Effective Contract Lifecycle Management (CLM) requires innovative, adaptable and knowledgeable solutions
As companies work to beat out the competition, taking a deeper look into contract management can be a driving force of success. When contracts accidentally expire or key milestones are missed, it can severely handicap business. Effective contract management improves workflow efficiency and leads to a more progressive and well-functioning organization.
Contract Lifecycle Management (CLM) is one of the fastest-growing and important innovations in business today. Spurred by the digital revolution advancing across virtually every key business sector, the CLM market is expected to grow over 13 percent annually for the next decade. But what is it, and why is it such an essential tool for businesses to utilize?