CLM (Contract Lifecycle Management) is a category of legaltech solutions that covers the entire contract lifecycle, from creation to archiving. Key stages include: drafting (often from pre-approved templates and clauses), negotiation (with version tracking and redlining), approval (validation workflows), signature (electronic), execution, tracking of obligations and deadlines, renewal or termination, and finally archiving.
The global CLM market is worth around 1.5 billion dollars and is expected to reach 6 billion by 2026, a sign of the widespread adoption of these tools. Companies that roll out a CLM report a 30 to 50% reduction in contract management time. In France, Tomorro (formerly Hyperlex), a leading French legaltech, reports cutting the time spent on contracts by a factor of three thanks to its platform.
CLM fits into a broader ecosystem: it connects to electronic signature tools, ERP and CRM systems, Legal Analytics platforms and generative AI solutions for clause drafting and analysis. Choosing a CLM should factor in interoperability through open APIs, GDPR compliance and ease of adoption by business teams.