The best way to implement a contract management workflow in the law department requires an enterprise legal management platform to connect all applications, including contract lifecycle management, work management, AI-powered tools , matter management applications...
Contract Lifecycle Management (CLM) software delivers a comprehensive approach to managing contracts from creation through execution, renewal, or termination. By automating drafting, negotiation, approvals, and oversight, CLM helps legal departments reduce risk...
Summary Global economics, regulatory compliance, cybersecurity, and data security and privacy concerns shaping the legal world require continuous attention to the rule of law. Contract lifecycle management in the legal department must address these issues and...
Contract management tools are essential for corporate legal departments to streamline the contract lifecycle management (CLM) process. Before addressing the types of contract management tools that work best for lawyers, let’s look at the evolution of contract...
By LexisNexis® CounselLink® One of the biggest headaches that in-house counsel grapple with is how to effectively manage their organization’s vast universe of contracts — from complex commercial transactions to routine vendor agreements. Contract...
Influencers and thought leaders in the legal technology space Legal Tech's Predictions for Emerging Technology in 2025 predict blockchain will affect smart contracts and contract lifecycle management in the corporate law department. This prediction brings exciting...
Managing contracts is a pivotal function for legal departments, requiring meticulous attention and precise organization. Legal contract management software is designed to streamline this process, helping legal professionals efficiently manage their contracts while...
LegalTech Breakthrough, a leading independent market intelligence organization that evaluates and recognizes standout legal technology companies, products and services around the globe, recently announced that LexisNexis® CounselLink+™ is “ Contract...
Contract lifecycle management tools enable legal teams to automate the contract management process within the corporate legal department. This critical benefit helps streamline the entire contract management workflow -- from drafting and negotiation to approval...
No matter the size of a business, every business requires contract management software to play a pivotal role. Contracts bind two or more parties with terms, conditions, and expectations. They are the backbone of any business transaction, from hiring employees...
Editor's Note (updated in 2025): To learn more about contract lifecycle management solutions, read Contract Lifecycle Management Overview for Legal Departments and Enterprise Legal Management For Law Departments for an overview about ELM solutions for corporate...
Summary Buying contract lifecycle management software in the corporate legal department can mitigate challenges of daily contract management, workflows, contract drafting, administrative time, work efficiency, user engagement, and so much more. Buying contract...
Editor’s Note (Updated 2025) : For a comprehensive overview, see Contract Lifecycle Management Overview for Legal Departments . For related topics, explore How to Create a Functioning Contract Database and What Are the Benefits of Contract Lifecycle Management...
As companies grow, so too do the transactions that turn into volumes of contracts. Contracts range in complexity, correlating to the type of the deal and whether the contract is written for an individual, a small company offering services, or a merger or acquisition...
Whether you experience an internal or external audit, contract management solutions undoubtedly help mitigate the arduous preparation time. Audits keep the business under constant checks and evaluation, which can lead to improvements. Auditors require mass amounts...