The value of contract management software is apparent to many contract management, legal, and procurement professionals. These changemakers know that manual contract management is not effective, and they see an opportunity to streamline, automate, and improve transparency by digitally transforming their organization’s contract management processes. The challenge for the people managing contracts day-to-day is translating the value to get approval on the contract management software investment.
Now, more than ever, organizations expect their employees to do more with less. That’s why contract managers and procurement professionals are choosing to invest in contract management software to keep up with industry standards and capabilities. Surveys report that companies using contract management software can reduce annual contract management expenses by 20% to 50%. In addition to reduced costs, the benefits of contract management software can provide business professionals with better (and faster) results, meaning fewer mistakes, improved accuracy, smoother processes, and better monitoring.