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Learn the ins and outs of contract lifecycle management.
With the right tools and resources, managing contracts can be a smooth and seamless process. Learn how to avoid bottlenecks and speed up approval time with contract lifecycle management.
What is contract lifecycle management?
From employment agreements to property leases, contracts are an important part of keeping your business running. And contract lifecycle management (CLM) is the process a business follows to track and organize contracts — from creation to execution. With CLM software you can streamline the process of creating, signing, and renewing contracts of all kinds.
The benefits of a contract lifecycle management solution.
CLM software can save your business time, resources, and money. By digitizing your contract management system, you save on paper and office costs. And with a digital contract workflow, you can save time gathering signatures, which lowers your admin costs, makes your contracts more efficient, and protects your business from legal liability. CLM also makes it easier to predict revenue for your business. And when you can plan ahead financially, you can better identify areas for growth for your business and team.
7. Contract expiration and renewal.
Don’t let an expiring contract cause problems for your business or affect increases to your bottom line. You can use automation to renew contracts and collect signatures. Set up notifications or alerts for each contract or for major milestones for your client, and ensure customers have enough notice to seamlessly renew their contract without missing coverage or incurring liability.
Boost contract management system efficiency with e-signatures.
Digitizing the contract process saves you time, but using e-signatures is what really speeds things up. Instead of using paper documents or complicated email chains with scanned documents, use a CLM with electronic signatures to automate your process, speed up approval times, and avoid errors. Requests for e-signature notifications can appear right in your client’s email inbox, easily improving turnaround time for contract approval.
Use Acrobat Sign to streamline your contract lifecycle management process.
With the e-signing process in Acrobat Sign, you can further speed up your workflow with a digital form submission, and then track the progress of signatures you’ve requested. From there, you can assign stakeholders, set reminders for your recipients, and use notifications to avoid missing deadlines. And with the Acrobat Sign mobile app, your clients and customers can safely and securely approve contracts on the go.
And with the seamless integration of Acrobat Pro and Acrobat Sign, you can access contract templates, past signatures, and other related documents in a snap. With everything you need for contract lifecycle management in one place, you can save time and resources while getting your documents approved.