Forescribe Glossary
What is Contract Lifecycle Management (CLM)?
The process of managing the end-to-end lifecycle of software contracts, from initiation through negotiation, execution, and renewal.
Why it Matters
Effective contract lifecycle management minimizes risks and maximizes value by managing contracts at every stage.
Benefits
- Streamlines the contract process
- Ensures timely renewals
- Supports legal and procurement teams
- Facilitates vendor negotiations
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