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Non-Disclosure Agreements are contracts that establish confidentiality between parties. They prevent the disclosure of certain information and are commonly used when sharing sensitive data during business discussions. CLM platforms streamline the management of NDAs by providing a centralized repository for storing NDA templates, tracking the negotiation and approval process, and ensuring compliance with the terms of the agreement. This helps organizations efficiently handle the creation and administration of NDAs while maintaining control over their confidential information.
With a Word plugin for CLM, users can create, edit, and manage contracts seamlessly without leaving the Word application. This integration includes features such as template management, clause libraries, version control, and direct access to the CLM system’s repository of contracts. It aims to improve user efficiency by providing a unified experience within the word
Workflow automation in CLM brings several benefits, including improved efficiency, reduced errors, better collaboration among team members, and increased visibility into the status of contracts. It also helps organizations enforce compliance with internal policies and regulatory requirements throughout the entire contract lifecycle.
Workflows refer to predefined, systematic processes that guide and automate the flow of tasks and actions associated with the lifecycle of a contract. These workflows help streamline and standardize the contract management process, ensuring that each contract undergoes a consistent series of steps from initiation to completion.
