Contract Insights

The world of contract administration has evolved drastically in recent years.  Given the ongoing COVID-19 pandemic and the embrace of digital transformation over obsolete legal operations methods, organizations must be ready to brace themselves in 2022 with automated contract management software tools that support remote contract collaboration and intelligent workflow automation.  To prepare organizations for the changes to come, here are the top three contract management technology tools that organizations should equip themselves with for 2022.

Does your organization have a high volume of contracts of ranging complexity?  Do you need these contracts searched, have important contract data extracted, and be stored within an easily accessible contract data repository?  Don't leave your team overwhelmed with manual contract data extraction and legal discovery processes.  Instead, leverage intelligent contract data extraction with the help of powerful contract intelligence within a leading-edge contract management software system.

If you work within the IT industry, you may find that the management and oversight of a high volume of IT contracts of ranging complexity can require many moving parts.  If your organization is taking on IT contract management with manual contract management methods - such as those involving many filing cabinets, decentralized spreadsheets, and scattered emails - your team runs the risk of facing wasted time, squandered revenue, costly mistakes, and missed opportunities (among other harmful consequences).  Leave obsolete and damaging IT contract management methods in the past; tackle the following three IT contract management best practices with centralized and user-friendly contract management software.

This blog post was updated on August 26th, 2021.

Artificial intelligence (AI) is already sharpening professional methods across a variety of industries.  However, advancements in AI can be particularly advantageous as they apply to contract management software systems - if contract intelligence engines built upon a foundation of machine learning are fed a nutritious diet of relevant contract data.