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How to choose a Contract Lifecycle Management (CLM) software?

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Contracts and agreements are an important part of any company’s operations. Some address the legal obligations between the company and other parties and some relate to purchase/sale of products and services among other things. Since contracts are negotiated individually and changes are made on a case by case basis, they require legal reviews and management approvals.  Once a contract is in place, it needs to be monitored for compliance, expiration and renewals and triggered events as required. Amendments and subcontracts need to be generated as needed over the life of a contract. Despite the importance of the contract management process,…

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Integration of Contract Lifecycle Management and Electronic Signatures

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As the electronic signature solutions become more popular, there are questions regarding their integrity as stand-alone applications.  If the e-signature process is not integrated with the contract management process, what is the guarantee that someone has not intercepted an email and simply e-signed the document without the knowledge of the real signatory? In a well-integrated process, the integrity concerns are significantly diminished. As Axxerion has demonstrated with its integration with DocuSign, the contract management workflow guarantees that the approval process has been in place and documented before a document becomes available for e-signature. For example, as a services contract is…

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Managing Consultant Contracts – How to get a handle on it!

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Many companies use consultants for a variety of projects and tasks.  Consultants may be teams from the larger consulting companies all the way to individuals working as single-person consultants. The consulting work may be done on the premises or off site at the consultants offices or a combination of the two approaches.  While consultants play vital roles for many companies, traditionally they do pose their own set of unique issues and challenges for the finance, legal and human resources departments as explained below.  Taking advantage of some of the new contract lifecycle management technologies would help alleviate many of these…

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