Glossary / Also known as

Contract lifecycle management

Another name for Contract Management.

Other names

What does contract lifecycle management mean?

Contract lifecycle management is another name for Contract Management. Contract management is the process of creating, executing, monitoring, and renewing vendor agreements to ensure compliance with agreed terms, pricing, and regulatory requirements.

The two names mean the same thing. You will see "contract lifecycle management" in some ledgers, reports and contracts and "Contract Management" in others. The full entry covers how it works, with examples.

Read the full definition of Contract Management

Topics

Documents and contracts

From the glossary

Related terms.

Documents and contracts Contract Management Contract management is the process of creating, executing, monitoring, and renewing vendor agreements to ensure compliance with agreed terms, pricing, and regulatory requirements. Also called contract lifecycle management, CLM Accounts payable Accounts Payable (AP) Money a business owes to its suppliers and vendors for goods or services received but not yet paid for. Also called trade payables, sundry creditors, payables MSME payments MSME (Micro, Small and Medium Enterprises) A government classification for businesses based on investment and turnover that enables access to subsidies, priority lending, and special schemes. Also called micro and small enterprises, Udyam registered enterprise, MSE Due dates and calendars Compliance Calendar A structured schedule of all regulatory filing deadlines and statutory obligations a business must fulfill throughout the year. Also called statutory due date calendar, filing calendar, compliance tracker Invoice processing Invoice Management The end-to-end process of creating, receiving, tracking, approving, and processing invoices for timely payments and accurate financial records. Also called invoice processing, invoice handling, invoice workflow Documents and contracts Alternative Dispute Resolution (ADR) Resolving commercial and civil disputes outside traditional courts through mediation, arbitration, or conciliation. Also called out-of-court dispute resolution

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