Legal Contract Workflow Process

Context:
- It can (typically) be a part of a Contract Management Process.
- It can (often) be supported by a Contract Workflow Management System.
- It can (often) be summarized by a Contract Workflow Process Report.
- It can (often) be represented by a Contract Workflow Process Model.
- It can (often) reference a Contract Playbook.
- It can range from being a 1st-Party Paper CLM Workflow to being a 3rd-Party Paper CLM Workflow.
- It can range from being Electronic Contract Workflow Process (of electronic contracts) to being Physical Contract Workflow Process (of contract documents).
- It can include:
  - Contract Template Process (for contract templates) - Simplifying and managing template libraries
  - Contract Drafting - Assembling contracts from templates/clauses using rules
  - Contract Review - Enforcing commercial terms through workflows
  - Contract Approval Process (for contract approval) - Automating approval workflows
  - Contract Execution Process (for contract execution) - Digitizing and mobilizing the signing process
  - Contract Performance Process (for contract performance) - Gaining insights into cycle times, risks, etc.
  - Contract Expiry Process (for contract expiry) - Proactive notifications for renewals
  - ...
Example(s):
Counter-Example(s):
- Invoice Workflow Management.
See: Contract Management Software, Contract Law, Contract Lifecycle Management (CLM).

References

(Wikipedia, 2023) ⇒ https://en.wikipedia.org/wiki/Contract_lifecycle_management Retrieved:2023-7-20.
- Contract lifecycle management (CLM) is the proactive, methodical management of a contract from initiation through award, compliance and renewal. Implementing CLM can lead to significant improvements in cost savings and efficiency. Understanding and automating CLM can also limit organizational liability and increase compliance with legal requirements.

(Hirvonen-Ere, 2023) ⇒ S Hirvonen-Ere. (2023). "Contract Lifecycle Management as a Catalyst for Digitalization in the European Union." In: Digital Development of the European Union: An. Springer.
- QUOTE: “In view of the above agenda, this chapter examines Contract Lifecycle Management artificial… Could enhanced utilization of Contract Lifecycle Management approach catalyst…”
- NOTE: It examines the potential impact of Contract Lifecycle Management on the digitalization process in the European Union.

(Algarni, 2021) ⇒ MA Algarni. (2021). "Contract Lifecycle Management: Processes and Benefits." In: Innovative and Agile Contracting for Digital. igi-global.com.
- QUOTE: “An automated, digital contract lifecycle management (CLM) can reduce the administrative burden on employees and allows legal, financial, sales, and other professionals to make…”
- NOTE: It explores the benefits and processes of Contract Lifecycle Management, highlighting its potential to reduce administrative burdens.

(Nguyen, 2013) ⇒ PHM Nguyen. (2013). "Contract Lifecycle Management on the sell-side: a case study in upstream Oil and Gas industry." In: Not Provided. theseus.fi.
- QUOTE: “Saxena (2008, 12) presented a comprehensive definition to the term Enterprise Contract Management (ECM), which in this thesis referred to as Contract Lifecycle Management (CLM)…”
- NOTE: It presents a case study of Contract Lifecycle Management in the upstream Oil and Gas industry, offering a comprehensive definition of the term.

(Hvitved, 2010) ⇒ T Hvitved. (2010). "A survey of formal languages for contracts." In: Formal Languages and Analysis of Contract-Oriented. core.ac.uk.
- QUOTE: “Activates that are collectively referred to as contract lifecycle management (CLM). We present a… Group [16, 17] suggest that contract lifecycle management (CLM) will be a critical key to…”
- NOTE: It presents a survey of formal languages for contracts and emphasizes the importance of Contract Lifecycle Management.

(Gupta et al., 2008) ⇒ R Gupta, A Karayil, and R Rajendran. (2008). "Contract Lifecycle Management." In: The DNA of Procurement. schradersworld.com.
- QUOTE: “Organizations are facing challenges in contract management, as poor contract management is resulting in significant lost savings. Contract management is an integral part of World…”
- NOTE: It highlights the challenges faced by organizations in contract management and emphasizes the importance of Contract Lifecycle Management.