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Gatekeeper Contract and Vendor Management Glossary

Search common contracting language and take a deeper dive to discover what each means

Glossary > C

Contract Administration

The systematic planning for and development of a new Contract. Often used interchangeably with CLM, however Contract Administration is a separate set of activities. 

Those responsible for Contract Administration vs Contract Management will be responsible for: 

  • Setting up the contract
  • Gathering information about suppliers and stakeholders
  • Routing the contract for approval
  • Extracting all key information
  • Keeping all information up-to-date
  • Granting access to the contract and certain information

Contract Management Software automates the manual work associated with contract administration, giving teams back their valuable time while improving accuracy.