The Seven Key Phases of Contract Performance Management (CPM)
Contract Performance Management (CPM) elevates contract management beyond the signing stage, transforming your contracts into strategic business assets. Unlike traditional Contract Lifecycle Management (CLM) systems that focus primarily on getting contracts to the finish line, CPM optimizes contracts after they’re signed – ensuring teams meet obligations, mitigate risks, and fully capitalize on opportunities.
Drawing from our research on industry standards, we’ve developed a seven-phase post-signature process emphasizing proactive contract performance management. PostSig is purpose-built for Contract Performance Management. Designed to handle the complexities that arise post-signature, PostSig empowers data-driven teams to extract maximum value from their contracts.
Done right, this approach helps you unlock the full potential of your agreements, converting them from static documents to strategic business assets – giving your business the additional edge it needs to succeed.
1
Activation Phase
A Strong Start
In the Activation Phase, teams set the foundation for effective contract management by ingesting, assigning, organizing, and securely storing contracts. This approach ensures everything is in place to manage contracts successfully from day one.
The PostSig Advantage
AI-Driven Ingestion
PostSig automates contract data ingestion, eliminates manual entry, and ensures contract details are instantly accessible.
Secure Access & Sharability
PostSig safely stores and details ownership records for transparency in a centralized system to provide quick and secure access whenever needed.
2
Active Management
Keep Contracts on Track
Once activated, contracts need continuous monitoring to stay compliant and meet performance goals. The Active Management Phase ensures teams track key milestones and obligations effectively.
The PostSig Advantage
Milestone Alerts
PostSig proactively alerts teams to key dates and obligations, ensuring nothing slips through the cracks.
Plain Language Translation
With PostSig, complex legal language is translated into simple terms, empowering teams without legal expertise to manage contracts confidently and efficiently.
3
Reporting
Turn Data into Actionable Insights
In the Reporting Phase, you gain insights into contract performance, expenses, and vendor compliance—all in real-time.
The PostSig Advantage
Real-Time, Automated Reporting
PostSig takes the manual work out of reporting, providing up-to-date data on performance, compliance, and
Budget Forecasting
PostSig allows teams to review current budgets, forecast future budgets, and provides actionable recommendations.
4
Change Management
Adapt as Contracts Evolve
Contracts evolve over time, requiring changes and amendments. The Change Management Phase ensures that these updates are properly documented and managed.
The PostSig Advantage
Automated Document Nesting & Seamless Transitions
PostSig automatically nests contract amendments within the contract hierarchy, making it easy to track and manage addendums and changes. It ensures that updates are implemented smoothly without disrupting operations.
5
Renewal
Make the Right Call
The Renewal Phase is about evaluating contract performance and determining whether to renew, renegotiate, or terminate.
The PostSig Advantage
Proactive Notifications
PostSig provides ample notice of critical dates and upcoming renewals, giving teams time to plan and negotiate the best terms.
Data-Driven Decisions
PostSig delivers insights to guide renewal decisions, helping teams negotiate favorable terms based on hard data.
6
Termination
Ensure a Smooth Exit
At the end of a contract, proper management of the termination process is key to fulfilling obligations and ensuring a clean exit.
The PostSig Advantage
Termination Tracking
PostSig tracks important termination clauses and deadlines, ensuring that teams handle the end of contracts smoothly and compliantly.
7
Archival
Preserve Your Contract Records
The final phase involves archiving contracts and associated documents for future reference or audits.
The PostSig Advantage
Secure Archiving
PostSig securely stores contracts and all relevant documentation, ensuring quick access for audits, legal matters, or historical review.