What is Contract Management? Process, Benefits and Best Practices
Not every legal fire starts with a lawsuit, some begin with a missed contract clause, an expired NDA, or a forgotten renewal buried in someone's inbox. For legal teams managing high-stakes relationships, even a small contract slip can snowball into compliance risks, billing errors, or lost revenue. That's why contract management is no longer just a back-office task. It's a front-line strategy in the legal field . Whether you're navigating vendor contracts, client agreements, or internal approvals, the right process can be the difference between control and chaos. What is Contract Management? Contract management is the process of handling contracts from draft to signature, renewal, and even termination. It includes everything from negotiation and compliance checks to deadlines, version control, and reporting. For legal teams in healthcare, technology, insurance, and manufacturing, this isn't just admin work, it's risk mitigation, revenue protection, and regul...