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Contract lifecycle management (CLM) is the proactive, methodical management of a contract from initiation through award, compliance and renewal. Implementing CLM can lead to significant improvements in cost savings and efficiency. [ 1 ]
Ironclad is a software as a service company that makes contract management software. Founded in 2014 and headquartered in San Francisco, California , Ironclad provides a platform for legal and business teams to create, store, and manage contracts online in a process known as contract lifecycle management .
This requires contract management software, or contract risk management software (CRMS), to become more dynamic and responsive. The terms of these capex contracts necessarily involve assumptions at the start of the process and are likely to change over the lifetime of the project lifecycle. For this reason, CRMS must be capable of recording one ...
The Configuration Lifecycle Management (CLM) Summit, organized by Configit, is a forum established to further develop CLM as a discipline. [15] The first Inaugural CLM Summit was held in September 2015 at Lake Lanier, Georgia with participants from various industrial and educational organizations.
Contract management or contract administration is the management of contracts made with customers, vendors, partners, or employees.Contract management includes negotiating the terms and conditions in contracts and ensuring compliance with the terms and conditions, as well as documenting and agreeing on any changes or amendments that may arise during its implementation or execution.
The company's flagship product, Icertis Contract Intelligence, is a contract lifecycle management platform, [13] which allows a company to digitize and store all of its contracts in the cloud. [1] [12] The platform utilizes artificial intelligence (AI) technology to identify problematic contract clauses and flag potential compliance issues.
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