Contract management is at a turning point; it is an area that is ripe for innovation and digital transformation.
Contracts play a primary and ever-growing role in today’s business landscape. At the same time, contract management teams are under pressure the handle an ever-growing number of contracts with the same, or even fewer resources. Contract management professionals are in the classic conundrum of having to do ever more with less – across multiple functions. Technology can step in to significantly reduce the burden.
People will always be needed to address intricate and unique contracting scenarios, in many cases, machines are replacing people when it comes to executing repeatable and repetitive contracting tasks, such as:
- Storing and finding contracts
- Controlling access to contracts
- Drafting, revising, and negotiating contracts
Our whitepaper, People or machines: Understanding the future of contract management, explains how technology can work to automate these areas of contracting.
We also explain:
- What determines the level of maturity in contract management practices and the benefits of establishing mature contracting processes
- Intelligent contract management technologies—including artificial intelligence, machine learning, and natural language processing—and the specific applications and advantages of these technologies.
- Future trends in contracting, including blockchain and smart contracts.
Download our whitepaper, People or machines: Understanding the future of contract management, to gain a complete understanding of the role of machines in contract management, and how these technologies will work with – and for – humans in the future.