Contract Lifecycle Management

What is Contract Lifecycle Management?

Contract lifecycle management (CLM) products provide a suite of applications that handle all or many of the processes involved in end-to-end contract management, from contract generation, drafting and approval workflows, to contract database management, to post-execution contract review, analysis and performance monitoring.

The purpose of CLM software is to manage contracts from offer and acceptance to maintenance and renewal or expiration. The software handles contracts as agreements between two or more parties that create legal obligations enforceable at law and bring a risk of non-compliance with terms and conditions.

Product Finder
Press

Top Products in Contract Lifecycle Management

CobbleStone Contract Insight Profile Image
CobbleStone Contract Insight
LawSites
Despite All the Hype Over CLM Software, Most Companies Don’t Use It to Manage their Contracts, Survey Finds
One of the most talked-about legal technologies of the last few years is contract lifecycle management software. But a survey released today finds that the majority of companies do not use CLM software at all, and of those that do have a dedicated CLM system, most use it only on a limited basis. Instead of...
Bob Ambrogi
3/5/2024
Legal IT Insider
Software giant Epicor selects Agiloft’s CLM platform
Global enterprise software provider Epicor has selected US-headquartered contract lifecycle management vendor Agiloft to help digitally transform its contract-driven processes globally. We’re told that Agiloft’s platform will be closely integrated [...] The post Software giant Epicor selects Agiloft’s CLM platform appeared first on Legal IT Insider.
Caroline Hill - Editor-in-Chief
1/23/2024
Law.com's Legaltech News
CLM Provider Evisort Launches Document X-Ray, a Gen AI Custom Model Builder
Evisort’s Document X-Ray turns users’ natural language questions about their contracts into custom, artificial intelligence models that can automatically populate data fields for any agreements.
Law.com's Legal Tech News
1/23/2024
Legal IT Insider
Exclusive: Panoram launches contract lifecycle management application in M365 
Panoram, the enterprise legal software solutions company founded by former Neota Logic managing directors Rick Seabrook and Greg Wildisen and Epiq Systems’ president Chris Olofson, has launched its own contract ... Exclusive: Panoram launches contract lifecycle management application in M365  Read More » The post Exclusive: Panoram launches contract lifecycle management application in M365  appeared...
Caroline Hill - Editor-in-Chief
1/23/2024
Legal IT Insider
Guest post: The five reasons CLM implementations fail, and how to avoid them
By Simon McCarthy, vice president of enterprise transformation at ContractPodAi Streamlining processes, ensuring compliance, and driving operational efficiencies are becoming increasingly important for organisations, which gives some reasoning as to ... Guest post: The five reasons CLM implementations fail, and how to avoid them Read More » The post Guest post: The five reasons CLM...
Caroline Hill - Editor-in-Chief
1/8/2024
LawSites
On LawNext – The Founders of Two Legal Tech Startups: Nicole Clark of Trellis and Kevin Walker and Bryan Davis of Centari
Today on LawNext, we feature two brief, back-to-back interviews with the founders of two separate legal tech startups, both recorded live during the inaugural Knowledge Management & Innovation for Legal Conference held recently in New York City.  First up is Nicole Clark, cofounder and CEO of Trellis, an AI-powered state court research and analytics platform....
Bob Ambrogi
1/3/2024
Law.com's Legaltech News
Many CLM Providers Claim to Be End-To-End. Only Few Actually Are
The 2023 InnoLaw CLM Market Study from the InnoLaw Group includes an index of a hundred CLM vendors for in-house counsel—and only ten of the providers featured were true end-to-end systems.
Law.com's Legal Tech News
12/11/2023
Law.com's Legaltech News
Onit Launches Generative AI-Powered Contract Management Tool 'Catalyst for Contracts'
The contract solution comes with a chat feature designed to let users have conversations with their contracts and ask questions about clauses, draft language or find inconsistent terms, among other use cases.
Law.com's Legal Tech News
11/9/2023
Law.com's Legaltech News
CLM Provider Evisort Announces Custom Large Language Model Built Specifically for Contracts
While Evisort still plans on leveraging third-party large language models like OpenAI’s GPT-4 for appropriate use cases, the company will turn to its bespoke LLM to enhance control, security and accuracy.
Law.com's Legal Tech News
10/10/2023
Law.com's Legaltech News
CLM Provider ContractPodAi Grows Generative AI Offerings for Noncontract Teams
Contract life-cycle management (CLM) provider ContractPodAi added five new generative AI powered tools for non-contract asks into its Leah Legal Copilot offering, including Leah Discovery.
Law.com's Legal Tech News
10/4/2023
LawSites
Agiloft’s New ‘AI Trainer’ Is Designed To Empower Non-Technical Users To Create Custom AI Models
One of the challenges of using artificial intelligence software for contract review is training the AI to conform to a company’s unique preferences regarding clauses and key terms. A new product from the contract lifecycle management company Agiloft aims to help companies overcome that challenge by enabling non-technical legal and business professionals to train its...
Bob Ambrogi
8/16/2023
Law.com's Legaltech News
Agiloft Launches AI Trainer, Allowing Legal Teams to Customize AI Models for Contract Analysis
Agiloft seeks to empower legal teams with no IT or coding experience to customize their own artificial intelligence models for a more bespoke approach to contract review and analysis.
Law.com's Legal Tech News
8/15/2023
Legal IT Insider
Agiloft launches AI Trainer to deliver “fully individualised AI contract analysis”
Legal IT Insider speaks to Agiloft’s chief product officer Andy Wishart about the new release Contract lifecycle management vendor Agiloft today (15 August) announced the release of AI Trainer, which ... Agiloft launches AI Trainer to deliver “fully individualised AI contract analysis” Read More » The post Agiloft launches AI Trainer to deliver “fully individualised...
Caroline Hill - Editor-in-Chief
8/15/2023
Law.com's Legaltech News
How Vendors and Clients Can Bridge the Divide Over How AI Applies to CLM
Training AI is an aspect of implementation that vendors need to discuss more with their prospects during sales calls—and one that prospects must educate themselves better on to make more informed CLM purchase decisions.
Law.com's Legal Tech News
6/20/2023
Above the Law Tech News
What Dating Tech Can Teach Us About Contract Lifecycle Management
When should you swipe right on a new CLM? The post What Dating Tech Can Teach Us About Contract Lifecycle Management appeared first on Above the Law.
Lucy Bassli and Lara Trope
6/16/2023
Law.com's Legaltech News
Generative AI Is Likely to Change the CLM Market. But How, Exactly?
Generative AI tools’ coding capabilities may lead to further proliferation of CLM startups. But some argue that, with a dearth of funding, many could become fodder for a significant consolidation wave in the market.
Law.com's Legal Tech News
6/10/2023
Legal IT Insider
Agiloft appoints new chief marketing officer 
California-headquartered contract lifecycle management vendor Agiloft today (25 May) announced the appointment of Nicole Milstead as its new chief marketing officer.   Milstead was previously CMO of ERP software provider FinancialForce, ... Agiloft appoints new chief marketing officer  Read More » The post Agiloft appoints new chief marketing officer  appeared first on Legal IT Insider.
Caroline Hill - Editor-in-Chief
5/25/2023
Law.com's Legaltech News
CLM Provider Evisort Announces Generative AI Integration, Partners With ServiceNow
After joining the lineup of CLM companies leveraging generative AI solutions, Evisort also announced that it would be partnering with ServiceNow to offer its contracting capabilities to the organization’s customer base.
Law.com's Legal Tech News
5/17/2023
LawSites
Roundup Of Legal Tech News from CLOC Institute: with News From Agiloft, Casepoint, ContractPodAI, Evisort, LinkSquares, LiquidText, Ontra, PERSUIT
The CLOC Global Institute, the conference of legal operations professionals now underway now in Las Vegas, has become a leading venue for legal technology companies to announce product news — particularly when that news relates to products that serve corporate legal departments and legal ops. This year has brought a slew of announcements of new...
Bob Ambrogi
5/17/2023
Legal IT Insider
Agiloft and Mitratech announce CLM-ELM integration
Contract lifecycle management vendor Agiloft this week announced a new partnership with global legal, compliance, and HR software provider Mitratech. The partnership aims to simplify the increasingly complex tech stack ... Agiloft and Mitratech announce CLM-ELM integration Read More » The post Agiloft and Mitratech announce CLM-ELM integration appeared first on Legal IT Insider.
Caroline Hill - Editor-in-Chief
5/17/2023
Law.com's Legaltech News
LinkSquares Launches ELM Platform in First Offering Beyond CLM
LinkSquares Prioritize, a tool designed specifically for legal task management and intake, will join the company’s existing CLM offerings in LinkSquares Cloud, an ELM platform that combines legal task management and contract lifecycle management in one place.
Law.com's Legal Tech News
5/16/2023
Law.com's Legaltech News
CLM Provider Icertis Launches ExploreAI, a Generative AI Contract Intelligence Tool
Via a chat interface, ExploreAI allows users to extract insights from their contract data, summarize and translate contracts into different languages, and monitor contracts for certain obligations, among other tasks.
Law.com's Legal Tech News
5/12/2023
LawSites
Aiming to Simplify Contract Drafting, SpotDraft Partners with Microsoft to Integrate Word within its CLM Platform
Two months after raising $26 million in Series A funding, SpotDraft, a cloud-based contract lifecycle management platform for in-house legal teams, is today launching a deep integration with Microsoft Word that it says will simplify the contract drafting and review process for businesses of all sizes. Developed in partnership with Microsoft, the integration makes Microsoft...
Bob Ambrogi
5/10/2023
LawSites
As It Opens Commercial Availability in the U.S., LegalOn Releases GPT-Powered Contract-Editing Tool ‘AI Revise’
Last December, LegalOn, one of Japan’s largest providers of AI contract review technology to corporations and law firms, announced its expansion into the U.S. market, offering limited early access to its product to select users and organizations.  Today, LegalOn is making its platform commercially available to all customers in the U.S., and as it does,...
Bob Ambrogi
4/24/2023
Law.com's Legaltech News
Tokyo-Based Contract Review Startup Launches in US, Unveils GPT-4 Powered Contract Editing Tool
LegalOn Technologies took advantage of its U.S. release to announce new capabilities around its collaboration, search and editing features.
Law.com's Legal Tech News
4/24/2023
Law.com's Legaltech News
Contract Lifecycle Management, Vendor: LinkSquares
“Legal innovation means delivering accurate results faster through new technology that surfaces and centralizes vital business insights for better visibility and collaboration,” says Jessica Bicknell, Vice President of Customer Success at LinkSquares.
Law.com's Legal Tech News
4/21/2023
Legal IT Insider
Contract management: Lexion raises $20m Series B
Seattle-headquartered contract management vendor Lexion has raised a $20m Series B funding round led by Point72 Ventures, with participation from Citi Ventures, and existing investors Khosla Ventures, Madrona Venture Group, ... Contract management: Lexion raises $20m Series B Read More » The post Contract management: Lexion raises $20m Series B appeared first on Legal IT...
Caroline Hill - Editor-in-Chief
4/19/2023
LawSites
AI Contract Management Platform Lexion Raises $20M Series B to Further Develop Its Technology
Lexion, an AI-powered contract management system for mid-market corporations that emerged out of the Allen Institute for AI, the AI research institute created by Microsoft cofounder Paul Allen, said today that it has raised $20 million in Series B funding, bringing its total amount raised to more than $35 million. This latest funding round was led...
Bob Ambrogi
4/19/2023