The demand for contract lifecycle management (CLM) software is rising in the legal, public, healthcare, manufacturing and financial services sectors across the globe. This growth is not surprising when we consider the tremendous value that CLM software offers organizations. Businesses that implement a transparent contract management process compress their time to revenue, mitigate risks by having fewer contractual exceptions and increase customer satisfaction. According to the 2019 Association of Corporate Counsel (ACC) Benchmarking Survey, contract management tools can dramatically shorten cycle times. In billion-dollar companies, legal departments that employ contract management technology reduce their average contract cycle time 33% (from 30 days to 20 days).
Read this white paper to better understand:
- The drivers behind the growth in demand for contract lifecycle management solutions
- The primary sources of business value from contract lifecycle management software
- What to look for in a contract lifecycle management solution in order to maximize value