The oil and gas industry comprises a vast, complex network of operators, suppliers, processors, refiners, and retailers.
The oil and gas industry is often volatile and unpredictable due to its continual boom and bust cycles, a heavy reliance on working capital, and the changing demands of various international and domestic legislation, in addition to contractual demands in constant flux. In this environment, an opportunity to maximize profitability and improve back-office processes is contract management, where the industry has unique and demanding needs, including a high level of compliance monitoring and seamless integration into a company’s complete Source-to-Settle (S2S) process. Automated Contract Lifecycle Management (CLM) streamlines the full S2S lifecycle, helping companies maintain control over unnecessary spend, mitigate contract risk, and reduce processing costs. This whitepaper looks at current market trends in contract management and provides a high-level overview of leading CLM software solution features and services that are best suited for the oil and gas industry.
Research Senior Manager, Levvel
Research Content Specialist
Major Bottoms Jr.
Senior Research Consultant
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Advanced Contract Lifecycle Management Software for the Energy Sector
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