AI based contract management software automates and standardizes processes, decreasing risk and manual work for today’s busy in-house counsel. This is particularly important as many corporate legal departments struggle to find practical ways to do more with fewer resources.
In a recent survey from Deloitte, 71% of in-house lawyers reported that they’re stuck doing manual work that should be automated. By eliminating time spent on manual work like emailing or updating spreadsheets, they can dedicate more time to higher-value endeavors for their companies.
AI based contract lifecycle management (CLM) solutions offer many benefits, such as reducing the time spent on contracts by 20%, accelerating contract review by up to 70% and increasing efficiency by 52%. For example, AI can redline your contract and turn your playbook checks into intelligent, actionable and collaborative tasks.
But not all CLM AI solutions are created equal.
Buyers should be aware of all the features needed for AI based contract management software – both pre- and post-signature – to optimize ROI. This Quick Start Guide provides a run-down of which features to look for and expert advice to help you get started.
Are you ready to significantly decrease manual work, close deals faster and enhance compliance? Fill out the form to download the Quick Start Guide “AI and Legal Contract Management: What to Look For and How to Get Started.”