Last Modified on: 1 year 6 months ago. Written By - mydock account
Contract lifecycle management is a system that oversees the progression and performance of contracts throughout their lifecycles, ensuring that compliance is maintained, dates and deliverables are met, and that the contract is followed appropriately according to its terms. You will monitor numerous KPIs, contract metrics, and data throughout the contract lifecycle to gain valuable insights into how your contract initiatives are faring.
With configurable contract workflows, an automated contract management system standardizes job completion, making it simple to accomplish correct, effective approvals, reviews, negotiations, and more. The alternative to automating contracts and using contract management software is conventional, manual contract administration, which is intrinsically riskier, prone to mistakes made by humans, and more vulnerable to security breaches.
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