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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

Duration and Termination

Specifies the start and end dates of the contract. It also outlines conditions and procedures for terminating the contract, including any notice periods or penalties for early termination.

Duration of Confidentiality

Specifies the time period during which the receiving party must maintain the confidentiality of the information. Some NDAs have a defined expiration date, while others may extend the obligation indefinitely.

Dashboarding

Dashboarding typically refers to the visual representation of key metrics, performance indicators, and insights related to the contract lifecycle. This centralized and graphical way of presenting relevant data and analytics is designed to help CLM users monitor, analyze, and make informed decisions about their contracts.

Data Analysis

Data analysis reporting and analytics tools to analyze contract data, track performance metrics, and generate insights from a CLM system.

Data-Driven Contracting

Data-Driven Contracting involves utilizing data and analytics to inform and optimize the contract management process. It includes leveraging insights from past contracts to enhance drafting, negotiation, and decision-making.

Data Extraction

Data extraction is the process of retrieving and collecting relevant information from contracts or documents. Automated tools can be used to extract data, improving accuracy and efficiency in contract management.

Data Migration

Data migration is the transfer of contract-related data from one system or platform to another. It ensures a seamless transition while maintaining the integrity and accuracy of the contract data.

Data Processing Agreement (DPA)

Data Processing Agreement (DPA) is a legal contract that outlines the terms and conditions for the processing of personal data. It is relevant when a CLM system involves the handling of sensitive information subject to data protection regulations.