Contracts define your business relationships regardless of your company’s size or industry, which is why following best practices for contract management is so critical. They are the backbone of your organization, which is why managing them effectively is critical to the success of your business. But many organizations encounter totally avoidable pitfalls associated with ineffective contract management, such as missed contract deadlines, failure of an audit, unintentional auto-renewals, slow approvals, and version control problems – all of which can lead to a lack of compliance and increased financial, brand, and legal risk.
You can avoid these issues by embracing modern contract management best practices including organizing contracts in one central, secure, and searchable location, setting automated alerts for specific contract milestones, tracking changes to avoid inaccurate or duplicate data, and using workflows to follow business rules.
Digitally transform your contract lifecycle management processes across the pre-execution and post-execution phases of a contract’s lifecycle and achieve CLM excellence.
Complete the form at right you will learn how to:
- Organize, secure and access contracts
- Avoid missed dates and obligations
- Reduce business process bottlenecks
- Track contract redlines and versioning
- Handle contract requests and intake
- And more…
Download your copy of The Top 10 Best Practices for Contract Management Today.
About this Whitepaper and Contract Logix
Over a decade of experience working with in-house legal and contract management professionals has driven the development of this best practices guide as well as the innovation behind the features, benefits, and security you’ll gain from our contract software platform. Contract Logix is one of the longest-tenured CLM providers and works with hundreds of organizations managing millions of contracts using our products. Our team offers a deep set of knowledge that our customers can leverage to truly harness the data in their legal agreements to deliver actionable business intelligence, finalize business faster, mitigate risk, improve collaboration, increase compliance, and operate more effectively.