simplest form, there are really three components to the onboarding of contract management software: configuring the software, migrating your existing electronic data and documents, and teaching your end-user community how to use the solution. Let’s review 7 keys to look for in a solution to ensure that you maximize its adoption.

5 Ways CLM Software Improves Contract Management Processes

Contract Lifecycle Management (CLM) software has transformed the way that individuals responsible for contract management handle their processes. Among the benefits of contract management software are shortened sales cycles and more accurate contract data. Let’s take a closer looks at specific ways CLM software improves contract management processes to achieve those benefits.



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