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In contract lifecycle management, following compliance policies is critical to managing risk and maintaining accuracy in your contract lifecycle management processes. Today’s technological advancements present a new set of challenges to contract management compared to traditional management methods. Contract management is a meticulous process comprised of several stages that rely on the actions of multiple people or parties.
Contract management software is typically equipped with a contract template library and a clause library. In this blog, we discuss the many purposes of a clause library and how this incredible tool can boost efficiency and productivity in contract management.