The risks associated with poor contract management include overlooked penalties, lost revenue through ineffectual terms, a damaged brand due to poorly constructed or missed terms, lost savings and opportunities through poor administration…
Lowell, MA (PRWEB)
September 13, 2017
Contract Logix, LLC – a long-time developer of Contract Lifecycle Management (CLM) software solutions – announced today the publication of a new white paper detailing the evolving role of Corporate Counsel in Contract Lifecycle Management. Titled “A Corporate Counsel’s Guide to Successful Contract Lifecycle Management,” this publication outlines ten best practices for mitigating risk in contracting while ensuring the commercial success of agreements.
“Traditionally a Corporate or General Counsel was solely concerned with managing risk in the event of litigation,” notes Contract Logix Vice President of Marketing, Bill Muller. “And while risk is certainly still an important consideration, Corporate Counsels are now leading the charge in the application of technology to contracting processes, encouraging collaboration throughout the organization, and having an overall larger impact in commercial areas of the business.”
The best practices contained in this white paper address the four core components of CLM:
“The risks associated with poor contract management include overlooked penalties, lost revenue through ineffectual terms, a damaged brand due to poorly constructed or missed terms, lost savings and opportunities through poor administration and lost contracts, unexpected renewals and expirations, additional costs to…