Contract life cycle management "is the process of systematically and efficiently managing contract creation, execution and analysis for maximizing operational and financial performance and minimizing risk".
Organizations in both the public and private sectors are facing increasing pressure to reduce costs and improve financial and operational performance. New regulatory requirements, globalization, increases in contract volumes and complexity have resulted in an increasing recognition of the importance and benefits of effective contract management.
Moreover, with the growth in legal cases, even small sized firms are having a lot of documents and are dealing with a large number of contractors, customers, property, and more. Signing the contract is just the beginning which is followed by maintaining the relationships with clients.
Our in-house team manages contracts efficiently and effectively using client specific contract management tools. Contracts are managed to help the contracting parties to ensure smooth work flow, by informing expiry of contracts to enable the parties to take appropriate actions, by periodical renewal of contracts, and compliance requirements.
Our team of experienced attorneys performs abstraction of complex contracts, providing our clients an ongoing contract abstraction and database management.
We work on templates created by our expert team and/or provided by the client, catering to the client's requirements.