Contract Insights

Contracts are living documents that are frequently revisited by parties, counterparties, auditors, and other regulatory bodies. Ever wondered what happens when a contract is changed and no one remembers who made that change? That's where a contract audit trail comes in. What about when a company is being audited or needs to prove several compliances? Ding ding ding! Audit trails. Speaking of compliance, Gartner reports that 97% of Chief Audit Executives (CAEs) have included "Regulatory Compliance" as a top-priority area in their 2026 audit plans¹. Whether you are being audited, checking on compliance, or just need to revisit the terms of a contract, contract audit trails are here to help. Here's how.

One of the most common pitfalls of contract management is losing track of changes, which can lead to costly errors and legal disputes. This is where a robust system for automated contract version control becomes not just a convenience but a necessity.

Hello, and welcome to the "Jungle of Business Contracts" - where we tame the wild beasts of contract portfolios, deals, counterparties, and internal processes with the shepherd’s crook of legal technology. Today, we are going to embark on an expedition into the dense thicket of contract auditing. By the time we're finished, you'll be navigating this jungle like a panther - agile and confident.

As contract management is a multi-faceted process with numerous steps and moving parts, it is easy for your organization to face problems.  This risk of contract management issues is significantly increased if your organization leverages manual or antiquated contract management tools.  To elucidate the CLM hardships you face and encourage growth - here is a list of six problems you might encounter in contract management.  After that, we can note how to solve such issues with contract management software.