Contract Management Pro glossary
Learn about the terms and concepts used in Contract Management Pro.
Glossary terms are grouped alphabetically.
A
Approval workflow
A predefined sequence of automated or manual steps that a contract must go through to receive necessary approvals before execution.
audit trail
A record of all changes made to a contract.
C
clause management
The process of creating, storing, and managing standard contract clauses and their variations to ensure consistency and compliance.
clause mapping
Mapping clauses to field groups and expected responses, which helps in automating the contract review process.
clause library
A centralized repository within ServiceNow where standard contract clauses and their approved variations are stored for easy access and consistent usage.
contract analysis
A Now Assist skill used to analyze contract documents for clause deviations, ensuring compliance with standard clauses and identifying potential risks
content controls
Dynamic placeholders within Microsoft Word documents that integrate with ServiceNow for inserting and updating contract content.
contract dashboard
A visual interface that provides an overview of contract statuses, key metrics, and performance indicators.
Contract Lifecycle Management (CLM)
The end-to-end process of managing contracts from initiation through execution, performance monitoring, and renewal or termination.
contract repository
A secure, centralized storage within ServiceNow where all contract documents and related information are stored, providing easy retrieval and management.
contract workspace
A centralized interface within ServiceNow where contract-related activities are tracked and managed.
contract templates
Predefined templates that are used to expedite the contract creation process and maintain consistency across agreements. These templates include placeholders for clauses, fields, dynamic tables, and signature blocks, which are
automatically updated based on the information in a contract request.
E
e-signature
A legally binding electronic method for signing contracts, with integrations available for providers such as DocuSign and Adobe Sign.
employee center
A portal for submitting contract requests.
external storage
Third-party cloud storage platforms such as OneDrive or Google Drive that can be integrated with ServiceNow for contract document management.
M
Microsoft Word Add-in
A program that integrates with Microsoft Word that enables a user to add content controls for metadata, clauses, signature blocks, and dynamic tables.
N
non-self-served request
A contract request that requires legal team involvement for drafting, negotiation, or finalization of the contract.
Now Assist in Contract Management Pro
A generative AI-powered feature that enhances productivity by suggesting contract clauses, and extracting metadata from a signed contract.
O
obligation
Specific commitments or duties outlined in a contract that parties are required to fulfill.
obligation management
The process of tracking and managing obligations within ServiceNow to ensure compliance and timely execution.
Optical Character Recognition (OCR)
A technology that converts scanned contract documents or PDFs into searchable and editable text within ServiceNow.
own-paper request
A contract request initiated and managed by the requester where the contract document is created using templates and clauses that have already been verified and approved by the internal contract team, reducing dependency on
legal teams and accelerating processing.
R
record producer
A catalog item that allows end users to create records from the Service Catalog.
S
self-served contract request
A contract request that is initiated and managed by the requester. The contract document is created by using templates and clauses that have already been verified and approved by the internal contract team. The self-served
contract request reduces the dependency on legal teams and accelerates processing.
ServiceNow Store
A marketplace where users can find and install applications, plugins, and enhancements for ServiceNow, including contract management extensions.
T
third-party contract request
A contract request that requires the legal team to draft, negotiate, or finalize the contract.
W
wet signature
A traditional handwritten signature on a physical contract document, sometimes required for compliance or regulatory purposes.