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Contract management is also called contract lifecycle management. It is the process of planning and managing agreements from start to end with different entities. Contract creation, financial performance, clause negotiation, and analysis of performance are critical activities in the agreement management process. Once the vendor approves the contract and both parties sign it, the agreement comes into effect and is then executed for performance. Once both parties sign a contract, the agreement is executed for performance. In addition, all sizes of businesses can benefit from the contract management software solution.
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