CLG (Contract Lifecycle Management)

Contract Lifecycle Management (CLG) refers to the process of managing contracts from their creation to their expiration or renewal. This involves various stages, including drafting, negotiation, approval, execution, and ongoing management. Effective CLG helps organizations ensure compliance with terms, track important dates, and improve overall efficiency. By systematically handling contracts, businesses can minimize risks, reduce costs, and enhance relationships with partners and clients. In essence, CLG streamlines how organizations work with agreements, making it easier to keep track of commitments and obligations throughout their entire lifespan.