LexisNexis’ expansion of its ELM solution offerings fits into its long-term strategy for CounselLink to be a “one-stop shop for legal operations,” Aaron Pierce, vice president of Product Management at CounselLink told Legaltech News.
Building On Its Acquisition of Parley Pro®, LexisNexis® Adds Contract Lifecycle Management to CounselLink®
Building on its acquisition last year of the contract lifecycle management (CLM) platform Parley Pro, LexisNexis is today announcing the integration of Parley Pro’s CLM capabilities to its cloud-based CounselLink enterprise legal management solution for corporate legal departments.
Contract management is among the most critical aspects of project management. It involves creating, negotiating, and administering contracts between two or more parties. Contracts ensure that all project stakeholders know their obligations and responsibilities. This blog post will discuss the stages of contract management, the features of a good contract, and the importance of contracts in project management.
One of the most tedious and high-stakes tasks in any business is managing contracts. In the past 10 years, we’ve seen a proliferation of tech tools that proclaim to make contracting easier, faster, and automated. By 2022, technology was essential for maintaining the visibility of contracts and their progress along the contract lifecycle. Digitization became much more of a need-to-have. However, all the technology in the world will still fail if you don’t have a solid workflow and adoption plan in place first.
One of the trends making its way through the legal industry (and all professional services industries) is the need to get more work done with fewer resources and a smaller budget.
An audit is undoubtedly a great way to keep the business under constant check and evaluation, leading to improvements. No matter how strongly you propagate your business’s audit, one of the things that will force you to quit the process is the need to provide a ton of information to the auditors. And it is made easier with contract management solutions.