Contractual activities and agreements are an important business aspect, which requires proper oversight. Contract Lifecycle Management (CLM) is the proactive, methodical management of a contract from initiation through award, compliance and renewal.
It can lead to significant improvements in cost savings and efficiency. Understanding and automating CLM can also limit Organizational liability and increase compliance with legal requirements
- CLM Helps Organizations ...
- Contract Lifecycle Management ...
- iConsult brings ...
- Establish timelines for each step in the contract lifecycle
- Allocate staff workload and additional resources
- Create an accurate audit trail for approvals
- Govern Organizational rules and processes
- Measure compliance, deliverables and performance of contracts and suppliers
- Contract managers typically rate their jobs as “challenging”. CLM can alleviate some of the stress by creating an orderly process for each task, resulting in increased efficiency and high productivity.
- Additionally, CLM will result in reduced liability, increased cost savings as well as quality of delivery, hence enhance business relationships.
- The results are tangible, measurable and sustainable. Contract Management costs continue to increase, along with demands for accountability, proper governance and transparency, thus increasing the scope of understanding and automating CLM of any Organization.
- Industry leading capacity to perform complete end-to-end contract life cycle management, including independently interacting with both internal stakeholders and external parties.
- Proven ability to absorb a wide range of complex contract work flows for entire departments or programs of large corporations operating on a global scale.
- In-depth contact-based experience across a range of diverse industries promising the quick and efficient absorption of new markets, and
- Emphasis on working with the client to implement processes that enable maximum leverage of a partnership with iConsult.
Our core capabilities are not merely about revising, analyzing or executing contracts; a vital component of our approach is to view contract management as a business solution and to provide comprehensive legal support to our clients’ non-legal groups with a constant eye toward building efficiencies.