The 7 key phases of the contract lifecycle (and how AI can optimize each one)
Efficient contract management is no longer a “nice to have”, it’s a competitive advantage. For organizations aiming to reduce legal risks, strengthen business relationships, and maintain compliance, managing the contract lifecycle is crucial.
Each stage of a contract, from drafting to renewal, requires collaboration, oversight, and timely action. When done manually, it’s time-consuming and error-prone. That’s why more companies are turning to AI-powered contract management software like Contractify to streamline and automate their contract processes.
Here’s a breakdown of the 7 essential contract lifecycle stages, and how technology transforms them into a well-oiled machine.
