How Contract Lifecycle Management Works - Contract Logix
How CLM Works

How Contract Lifecycle Management Works

Your contracts are not just an administrative part of your business, they are strategic. They are core to your strategy of minimizing your legal, financial, and even public relations risk. So, let’s look at how contract lifecycle management works and the benefits it provides.

Replacing manual legacy contract management with an automated contract lifecycle management (CLM) system will streamline your processes and accelerate your velocity to contract value. It will improve accuracy and decrease things that “fall between the cracks.” It will protect your organization from an audit. It will save time and money. And when we talk about contract RISK, we could be talking about a LOT of money.

In a nutshell, here’s how CLM works:

Store your contracts in a highly-secure central repository including role-based security.

Standardize the language of your contracts using pre-approved clause and template libraries.

Use those libraries to produce your contract documents within the system, tracking all redlining and approvals.

Provide simple forms for casual internal users; as well as external partners, customers, and resellers, to request and submit contracts.

Define workflows that route the contract document through the steps and people required for approval and execution.

Leverage alerts as reminders of important contract dates, terms, and milestones requiring action.

Use reports and dashboards to track contract statuses, as well as workflow performance to identify bottlenecks that are opportunities for optimization.

How Contract Lifecycle Management Works

The IACCM estimates the cost of inefficient contract management to be more than 9% of total annual revenue.

Source: The International Association for Contract & Commercial Management

How Contract Logix Makes It Work.

At Contract Logix we have leveraged our many years of experience with organizations like yours to translate the complexities of contract lifecycle management into software products that make it easy for users create, negotiate, approve, execute, and manage their contracts.

Whether you choose our Express product to simply store and managed your executed contracts, or our Premium product to create contracts and manage them through their entire lifecycle, here are some of the ways Contract Logix makes CLM work for you.


We’ve made it easy for you to learn, use, and adopt our products to do your job by providing a very modern, intuitive interface and keeping it simple for everyday business users to use and administer.


We’ve built our software to be fully responsive and accessible using any browser and device anytime and anywhere you need to manage your contracts. Your work doesn’t always occur at the office.


We’ve enabled you to store and manage all your contract, contact, and organization data, as well as your related documents and supporting materials. Drag and drop functionality helps make this easy.


We’ve chosen state-of-the-art Microsoft Azure to host our products and your data. Data is always encrypted at rest and in transit. Role-based security controls your users’ access to information.


We’ve empowered you to set up unlimited email and in-system alerts, as well as assign tasks to remind yourself of important contract terms, dates, and milestones. Never miss one again.


We’ve empowered your non-legal staff to generate legally-compliant contracts using pre-approved clause language and contract templates (and even alternative language) defined by your legal team.


We’ve enabled you to define controlled contracting processes to which end-users must adhere for requests, reviews, approvals, and post-execution compliance – based on your business rules.


We’ve provided the ability for you to include your casual users, customers, partners, resellers and others outside your business to request and submit contracts via simple, intuitive forms.


We’ve allowed you to more quickly and efficiently close the loop with final execution of your agreements by routing contracts to appropriate parties for signatures.


We’ve given you standard and user-defined reports, as well as graphical dashboards to track your contracts, and view KPIs on the timing of every step of your contract lifecycle to identify bottlenecks.

See how a contract management system from Contract Logix can optimize contract processes for your department and for companies in your industry.



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