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When most of us hear the word “lifecycle,” we normally assume they are talking about the Software Development Lifecycle. Today, we are going to vary that concept and discuss the Contract Lifecycle and its management. It has been recognized as a part of systems management, so it has developed its own abbreviation: Contract Lifecycle Management, or CLM.
Our guest is Ryan Donley from Icertis. He highlights the shift from traditional methods like Excel spreadsheets to modern digital platforms.
Much like software, the CLM can be divided into pre-award, post-award, compliance, and closeout areas. Every agency oversees this sequence in a unique manner.
Ryan Donley points out that some organizations still use Excel spreadsheets for this task. He recommends that people realize that antiquated processes can limit your ability to have accurate information and can cause reporting to be delayed.
Further, when a system is automated, coordination between departments is accelerated, and issues like compliance can be acted upon quickly.
Icertis operates on a single-tenant GCC high cloud with Microsoft, ensuring security and compliance.
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