Involves managing the organizations debt, cash flow and receivables/payables.
Contract Lifecycle Management means different thing to different users some think it’s the automation of the request process to eliminate bottlenecks for legal and sales, others think of it as the negotiation, redline and versioning process and many think it’s the post live execution of active contracts; managing financial terms, delivery of product or service, managing obligations and more. The fact is its all of the above. The true definition includes any process that contributes, creates or utilizes contract data, is part of contract lifecycle management.
By Nathan Phillips Follow @nxphil13