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.

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Top Products in Contract Lifecycle Management

Law.com's Legaltech News
CLM Provider ContractPodAi Launches AI Legal Assistant Leah, Powered by ‘Team of AI’
The London-based CLM provider’s latest offerings are powered by a combination of AI technologies including OpenAI’s latest GPT model GPT-4, Microsoft Azure, IBM Watson and ContractPodAi’s own proprietary AI.
Law.com's Legal Tech News
3/20/2023
Legal IT Insider
ContractPodAI launches new AI assistant ‘Leah’
US contract lifecycle management vendor ContractPodAi today (20 March) announced the launch of Leah, its new legal assistant based on technology including OpenAI’s chatbot ChatGPT. New functionality includes: Leah One ... ContractPodAI launches new AI assistant ‘Leah’ Read More » The post ContractPodAI launches new AI assistant ‘Leah’ appeared first on Legal IT Insider.
Caroline Hill - Editor-in-Chief
3/20/2023
Law.com's Legaltech News
Selling the Dream: How CLM Strengthens Business Operations
Legal technology has gained a secure foothold in the legal industry and has now reached a critical tipping point. Lawyers can no longer be distracted
Law.com's Legal Tech News
3/15/2023
Law.com's Legaltech News
CLM Provider SpotDraft Raises $26 Million in Series A Funding Round
The CLM provider, which has offices in both India and the U.S. will leverage the investment towards product development and expansion in the North American market.
Law.com's Legal Tech News
3/2/2023
Legal IT Insider
QuisLex and ContractPodAi enter tech + services partnership
New York and Hyderabad-headquartered alternative legal services provider QuisLex and contract lifecycle management vendor ContractPodAi have entered a partnership to help customers deliver large-scale CLM implementations. QuisLex supports clients across ... QuisLex and ContractPodAi enter tech + services partnership Read More » The post QuisLex and ContractPodAi enter tech + services partnership appeared first on...
Caroline Hill - Editor-in-Chief
2/28/2023
Dewey B Strategic
Wolters Kluwer Enhances AI Enabled Workflows in Legisway for In-House Counsel
Wolters Kluwer Legal & Regulatory, U.S.   has announced a suite of new and enhanced features in Legisway.  their legal management software for in-house counsel . Legisway is  an AI enabled SaaS solution which offers to steamline corporate workflows. Legisway offers AI-powered contract lifecycle management (CLM) that enables document creation, editing and version control, as well...
Jean O'Grady
2/13/2023
Law.com's Legaltech News
CLM Provider SirionLabs Lays Off 15% of Global Workforce in Pursuit of Profitability
SirionLabs “has to shift its business strategy towards profitability due to the current macroeconomic environment, and this will result in downsizing,” said founder and CEO Ajay Agarwal.
Law.com's Legal Tech News
1/26/2023
Law.com's Legaltech News
Agiloft Releases ConvoAI to Allow Interactive Conversations with Contracts
The feature is available to customers on Agiloft and Microsoft Teams’ interfaces. Agiloft’s chief product officer said the company hopes the tool will ultimately be used by all members of an organization—not just contract professionals.
Law.com's Legal Tech News
1/26/2023
Legal IT Insider
Agiloft introduces ConvoAI to bring natural language search to its CLM system 
Contract lifecycle management vendor Agiloft today (25 January) announces that its customers will now be able to have an “interactive conversation” with their contracts via natural language questions, powered by ... Agiloft introduces ConvoAI to bring natural language search to its CLM system  Read More » The post Agiloft introduces ConvoAI to bring natural language...
Caroline Hill - Editor-in-Chief
1/25/2023
LawSites
Now You Can Have A Conversation with Your Contracts Using Agiloft’s New ConvoAI Chat Feature
Admit it: You’ve always wanted to have a conversation with your contracts. Well, now you can, thanks to ConvoAI, a feature introduced today by Agiloft, the contract lifecycle management company, during its Agiloft Summit 23 conference for users and partners in Las Vegas. The feature lets users interact with contracts in a chat-like interface, asking...
Bob Ambrogi
1/25/2023
Law.com's Legaltech News
GCs Must Reinvent
Four key non-legal areas general counsel can focus on to assist with recessionary pressures, and the tools that can help.
Law.com's Legal Tech News
1/24/2023
Law.com's Legaltech News
CLM Provider Icertis Undergoes Layoffs, With Focus on Sales and Marketing Teams
The layoffs come on the heels of several years of rapid growth for Icertis, which reportedly had around 2,400 employees in late 2022.
Law.com's Legal Tech News
1/23/2023
Law.com's Legaltech News
Legal Tech Rundown: New ILTA Partnership, Everlaw's Evolving Identity, and More
An update on the legal tech market’s past few weeks, from product launches to new tech integrations.
Law.com's Legal Tech News
1/18/2023
Law.com's Legaltech News
6 Ways the CLM Market Evolved in 2022
One of the primary lessons the pandemic taught legal was the necessity for an automated contract management solution, setting the stage for CLM’s roller coaster ride in 2022.
Law.com's Legal Tech News
12/31/2022
Law.com's Legaltech News
Elevate's Prashant Dubey Joins Agiloft, Says 'Digital Transformation 2.0' Is Coming to CLM
Prashant Dubey is joining Agiloft, the no-code CLM company, as its new chief strategy officer and research chair of Agiloft Insights. Looking ahead, Dubey predicts the CLM industry will move toward more self-serve contracting and more strategic responsibilities for general counsel, especially during an economic downturn.
Law.com's Legal Tech News
12/8/2022
Law.com's Legaltech News
At Consilio, Dan Schneider Hopes to Move CLM Market Away From ‘Christmas Tree’ Effect
Dan Schneider, who recently moved from Docusign to Consilio, discusses how the CLM space is evolving amid an uncertain economic climate and growing customers’ frustrations.
Law.com's Legal Tech News
11/22/2022
LawSites
As Companies Rein In Legal Spend, They Are Bullish on Leveraging Legal Tech, Survey Says
Not surprisingly given the economy, a survey of inhouse legal professionals finds that companies are slowing down or freezing hiring, reducing outside counsel spending, and conducting layoffs. To help counter these cuts and reduce their workloads, legal departments are increasingly bullish on leveraging legal technology, the survey finds. The survey by contract management company Lexion...
Bob Ambrogi
11/18/2022
Law.com's Legaltech News
Legal Tech Can Help in Economic Downturn—But Won't Be Spared Budgets Cuts
As businesses prepare for a potential economic downturn, Lexion’s “The Current State of Legal Tech” survey looks at the moves corporate legal professionals plan to make with tightened budgets.
Law.com's Legal Tech News
11/17/2022
3 Geeks and A Law Blog
LinkSquares’ Tim Parilla and Juliette Kopecky: These Aren’t Legal Problems or Tech Problems… These Are Business Problems (TGIR Ep. 180)
Tim Parilla isn’t just the Chief Legal Officer at LinkSquares... he’s also a customer. That unique position of being the leader of the legal department of a company whose mission is to improve the workflow and efficiency of corporate legal departments, creates an exciting environment for Tim and his team. Juliette Kopecky is the Chief...
Greg Lambert and Marlene Gebauer
11/17/2022
Legal IT Insider
Legal IT Latest: Acquisitions for SironLabs, Ontra and Axiom
It’s been quite the week for acquisitions, as SironLabs acquires contract automation platform Zendoc and opens a centre of excellence in Nice, France, while Axiom enters the Australian market with ... Legal IT Latest: Acquisitions for SironLabs, Ontra and Axiom Read More » The post Legal IT Latest: Acquisitions for SironLabs, Ontra and Axiom appeared...
Caroline Hill - Editor-in-Chief
11/8/2022
Law.com's Legaltech News
SirionLabs Acquires Contract Automation Platform Zendoc in Move to Improve User Experience
At a time when CLM tools have been facing some pushback from customers, with its acquisition of Zendoc, SirionLabs aims to focus on enhancing users’ experience.
Law.com's Legal Tech News
11/8/2022
Legal IT Insider
Icertis raises $150m to extend leadership in race to dominate the CLM market
Gartner recently praised Icertis for its ahead of the curve business apps and Microsoft integration but warned of implementation issues, leading it to drop slightly in this year’s Magic Quadrant ... Icertis raises $150m to extend leadership in race to dominate the CLM market Read More » The post Icertis raises $150m to extend leadership...
Caroline Hill - Editor-in-Chief
11/1/2022
LawSites
At Its User Conference, Relativity Unveils New Tools for E-Discovery, Compliance, Data Management and More
At its annual RelativityFest user conference in Chicago today, the e-discovery company Relativity announced several new tools and features for e-discovery, privacy and compliance, data management, translation, and more. The product announcements were made during the conference’s opening keynote presented by Mike Gamson, Relativity’s chief executive officer, and Chris Brown, chief product officer. Gamson said...
Bob Ambrogi
10/27/2022
Law.com's Legaltech News
90% of Information in Contracts Is an Untapped Risk Management Goldmine: Pivoting From Efficiency to Resilience With CLM
Just one-tenth of contract language addresses contractual obligations. The rest is a valuable, overlooked resource that can help your business navigate risk in uncertain times.
Law.com's Legal Tech News
10/21/2022
Law.com's Legaltech News
SirionLabs Taps London Lawyer as First GC
CEO Ajay Agrawal said Evangelos Apostolou will play a critical role at the company “in a time of high growth and transition.”
10/6/2022
Law.com's Legaltech News
4 Ways the CLM Market Is Likely to Change in the Near Future
Whether it be rising prices or growing cyberthreats, CLM providers’ ability to overcome these new challenges will determine the shape of the CLM market going forward.
9/27/2022
Law.com's Legaltech News
As Legal Points to CLM Tools' Shortcomings, Could They Face Their Reckoning?
As more legal professionals find themselves with CLM tools that don’t quite match the pain points they were hoping to solve, some experts suggest that it could lead to more thoughtful and intentional implementations of CLM tools compared to the rush driven by the pandemic.
9/22/2022
Law.com's Legaltech News
CLM Tools: Hackers 'Know Where the Vault Is,' but Is Legal Aware of It?
While the rise in cyberattacks on contract lifecycle management tools is unlikely to deter legal professionals’ adoption, some suggest that it could impact the legal tech market as clients could be reluctant to work with many vendors if it increases their exposure to attacks.
9/21/2022
Law.com's Legaltech News
CLM Prices See the Most Inflation as Vendors Look Beyond Legal
Unless technology budgets within legal increase, more CLM vendors are likely to focus their energies on broader enterprise customers, further hiking prices.
8/31/2022