Contract management software is an electronic solution that helps streamline and automate the contract management process. HR, legal, and procurement teams are the departments that use it the most frequently because they deal directly with creating, tracking, and signing contracts. Companies of all sizes and industries can benefit from using contract management software.
Some benefits of contract management software include:
- Improved contracting efficiency
- Better supply chain visibility and management of obligations
- Enhanced contract compliance
- Reduced exposure to risk