Make More Contract Lifecycle Management Important

However, no matter what are the root causes, contract value leakage can be very damaging for a business. If it is happening, the anticipation of the worth of the project can be lost. Moreover, you may lose potential revenue as well. Additionally, if you have not approved the language before the approval, you are taking unnecessary risks. CLM is a wonderful system to combat these leakages in both situations, i.e. pre and post-signature processes. The system achieves this target by keeping the contract at a single and centralized repository. Furthermore, CLM has better control and visibility. You can define the permissions and controls automatically before giving permissions for workflow, so the chances of violations minimize.

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• Category: Business Loan
• Tags: administrating contracts, create customized contracts, electronically signed contracts