After Signing on the Dotted Line: Contract Lifecycle Management Basics

It might not be the sexiest acronym out there but CLM, or contract lifecycle management, is one of the most important aspects of supply management relationships as it overlaps with source-to-contract and P2P cycles. This introductory paper, Contract Lifecycle Management 101 by Jason Busch, founder and managing director at Spend Matters, and Michael Lamoureux, contributing analyst, provides a fundamental approach to CLM for all to read.

An excerpt: “Wikipedia describes CLM as ‘the process of systematically and efficiently managing contract creation, execution and analysis for maximizing operational and financial performance and minimizing risk.’ Others define it as an all-encompassing and all-inclusive process that starts with the identification of a  business need and ends with a post-mortem analysis of contract execution. Under this more extensive definition, it's a 3-phase process…”

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