While often used interchangeably, Contract Management and Contract Lifecycle Management (CLM) are slightly different. Contract Management usually refers to overseeing contracts after they’ve been signed like tracking compliance, obligations, and renewals. On the other hand, CLM covers the full contract journey from initial request and drafting to negotiation, approval, execution, and renewal or termination. CLM provides a more structured, automated, and proactive approach to managing contracts at every stage.
