Author Bios

Olga V. Mack is Vice President at LexisNexis® and CEO of CounselLink® CLM, a next-gen contract management company that has pioneered digital negotiation technology. An award-winning general counsel and operations professional, Olga embraces legal innovation and has dedicated her career to improving and shaping the future of law. She shares her views in her columns at Above the Law, Forbes, Bloomberg Law, Association of Corporate Counsel (ACC) Docket, and more.
3 Challenges in Contract Obligation Management

3 Challenges in Contract Obligation Management

by | Mar 16, 2023

Are your contract closing statistics overwhelming, but you aren’t sure how to keep track of obligations arising out of them? You’re dealing with contract obligation management issues.

Managing multiple contracts manually is surely hectic. It comes with a lot of challenges. That’s where your organization needs an automatic system that can offer alerts and reminders for pending tasks. Such a mechanism ensures all your contract-related information is stored in a secured repository with user-defined access.

In this article, we’ll highlight the challenges faced by companies in obligation management and the benefits of using contract obligation management software.

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Why Contract Management Template Excel Is a Bad Idea

Why Contract Management Template Excel Is a Bad Idea

by | Mar 10, 2023

Did You Know? Microsoft Excel Is Used by Approximately 70 Million People Worldwide and Is One of the Most Important Consumer Products. But When It Comes To Catering To Various Users’ Needs, the Functionality and Features of Excel May Not Be Enough – Especially When You’re Using Contract Management Template Excel.

Why Is That? Let’s Explore Below in Detail Why Excel Is Not the Best Contract Management Tool for Businesses.

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Turning Contract Data IntoStrategic Action Inspiration

Turning Contract Data Into
Strategic Action Inspiration

by | Mar 9, 2023

Most companies are unaware of the data that the contract management software is generating for them. Within the dashboard is hidden a goldmine for the individuals who know how to read and interpret data.

The use of contractual data in the proper manner can make future processes quicker and smoother. Also, the contract data can reduce your overall cost and build stronger relationships with all the stakeholders.

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Main Steps To Create a Strong Contract Procurement Process

Main Steps To Create a Strong Contract Procurement Process

by | Feb 23, 2023

Do you want to streamline purchasing goods and supplies in your organization? Developing the contract procurement process can surely help.
A robust procurement system can save you from legal issues, help you get the best deals, and establish long-term relationships with your suppliers. Implementing the complete contract procurement strategies requires a multi-step procedure.
In this article, we’ll cover the primary steps involved and the importance of using contract procurement solutions in your organization.

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Managing Retail Contracts Digitally

Managing Retail Contracts Digitally

by | Feb 15, 2023

Apart from the competitiveness of the retail sector, managing the day-to-day operations and handling the deals with all the stakeholders is challenging. Contracting with different stakeholders is one of the aspects.

Handling all the contract requirements manually is unsustainable and unscalable, considering the expanding scope in the retail sector. So, to survive in the industry, businesses have to transform into digital contract management software.

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Post Award Contract Management Best Practices

Post Award Contract Management Best Practices

by | Feb 7, 2023

Are you trying to implement post-award contract management at your organization but aren’t sure of the right way to go about it? You certainly cannot leave the compliance stage disorganized without keeping a formal track of it. But managing multiple activities for organization-wide contracts isn’t easy.

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