Contract Lifecycle Management Services

1. Contract Lifecycle Management Services Contract Lifecycle Management services (CLMS) is a technology enhanced contract realisation process. It simply means effectively administering contracts and relationships between entities by strategically going through every stage of contract management resulting in reducing, eliminating or mitigating financial, legal and procurement risks. Contract lifecycle covers any process that brings the parties a step ahead in discharging their obligations right from the initiation involving drafting through to execution and closure. When it comes to contract lifecycle management services, the first thing that comes to the mind is that it is a wholly technology driven process. That is true to an extent but contract is a legal document which would definitely require human intervention and that too of a legal expert as it involves various traditional stages which could only be evaluated by a human mind. ********************************************************************************************************