Contract Management Blog

It happens more often than you think. A salesperson is traveling and a sales opportunity presents itself. The salesperson needs a specific contract template to start formalizing the new business opportunity.
The salesperson usually receives a copy of the latest contract agreement by emailing procurement, but that staff member is out of the office for the next week. He locates an email with a contract template that procurement sent him two weeks ago for another client and decides to use that version. Let’s review what challenges are created by this decision and the benefits provided by centralizing your agreements.

Once you’ve taken the first step toward efficient contract management by centralizing your agreements, you can then begin to create libraries of pre-approved contract clauses and templates to further take control of your processes and begin to streamline the overall contract lifecycle. Let’s look at 5 key advantages of using a centralized library of pre-approved contract language, and contract formats.

With the Department of Defense, Department of Energy, Health and Human Services, and Department of Veteran Affairs awarding a combined $276.5 billion in government contracts in 2015, U.S. federal government procurement is a major driver of the U.S. economy. Let’s review some key considerations in risk management for enterprises currently assigned or currently bidding for a government contract.

While using Twitter or Linkedin, you probably have seen the online ads touting artificial intelligence (AI) as the next big thing in contracting. As with any industry buzzword, contract managers may feel pressured to try out AI. But is your enterprise really ready for AI to handle in-house legal work? Let’s review key considerations about implementing AI in contract management.

Contributing an estimated $1.5 trillion, the U.S. aviation system is an important driver of the U.S. economy. But the importance of the aviation industry goes beyond the dollar.  Every day about 70,000 flights take place in U.S. airspace, serving more than 928 million passengers in 2016 alone. Let’s look at some of the reasons the FAA is so inefficient.

In the manufacturing industry, the inability to extract key data from contracts for tracking and reporting purposes is the most frequently cited challenge among those individuals responsible for contract management processes. Let’s review 3 ways in which improvements in CLM software now allow contract managers in the manufacturing industry to make better decisions.

Cash is the lifeblood of businesses of all sizes. Without access to a healthy cash reserve or an operating capital line of credit, an enterprise could be hit with a major cash crunch or, even worse, miss out on several business opportunities. Let’s look at how cntract lifecycle management software helps business secure much-needed financing.

When analyzing areas of opportunity within contract management processes across your enterprise, lack of data can lead you into false analysis. In an April 2017 blog post on the IACCM’s Contracting Excellence Journal, Craig Conte, VP, Head of Contract Compliance & Optimization (CCO) at Capgemini. provides a great example. Here are 5 ways in which CLM software streamlines scheduling of contract management processes.