While technology is making its presence felt in the legal space, enterprises are still a ways away from fully embracing it. According to a recent survey, more than half the businesses interviewed said that they aren’t using any contract management or automation tool, which explains why less than 50% of negotiated savings are typically realized over the life of a contact.
Contracts are a rich source of critical information on business relationships. This information needs to be leveraged to achieve better business outcomes. Given the sheer volumes involved and the accuracy needed, a manual approach is simply not going to work. That’s where the power of AI and automated contract management can help.
Download this whitepaper to discover how you can leverage the intelligence in your contracts for insights and better decision-making.
LawSites is a blog covering legal technology and innovation. It is written by Robert
Ambrogi, a lawyer and journalist who has been writing and speaking about legal technology, legal
practice and legal ethics for more than two decades.