Contracts are the lifeline of modern business. Without them, there wouldn’t be company partnerships, employment opportunities, or the exchange of goods and services. We already know that contracts play such a critical role in business but Contract lifecycle management (CLM) is the glue that holds the whole process in place.
It is thanks to CLM platforms and systems that you are able to optimize the process without losing sight of what’s important for your company’s growth.
In this article we will examine the ins and outs of Contract lifecycle management.
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Improving your candidate selection, onboarding, and signature process via contract automation
on August 10, 2021More and more companies are looking into ways to automate contracts and the benefits of doing so. Today, we explore the most common use cases for contract automation in HR and how you can improve your candidate selection and onboarding process via contract automation.
Contract automation via smart contracts helps companies manage proactively the large quantities of data their HR departments deal with on a daily basis.
Reading time: 5 minutes. Photo by Austin Distel on Unsplash.
Read moreSmart Contract Solutions for Efficient Contract Management
on August 3, 2021Contracts are an important aspect of any business. But without a plan in place, the contract management process can become overwhelming and full of risky manual errors.
There is the need to have a plan in mind to set up a smart contract management process to drive efficiency in organisations.
Reading time: 4 minutes. Photo by krakenimages on Unsplash.
Read moreThe right cost of legal tech
on July 30, 2021The business world has deep roots in technical innovation – a rich tradition that now translates into blockchain adoption and the implementation of smart contracts. From a legal operations perspective, success is supported by adopting legal tech in a company. Corporate legal counsels are able to perform at great speeds. They are able to pay close attention to a great many details.
Nevertheless, companies required a significant change to their legal operations. Or to put it differently – the right cost of legal tech is crucial to improving operations. As legal teams become overwhelmed, stressed and understaffed, automating outdated manual processes for contract drafting and contract management is the first step.
So how do you increase productivity and efficiency for your legal teams via smart contracts?
Reading time: 3 minutes
Read moreAutomating controls and compliance with blockchain
on July 28, 2021Automating controls and compliance with blockchain is the next step in the digital transformation of companies of all sizes and types. Blockchain technology can create greater efficiency than we’ve ever known, while reducing delays, costs and errors.
Reading time: 3 minutes. Photo by Maximalfocus on Unsplash.
Read moreUnderstanding Smart legal contracts
on July 20, 2021Understanding smart legal contracts – a computer protocol intended to digitally facilitate, verify, or enforce the negotiation or performance of any agreement between participants on the blockchain.
Reading time: 4 minutes.
Read moreCan automation solve the hold-up problem in contracts?
on July 20, 2021A hold-up problem in contracts is the situation where after one party has made some relationship-specific investment, the counterparty refuses to fulfil the original terms of the contract asking for better conditions.
Reading time: 4 minutes. Photo by Kai Pilger on Unsplash.
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