Contract Lifecycle Management (CLM) refers to the systematic process of handling contracts throughout their entire lifecycle, from creation and negotiation to execution, management, and eventual expiration or renewal. CLM involves various stages, including contract drafting, review, approval, signing, monitoring, and compliance. It aims to streamline and optimize all contract-related activities, ensuring that contracts are created, managed, and enforced efficiently while mitigating risks and maximizing value. CLM software solutions, like Flowtrics Formflow and Contract Management Software, automate and facilitate these processes, enhancing collaboration, reducing manual errors, improving compliance, and providing better visibility into contractual obligations and opportunities.