Category

Bilateral Contracts Explained: Here’s What Businesses Need to Know

Ganesh HegdeAug 31, 2023 CLM No Comments

Bilateral Contracts Explained: Here’s What Businesses Need to Know

What is a Bilateral Contract? Contracts serve as the cornerstone of legal agreements in various domains, ensuring that promises are exchanged, obligations are met, and expectations are fulfilled. A bilateral contract is a binding agreement in which...

Unilateral Contract: Definition, Elements & Operational Framework

Ganesh HegdeAug 29, 2023 CLM No Comments

Unilateral Contract: Definition, Elements & Operational Framework

CLM

A Comprehensive Guide to Unilateral Contracts Contracts are the backbone of legal agreements, shaping the dynamics of various interactions, including personal and business relationships. Contracts form an indispensable foundation for the systematic functioning...

Contract Repository: Why Should Firms Embrace Digital Contract Storage?

Gaurav B RJun 28, 2023 CLM No Comments

Contract Repository: Why Should Firms Embrace Digital Contract Storage?

CLM

From client relationships, employee agreements, vendor agreements, to sale deeds, contracts form the backbone of all business relationships. According to Cottrill Research, close to 60-80% of business operations are governed by contracts. However, the...

Contract Creation Through CLM – Everything You Need To Know

Gaurav B RJun 07, 2023 CLM No Comments

Contract Creation Through CLM – Everything You Need To Know

CLM

A Brief Introduction To Contract Creation On CLM Contract creation is of utmost importance for business organizations as it establishes legal protection, defines rights and responsibilities, manages risks, ensures clarity in business relationships, and...

Employment Contracts – What Are They & How To Manage Them

Gaurav B RApr 10, 2023 CLM No Comments

Employment Contracts – What Are They & How To Manage Them

CLM

A Brief Overview Of Employment Contract Management Managing employee contracts is a massive operational challenge for organizations. The biggest issue with employee contract management is rolling out employment contracts complying with legal and organizational...

Contingent Contracts – What They Are & Where To Use Them

Gaurav B RMar 24, 2023 CLM No Comments

Contingent Contracts – What They Are & Where To Use Them

CLM

What Is A Contingent Contract? A contingent contract is an agreement in which the parties involved agree to fulfill obligations only if a specified scenario or event occurs in the future. The occurrence of the stated event will determine whether the parties...

Complete Guide to Contract Management in Procurement

Gaurav B RFeb 23, 2023 CLM No Comments

Complete Guide to Contract Management in Procurement

CLM

Contract Management in Procurement – Overview Procurement contracts, also known as purchase contracts, are agreements between buyers and sellers that create a legally binding relationship that protects both parties during the procurement process....

Signing Of Contracts – How To Sign Contracts Online The Smart Way

Gaurav B RFeb 15, 2023 CLM, eSign No Comments

Signing Of Contracts – How To Sign Contracts Online The Smart Way

CLM, eSign

A Brief Overview Of Signing Of Contracts The signing of contracts is not only a ubiquitous activity but also a powerful legal act that indicates contractual terms and conditions have been consented to and act as evidence. Without a valid signed contract,...

Contract Negotiations With CLM – Everything You Need To Know

Gaurav B RJan 06, 2023 CLM No Comments

Contract Negotiations With CLM – Everything You Need To Know

CLM

What Is Contract Negotiation? Contract negotiation is the process of reaching an agreement by negotiating a set of legally enforceable terms (in this case, between two firms). When two firms negotiate, both want beneficial terms while minimising financial,...

Breach of Contracts – How To Avoid Breaches With Smart CLM

Gaurav B RNov 08, 2022 CLM No Comments

Breach of Contracts – How To Avoid Breaches With Smart CLM

CLM

Breach of Contracts – What is it & How to Avoid it? Business organizations deal with numerous contracts on a large scale. Breach of contracts is one of the main factors for unsuccessful business deals. This is because managing contracts and...

Termination Of A Contract: Everything You Need To Know

Gaurav B RNov 02, 2022 CLM No Comments

Termination Of A Contract: Everything You Need To Know

CLM

Termination Of Contracts – What Is A Contract & How To Terminate One Termination of contract is regarded as a legal procedure to end a contract before performance has been completed, with a reasonable basis. Deal termination is the most simple...

Contract Management Software – Complete Account For New-Age Businesses

Gaurav B ROct 20, 2022 CLM No Comments

Contract Management Software – Complete Account For New-Age Businesses

CLM

Contract Management Software – An Essential Business Tool In an era where every business process is driven by technology, contract management software is fundamental for growth. It is designed to enable businesses to implement all their documents...

Challenges In Contract Management And How CLM Solves Them

Gaurav B ROct 06, 2022 CLM No Comments

Challenges In Contract Management And How CLM Solves Them

CLM

Why Is Contracting Crucial For Modern Businesses? Contracting has a significant impact on business performance because it sets a strong emphasis on revenue and expenses pertaining to any business undertaking. When businesses phrase their contracts inefficiently,...

Different Types Of Construction Contracts

Gaurav B RSep 07, 2022 CLM No Comments

Different Types Of Construction Contracts

CLM

What is a Contract? A written or verbal agreement between two or more parties that establishes a legal obligation is referred to as a contract. A contract’s terms are legally binding and have specific consequences and remedies in the event that...

What Is A Contract? Meaning, Types, Significance & Uses Explained

Gaurav B RAug 08, 2022 CLM No Comments

What Is A Contract? Meaning, Types, Significance & Uses Explained

CLM

What is Contract & Why is it Important? Contract Definition, Its Significance in Business Explained What is a contract from a business perspective? To answer this question it is vital to understand that a contract is fundamental to making any agreement...

How Legal Contract Management Software Enhances Efficiency In Contracting

Gaurav B RAug 04, 2022 CLM No Comments

How Legal Contract Management Software Enhances Efficiency In Contracting

CLM

Legal Contract Management Software – Industry Benchmark for Firms The legal sector has become a hotspot for widespread contract and workflow automation, for good reason. According to the 2019 ACC Benchmark Survey, 80.8% of in-house lawyers had to...

What Are The Different Types Of Contracts?

Gaurav B RJul 26, 2022 CLM No Comments

What Are The Different Types Of Contracts?

CLM

Introduction A contract is an enforceable legal arrangement that establishes, details, and regulates the rights and duties of the parties. The transfer of commodities, services, money or a promise to transfer any of those at a later time are common components...

Why Investment Firms Need Smart CLM For Securities Management

Gaurav B RJun 14, 2022 CLM No Comments

Why Investment Firms Need Smart CLM For Securities Management

CLM

Contract Management for Financial and Investment Firms Banks, venture capital firms, insurance businesses, financial institutions (FIs), money markets, and other sectors make up the Financial Services industry. These organizations contribute to the...

Role of Contract Lifecycle Management in Media and Entertainment Industry

Gaurav B RJun 09, 2022 CLM No Comments

Role of Contract Lifecycle Management in Media and Entertainment Industry

CLM

Contracting In Media & Entertainment The media and entertainment industry keeps everyone glued to their favorite entertainment channels and online streaming services, from blockbuster movies and daily TV shows to music hits. The creation of entertainment...

Why Contract Management Software is Essential for the Food & Beverages Industry

Gaurav B RJun 06, 2022 CLM No Comments

Why Contract Management Software is Essential for the Food & Beverages Industry

CLM

Contracting in the Food & Beverages Sector The Food & Beverage (F&B) industry has numerous regulatory issues, including ensuring adherence to the Food Corporation of India (FCI) and Department of Agriculture of India’s (DAI) ever-increasing...

How Contract Lifecycle Management For Manufacturing Sector Can Modernize Traditional Documentation Processes?

Gaurav B RJun 02, 2022 CLM No Comments

How Contract Lifecycle Management For Manufacturing Sector Can Modernize Traditional Documentation Processes?

CLM

From the CEO to sales reps and project managers, each person in the manufacturing industry is pressured to speed up operations and adapt to managing complex business configurations and relationships. A critical area of transformation for this sector is...

Advantages of Using Contract Lifecycle Management (CLM) Software in Real Estate Sector

Gaurav B RMay 11, 2022 CLM No Comments

Advantages of Using Contract Lifecycle Management (CLM) Software in Real Estate Sector

CLM

How Can CLM Improve Efficiency in Property Document Workflow? Incorporating AI-powered tools throughout a contract’s lifecycle can enable real estate firms to accelerate property transactions and achieve better results. A smart CLM software can empower...

Contract Lifecycle Management (CLM) in Transport & Warehousing Industry

Gaurav B RMay 10, 2022 CLM No Comments

Contract Lifecycle Management (CLM) in Transport & Warehousing Industry

CLM

Widespread Digitization in Transport and Warehousing Due to the advent of e-commerce and globalization, the transportation and logistics business has seen tremendous expansion in the previous decade. Service providers must delve into digital software...

7 Upcoming contract lifecycle management trends to watch out for

Adithi MMay 06, 2022 CLM No Comments

7 Upcoming contract lifecycle management trends to watch out for

CLM

In recent years, the realm of contract lifecycle management has changed immensely. Organisations of all sizes are faced with the challenge of juggling many contracts at the same time, each at a different point of the contract lifecycle. They must constantly...

Role of Smart Contract Lifecycle Management (CLM) in Information Technology (IT) Sector

Gaurav B RApr 28, 2022 CLM No Comments

Role of Smart Contract Lifecycle Management (CLM) in Information Technology (IT) Sector

CLM

Contract Lifecycles in Information Technology (IT) In the technology industry, where products and services move and adapt at breakneck speed, innovation is critical. To keep up with the pace of business and stay ahead of the competition, information technology...

Advantages of Smart Contract Lifecycle Management (CLM) in the Insurance Sector

Gaurav B RApr 22, 2022 CLM No Comments

Advantages of Smart Contract Lifecycle Management (CLM) in the Insurance Sector

CLM

Smart Contract Lifecycle Management: How CLM Transforms the Document Workflow Process in Insurance Firms Insurance firms face a wide array of challenges when it comes to contract creation, execution, and maintenance. Implementing a well-planned contract...

Importance of Contract Lifecycle Management (CLM) in the Finance Industry

Gaurav B RApr 19, 2022 CLM No Comments

Importance of Contract Lifecycle Management (CLM) in the Finance Industry

CLM

How To Streamline And Automate Financial Workflows Using Contract Lifecycle Management (CLM) CLM or Contract Lifecycle Management is a tool for financial institutions to create and implement smart, well-ordered, and dynamic management systems for contract...

Contract Lifecycle Management (CLM) and Its Uses In Construction Businesses

Gaurav B RApr 06, 2022 CLM No Comments

Contract Lifecycle Management (CLM) and Its Uses In Construction Businesses

CLM

What is Contract Management? At its finest, contract management is about risk management and relationship management. A contract is, at the most basic level, is a document that describes a connection between two parties, what each of them agrees to do,...

Overcoming Contracting Risks In Healthcare Using AI-Powered Contract Automation

Gaurav B RMar 25, 2022 CLM No Comments

Overcoming Contracting Risks In Healthcare Using AI-Powered Contract Automation

CLM

Contracting In The Healthcare Sector Healthcare institutions contract several individuals and entities on a regular basis to deliver their services. During any given time, the average hospital is under contract with pharmaceutical suppliers, medical supply...

Role of Contract Lifecycle Management (CLM) in the Pharmaceutical and Medical Industry

Gaurav B RMar 15, 2022 CLM No Comments

Role of Contract Lifecycle Management (CLM) in the Pharmaceutical and Medical Industry

CLM

Contract Management In The Pharmaceutical Sector Due to increased globalisation & widespread changes in the supply chain, compliance with regulations for the pharmaceutical sector is growing increasingly difficult. Often, these compliance burdens...

Effective contract management systems can make the education sector more efficient

AbhijithJan 31, 2022 CLM No Comments

Effective contract management systems can make the education sector more efficient

CLM

The education sector is currently at an inflection point in the face of unprecedented challenges. While it faces this critical juncture, it has to implement sweeping changes in the way it deals with various stakeholders. Well-defined contracts are the...

Streamlining Key HR Processes With Digital Contracts & eSign

AbhijithJan 12, 2022 CLM, eSign, Video KYC No Comments

Streamlining Key HR Processes With Digital Contracts & eSign

CLM, eSign, Video KYC

Automating HR Contracts & Employee Onboarding AI is set to revolutionize industry practices in the HR sector. According to NetSuite, about 57% of HR verticals plan to improve employee experience using AI and about 41% of companies will utilize AI-based...

New-age tools to overcome the retail industry’s contract challenges

AbhijithJan 10, 2022 CLM No Comments

New-age tools to overcome the retail industry’s contract challenges

CLM

In recent times, and especially during the last two years, the retail industry has reached a definite Y-point. With advancements in technology and evolutions in consumer behavior, the sector has to rise up to the challenges of a fast-changing industry...

How the BFSI industry can overcome contract management inefficiencies with smarter solutions

AbhijithDec 09, 2021 CLM No Comments

How the BFSI industry can overcome contract management inefficiencies with smarter solutions

CLM

Water-tight contracts are the building blocks of an organization. From managing employees and complying with government regulations, to transacting with vendors or buyers, concrete contracts specify how an organization behaves and, thereby, define its...

How contract workflow automation can benefit businesses in this digital age?

AbhijithNov 29, 2021 CLM No Comments

How contract workflow automation can benefit businesses in this digital age?

CLM

Contracts are more than just words on a page. These documents set the wheels in motion and hold businesses and their clients accountable for sticking to commitments. They affect more than just the people at the negotiating table. Given the significance...

What is Contract Lifecycle Management & How does it Work?

AbhijithNov 04, 2021 CLM No Comments

What is Contract Lifecycle Management & How does it Work?

CLM

Smart CLM is a vital upgrade on Manual Contracting World Commerce and Contracting report that poor contract management practices cost businesses an average of 9% of their annual revenues. Drafting, negotiating, and executing several contracts manually...

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