Contract Lifecycle Management (CLM)

Contract Lifecycle Management (CLM) refers to the process of managing contracts from creation to execution, performance tracking, and renewal.

Effective CLM ensures that contracts are properly negotiated, fulfilled, and monitored throughout their life.

This process reduces risks, ensures compliance, and maximizes the value derived from contracts. A well-managed contract can improve supplier relationships and performance by setting clear expectations and responsibilities.

For example, a company might use CLM to ensure that a supplier is meeting the agreed-upon delivery schedules and quality standards.

Relatico supports CLM by providing tools for tracking contract performance, compliance, and renewal dates, streamlining the entire contract management process.

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