What is the difference between document management and contract management?

This is a good question that we hear from prospects all the time. The difference between document management and a true contract management solution really comes down to having a data-centric approach to managing your contracts vs. a document-centric one. Document management systems have a single folder structure (i.e. document-centric) whereas a true contract lifecycle management system uses a relational structure that’s based on the foundational information (i.e. data-centric) describing your contracts and documents. This may sound trivial but it’s actually a critical factor when it comes to mitigating contract risk while enabling automation and a more effective CLM strategy. Here is a link to a good blog on the topic if you want to learn more - https://www.contractlogix.com/contract-management/difference-between-contract-and-document-management-software/