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CLM Glossary

From contract initiation to execution, this guide is crafted to assist contract professionals in grasping the nuances of contract lifecycle management.

All A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

AI Model

An AI (Artificial Intelligence) model refers to a computational model that employs machine learning algorithms to analyze and extract insights from contract data. AI models can assist in contract review, risk assessment, and decision-making processes.

AI Model Trainer

An AI model trainer is the individual responsible for overseeing the training and optimization of machine learning models used in contract management. It involves feeding the model with relevant data to enhance its accuracy and effectiveness in understanding and processing contracts.

Alerts and Notifications

Automated reminders and notifications to keep stakeholders informed of important contract milestones, deadlines, and changes.

ALM

ALM, the host of LegalWeek, is delivers leading data & intelligence, information, insight, events and audiences across the Legal and Business & Finance industries. ALM helps set the agenda for customers to get and stay in the know about the biggest developments and most impactful trends in the industry.

Alternate and Private CLM

Alternate and private CLM customized or specialized Contract Lifecycle Management system tailored to the specific needs and preferences of an organization. It may include features and functionalities designed exclusively for the organization's unique requirements.

Amendments

Amendments refer to changes or modifications made to the original contract terms after it has been executed. These changes may involve adjustments to pricing, delivery schedules, or other contractual elements.

Analytics

Analytics is the use of data analysis tools to gain insights into contract performance, trends, and other relevant metrics. It helps organizations make informed decisions, optimize processes, and enhance overall contract management efficiency.

Approval Workflows

Approval workflows are predefined processes that dictate the sequential steps and individuals involved in reviewing and approving contracts. It ensures a systematic and organized approach to obtaining necessary approvals throughout the contract lifecycle