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aerenlpo · 13 days ago
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What is Contract Management? Process, Benefits and Best Practices
Not every legal fire starts with a lawsuit, some begin with a missed contract clause, an expired NDA, or a forgotten renewal buried in someone's inbox. For legal teams managing high-stakes relationships, even a small contract slip can snowball into compliance risks, billing errors, or lost revenue.
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That's why contract management is no longer just a back-office task. It's a front-line strategy in the legal field . Whether you're navigating vendor contracts, client agreements, or internal approvals, the right process can be the difference between control and chaos.
What is Contract Management?
Contract management is the process of handling contracts from draft to signature, renewal, and even termination. It includes everything from negotiation and compliance checks to deadlines, version control, and reporting.
For legal teams in healthcare, technology, insurance, and manufacturing, this isn't just admin work, it's risk mitigation, revenue protection, and regulatory compliance all rolled into one.
The Contract Management Process
We can simplify it into straightforward steps, or lifecycle contract management for short:
1. Contract Creation This is where it all starts. It begins with a draft produced by employing approved templates. Most legal departments nowadays employ automated clause libraries to accelerate it and make it compliant.
2. Contract Negotiation
This phase includes roundtrip editing with counterparties. Version control is important here. Without it, changes are lost or approvals are held up.
3. Approval Workflows
Contracts are reviewed legally, financially, and sometimes procurement-wise before signature. Sending them through a centralized platform ensures everyone stays aligned.
4. Execution
Signatures are gathered, typically electronically by means of software such as DocuSign or Adobe Sign. This is where CLM contract management software comes in handy, providing you with visibility on who signed and when.
5. Storage & Retrieval
In case contracts end up hidden in inboxes or housed across multiple systems, they might as well not exist. Centralized, searchable repositories are a necessity.
6. Compliance & Monitoring
Deadlines, auto-renewals, and audit trails are involved here. Alerts and dashboards keep you a step ahead of commitments.
7. Renewal or Termination
The cycle closes (or begins again) with a choice: Do you renew, renegotiate, or cancel? Forefront alerts can avoid expensive auto-renewals.
Key Benefits of Effective Contract Management
Let's talk value! Real, tangible results that legal teams can expect when legal contract management is done right.
Save Time and Headaches
Automated workflows mean fewer emails, no missed approvals, and faster turnaround times.
Lower Legal Risks
With better oversight, you reduce exposure to non-compliance, missed SLAs, and unauthorized contracts.
Boost Revenue Opportunities
Catch opportunities for upsells or renewals. No more revenue leakage due to missed deadlines.
Improve Cross-Team Collaboration
Legal, sales, procurement, and finance can work together more easily when contracts are stored in one place.
Ensure Regulatory Compliance
Industries like healthcare and insurance face heavy compliance demands. A strong contract management system keeps you audit-ready.
Best Practices for Smarter Contract Management
Getting contracts under control doesn't have to be overwhelming. Here are some best practices:
Use a CLM Platform
Invest in contract lifecycle management tools that support automation, tracking, and smart alerts. Look for customizable workflows and integrations with your legal tech stack.
Standardize Templates & Clauses
Build a library of pre-approved clauses and templates. This reduces errors and accelerates drafting.
Define Ownership
Know who's responsible at each step, legal owns the language, procurement owns the vendor, etc. Clear ownership prevents bottlenecks.
Monitor KPIs
Track cycle time, approval time, and missed obligations. Metrics help improve performance and justify tech investments.
Stay Audit-Ready
Keep contracts in a centralized repository with metadata, version history, and access logs. Being audit-ready isn't a once-a-year thing, it's every day.
Final Thoughts
Contracts power your business, but only if managed right. With rising contract volumes, growing regulatory pressure, and higher client expectations, manual methods won't cut it anymore.
Smart contract management isn't just a legal task, it's a business strategy. And for legal teams aiming to scale, streamline, and stay compliant, it's non-negotiable.
At Aeren LPO, we support legal departments, law firms, and vendors with contract lifecycle solutions tailored to your needs, from contract review to contract abstraction and beyond. If you're ready to ditch the spreadsheets and gain control, we're ready to help.
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codehunger · 4 years ago
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Docusign refresh token - increase access token life span
Docusign refresh token – increase access token life span
In this blog, we will see how we can increase access token life span by DocuSign refresh token in laravel, as you see by default access token life span is 8 hours and after that again you need the access token in order to call DocuSign API. But by using the DocuSign refresh token we can again create the access token by which we call the API’s. To call the refresh token API , remember you…
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contraxaware · 6 years ago
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How Cloud-Based Contract Management Software Improves Your Security
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Security has become an increasing concern for businesses in a wide range of industries. As many as 55% of small businesses reporting a cyber attack within the last 12 months. Many small businesses are looking for new ways to improve their overall security and protect their customers. One solid method is using smart, cloud-based contract management software with the security you need to protect your business. There are several ways your contract management software can help improve your overall security when you select the right solution for your business. But you have to carefully select the right CLM software with the features you need to make it happen. Read through our guide for selecting the right contract management software so you can tap into these security benefits:
1. Documents are sent through DocuSign for signatures. 
DocuSign provides a secure method to acquire the vital signatures you need. This is much more secure than attaching those files to emails, which can leave them much more vulnerable. As a result, you have more secure documents with virtual signatures that are every bit as valid as a physical signature. Even better, they’re all stored in one system that is easy for your team to access but difficult for hackers to get to. DocuSign provides full document encryption, which means that the data is stored and protected even as it's transmitted and accessed. Also, your recipients don't have to download an insecure version of that document in order to sign it. 
2. Cloud-based contract management solutions make it possible for you to monitor and track access, requests, and edits.
Who is asking for permission to view your contracts?  Equally importantly, who was the last person to make edits to your contracts? By knowing exactly who is accessing and editing your contracts, you can track who has made important changes. You can also lock down contracts to prevent unauthorized changes from going through and ensure that if someone does access the contracts that shouldn't.  This security won’t prevent easy access by authorized parties. You can still review documents and make any necessary changes immediately. You'll also know if someone has accessed or attempted to access contracts they should not have access to. This passive prevention system can provide early warnings about an employee who could cause trouble for your business or even a pending cyber attack. 
3. No one has to download documents to work on unsecure systems at home.
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You take many steps to ensure the security of your workplace, including your network. Unfortunately, your employees do not take those same measures on their home networks. Sometimes, employees need to take work home. They need to complete it after hours, they need to work from home for the day, or they just need to finish up something important before calling it a day. But without any protection, this can be risky. With a smart, cloud-based contract management system, your employees won't be downloading those documents to their personal or work machines. Cloud-based contract management systems create a secure database and work environment. Your business’s security won’t rely on the unsecure nature of your employees’ home networks. Instead, authorized users can access those documents through the same cloud system they use for work every day. This provides a critical extra layer of security. 
4. You can easily manage external user access.
There are times when you want to allow outside users access to your files. For example, you might want to give clients the ability to view their contracts. Cloud-based contract management software can provide that access to external users, but it lets you limit the access. Customers, third-party attorneys, and subcontractors can do their part without compromising your security. Thanks to your cloud-based storage solution, those users can also easily access the files from anywhere. They can sign, redline, approve changes without needing to come into your office. But they can only access what you give them permission to see. 
5. You can create tiers and levels of access. 
Some users within your company need to be able to access more of your data than others. Negotiators, for example, may need to be able to access contract templates or information about how far your business is willing to negotiate on certain vital contract points. Salespeople and administrators may need permission to edit contracts, reject them outright, or offer suggestions for improvement.  No matter which department they work for, users may only need to be able to access contracts they, specifically, have input on. Very few employees should have full viewing and editing rights in the entire system. With a smart, cloud-based contract management solution, you can easily create tiers and levels of access. Then you can control what access your users have to specific information based on their role. When employees change roles, you can easily modify their access to fit their new role or switch an employee from one role’s set of permissions to another.Keeping your contracts secure is every bit as important as protecting the rest of your business's data. Your contract management software is an important security tool. When you choose your contract management software, keep security as one of your top priorities. Search for cloud-based management solutions that will make your data accessible from anywhere with the security you need to protect your clients and your business. Contact ContraxAware today to learn more about our specific security features. Read the full article
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shah2323-madtitan · 5 years ago
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Wipro to acquire 4C, a leading Salesforce multi-cloud partner in Europe and the Middle East, with deep Quote-to-Cash expertise
BANGALORE, India & MECHELEN, Belgium–(BUSINESS WIRE)–Wipro Restricted (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading international info know-how, consulting and enterprise course of providers firm, right this moment introduced that it has signed a definitive settlement to acquire 4C, one among the largest Salesforce companions in UK, Europe and the Middle East.
Established in 1997 with its headquarters in Mechelen, Belgium, 4C is an unbiased Salesforce Platinum Partner and one among the leading customer-centric consultancies in Europe and the Middle East. 4C has deep capabilities throughout a number of Salesforce clouds together with Gross sales, Advertising and marketing, Subject Companies and specializes in remodeling Quote-to-Money processes with Salesforce’s Configure, Worth, Quote (CPQ) and Billing options. 4C has efficiently delivered over 1500 initiatives, for greater than 500 clients and is one among EMEA’s most licensed Salesforce companions with over 1000 Salesforce certifications.
With over 350 staff based mostly out of native workplaces in London, Paris, Brussels, Copenhagen and Dubai, 4C has a sturdy Salesforce follow in the UK, France, Benelux, the Nordics and the United Arab Emirates areas. This acquisition considerably strengthens Wipro’s place as a leading supplier of Salesforce options in these markets. Wipro has a well-established Salesforce enterprise in the Americas, Japan and Australia which was strengthened with the Appirio acquisition in 2016. 4C might be consolidated as a part of Wipro’s Salesforce follow, which offers market leading options globally round a number of Salesforce clouds and its ecosystem of merchandise.
“We’re excited to have the workforce at 4C be part of us. They bring about in a wealthy mix of deep Salesforce expertise throughout a number of clouds coupled with a workforce of multi-faceted, multilingual consultants with sturdy regional information. This mixture alongside with Wipro’s attain throughout the area and business, will assist us change into a dominant participant in Europe and a chief in Salesforce’s Quote to Money area,” stated Harish Dwarkanhalli, President, Cloud Enterprise Platforms (CEP), Wipro Restricted.
“Wipro shares the identical values as we do. Their international presence, sturdy digital transformation consulting and supply capabilities and vital funding in the European market, offers a superb platform for the development of our staff. We’ll now leverage this chance to take the subsequent leap in constructing corporations for the future for our clients, not simply domestically however throughout EMEA,” stated Johan Van Genechten, Chief Govt Officer, 4C.
Angelique de Vries-Schipperijn, EVP and GM of Northern Europe, Salesforce, stated, “Our companions are at the heart of our development. 4C’s sturdy regional focus and power in multi-cloud implementations and Quote-to-Money (CPQ/CLM), coupled with Wipro’s sturdy consulting power present an unassailable benefit to Salesforce clients in EMEA.” She additional added, “Wipro had beforehand acquired Appirio and now with 4C, it has even additional enhanced its depth and expertise in Salesforce capabilities and assets.”
The acquisition is topic to customary closing circumstances and is predicted to be closed in the quarter ending September 30, 2020.
About 4C
4C helps corporations unlock industrial worth and obtain enterprise transformation by constantly placing the firm’s buyer first. 4C is EMEA’s largest unbiased Salesforce Platinum Partner. It provides unrivalled expertise in best-of-breed advisory and implementation providers centred round Salesforce and its ecosystem. 4C offers thought management by way of a centre of excellence in the domains of Quote-to-Money (CPQ & Billing), Buyer360 (together with MuleSoft, Einstein & Tableau), e-Commerce, Subject Service and the DocuSign Settlement Cloud. 4C is obsessed with consumer success and takes the time to perceive its purchasers’ challenges, forging long-term relationships with them. 4C leverages native related business information and capabilities to ship EMEA and native initiatives throughout a big selection of industries: manufacturing, monetary providers, hi-tech and non-profit, for midsized corporations all the manner up to enterprise companies. Established in 1997, 4C is headquartered in Belgium with workplaces spanning the UK, France, Nordics, the Netherlands and the Middle East.
About Wipro Restricted
Wipro Restricted (NYSE: WIT, BSE: 507685, NSE: WIPRO) is a leading international info know-how, consulting and enterprise course of providers firm. We harness the energy of cognitive computing, hyper-automation, robotics, cloud, analytics and rising applied sciences to assist our purchasers adapt to the digital world and make them profitable. An organization acknowledged globally for its complete portfolio of providers, sturdy dedication to sustainability and good company citizenship, we have now over 180,000 devoted staff serving purchasers throughout six continents. Collectively, we uncover concepts and join the dots to construct a higher and a daring new future.
Ahead-looking and Cautionary Statements
Sure statements in this launch regarding our future development prospects are forward-looking statements, which contain a variety of dangers, and uncertainties that might trigger precise outcomes to differ materially from these in such forward-looking statements. The dangers and uncertainties relating to these statements embrace, however will not be restricted to, dangers and uncertainties relating to fluctuations in our earnings, income and income, our capability to generate and handle development, intense competitors in IT providers, our capability to keep our value benefit, wage will increase in India, our capability to appeal to and retain extremely expert professionals, time and value overruns on fixed-price, fixed-time body contracts, consumer focus, restrictions on immigration, our capability to handle our worldwide operations, decreased demand for know-how in our key focus areas, disruptions in telecommunication networks, our capability to efficiently full and combine potential acquisitions, legal responsibility for damages on our service contracts, the success of the corporations in which we make strategic investments, withdrawal of fiscal governmental incentives, political instability, struggle, authorized restrictions on elevating capital or buying corporations exterior India, unauthorized use of our mental property, and basic financial circumstances affecting our enterprise and business. Further dangers that might have an effect on our future working outcomes are extra totally described in our filings with the United States Securities and Alternate Fee. These filings can be found at www.sec.gov. We might, from time to time, make further written and oral forward-looking statements, together with statements contained in the firm’s filings with the Securities and Alternate Fee and our experiences to shareholders. We don’t undertake to replace any forward-looking assertion that could be created from time to time by us or on our behalf.
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