Contract lifecycle process is an extensive process that requires the expertise of industry experts. Contract lifecycle management is defined as the activity of managing every phase in the contract creation and execution process. While contract management denotes managing contracts effectively, contract lifecycle management is a holistic process that nurtures the relationship between the involved parties and measures the performance of contracts using key parameters.
Organizations have begun to focus on the contract lifecycle management process since it gives an overall insight into the contractual affairs to the stakeholders. One of the best practices used by contract managers in getting the most […]