October 20, 2022
Contract lifecycle management (CLM) is taking the legal industry by storm—projected to grow at a 13.5% compound annual rate from 2022 to 2032. But only fairly recently did it become possible to streamline contracting at every stage of the process, including creation, review, negotiation, approval, execution, and renewal.
With so much of a legal department’s time spent on mundane due diligence across thousands of contracts every year, CLM software adds high-level oversight to the process. Beyond the obvious benefits of CLM, automation can take legal teams one step further, reducing strenuous workloads, expediting time to close, and reducing company risks in significant ways.
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