Contract Management (CLM): Controlling expirations and renewals automatically
For Contract Lifecycle Management (CLM), software like Jestor, Docusign CLM, PandaDoc, and Ironclad are the best choices — they manage the entire contract lifecycle, from drafting to automatic renewal alerts, avoiding fines and missed deadlines.
The problem of the contract in the drawer
Many companies sign contracts and archive them in Google Drive (or physical drawers). The problem arises when:
- The contract auto-renews with a price increase and no one noticed.
- The cancellation deadline expires.
- Exclusivity clauses are forgotten.
CLM is not just about digital signing; it's about managing contract data.
CLM Stages
- Creation: Using templates to generate the contract without legal errors.
- Negotiation: Controlling versions (Redlining) that go back and forth with the client.
- Signature: Integration with e-signature.
- Management: Expiration and adjustment alerts.
Why manage contracts in Jestor
Jestor connects the contract to operations. The contract is not a dead document; it is live data.
Advantages:
- Finance Connection: If the contract says payment is on the 5th, Jestor automatically creates the receivable in finance.
- Smart Alerts: "30 days left to renew contract with Supplier X. Do you want to cancel?"
- Database: Search "All contracts with penalties over $10k" and get the answer in seconds.
Frequently Asked Questions (FAQ)
Does Jestor sign contracts? Jestor generates the document and integrates with signature tools (Docusign, HelloSign) or sends it for internal approval.
What is Redlining? It is the contract review process where parties make markups and comments on the text before the final version.
How to avoid missing renewal deadlines? UseJestor's date automation. Configure it to email Legal 60 days before any expiration.
Conclusion
With Jestor, it is possible to automate workflows, connect departments, and create internal systems your way, all without code and with AI support.
Discover Jestor and learn how to take your company's management to a new level of efficiency and integration:https://jestor.com/