Essential Role of Buy-Side Contract Lifecycle Management in Business Success
Contracts are the foundation of effective company operations. Whether you're buying or selling, having a solid system in place to manage this important paperwork is key. Contract lifecycle management (CLM) is a critical solution in this situation. QKS Group reveals that Buy Side-Contract Lifecycle Management (CLM) Market is Projected to Register a CAGR of 12.30% by 2028. CLM simplifies the whole contracting process to ensure efficiency, compliance, and profitability. In this post, we'll look at the critical function CLM plays in both buy-side and sell-side business operations, emphasizing its significance across several departments. What is Buy-Side Contract Lifecycle Management? Contract lifetime Management (CLM) refers to software that automates and streamlines the whole contract lifetime, including creation, negotiation, approval, execution, analysis, compliance, and renewal/expiry. The CLM software also serves as a single repository for a...