With CLM, contract terms and conditions can reflect the key metrics that measure supplier and customer performance.

The tools of contact lifecycle management enable CFOs to reduce costs, more accurately forecast revenue, and improve Sarbanes-Oxley compliance. CLM helps companies optimize contract performance, especially in procurement and sales. The Contract lifecycle management software makes it easier for a company to manage several thousand contracts that may expose the business to risk.Ĭontract lifecycle management is the process of controlling, coordinating, and streamlining all stages in the contract lifecycle. That is where Contract Lifecycle Management software comes in handy. However, with the recent technological advancement, more efficient ways are needed to handle the flow of contracts. In most of the cases, the management may prefer the traditional method of filing and managing the contracts. While contracts are beneficial to the organization, some of the contracts are simple and straightforward, while others may require more diligence handling due to the level of complexity.

These contracts may arise from different formats such as employees’ application letter, invoice, POS, and utility contracts. Regardless of the specialty of the business, there is a possibility that you will encounter several contracts daily.

Ariba contract management