Contracts carry enormous amount of information, knowing what has been committed in past can drive better future business decisions. Many of the contracts contain hundreds of important, actionable obligations which need to be closely tracked and managed. Contract migration into a CLM is the way which can yield benefits from having single and unified repository […]

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Contracts, if not managed properly can lead to negative results. Consequences might be a poor relationship with suppliers, vendors, more risk, lost opportunities. Critical information businesses need to make key decisions resides across all your executed contracts. Legal and contracts departments often have thousands of paper documents stored in file cabinets or saved electronically as […]

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Regulation is an official way of doing the things made by an authority which consists of set of rules and trends. It is normally defined as legislation imposed by government authorities on individuals, firms private or public to regulate and amend economic factors. Compliance in law Compliance means following rules and regulations as prescribed in […]

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Lease extraction – the process of retrieving relevant data points from your lease contracts, can have a huge impact on your organization if not tracked properly. A summary of your lease contracts on your fingertips can save you time, money and mitigate risk associated with non-compliance. The process of reviewing lease data for say asset […]

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Is Brexit really happening? The UK government says ‘Yes’ and it is scheduled to leave at 11 pm UK time on Friday, 29 March 2019. Well, whether it happens or not happens, keep that discussion aside for now. What you might be interested in knowing is, how Brexit impacts certain contractual obligations in your existing contracts? […]

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The term “Migration” is used, sometimes loosely to describe getting contracts out of an existing system, or even file folders, into a CLM system.  Migration is the process that takes documents from older systems and puts them into a newer system. Scan – Scan the documents from paper to a file on a computer. This […]

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Contract life cycle management systems (CLM) allow users to centralize contract storage and management, plus aid in the creation of new ones that fully comply with the company’s policies and requirements. This breed of systems provides all of the features of a CMS but add workflows to request, author, negotiate, approve, present, execute, manage obligations, […]

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