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Global Contract Life-Cycle Management Market to grow at a CAGR of 16.35% by 2019 Technology Articles | July 29, 2016

MarketResearchReports.Biz has announced addition of new report “Global Contract Life-Cycle Management Market 2015-2019” to its database.



About contract life cycle management (CLM)


Traditionally, contracts were documented on paper and presented for any revisions or amendments till the final version was prepared. Lawyers used to review the contracts manually, which was a time consuming and error prone process. With evolution in technology Cheap Rasul Douglas Jersey , companies started managing contracts via the electronic media. However, the electronic format of contracts have not enhanced the visibility of the contracts, resulting in poor management of those contracts. With the adoption of CLM software, companies enhanced the visibility of the contracts and, hence, were able to provide timely information to make informed decisions.


CLM software allows companies to streamline the contracting process by automating the drafting of contracts. It also helps negotiate Cheap Alshon Jeffery Jersey , track, manage, and obtain optimal value from buy-side as well as sell-side contracts. Demand for CLM software comes from sectors involving complex contracts, such as the financial services, healthcare, manufacturing Cheap Jordan Hicks Jersey , and public sectors. Large enterprises as well as small enterprises in these sectors are adopting CLM software to manage their contracts.


Technavio's analysts forecast the global CLM market to grow at a CAGR of 16.35% over the period 2015-2019.


Covered in this report


The global CLM market is segmented on the basis of products and geography.