Automating the Contracting Process: 3 Ways to Get Your Contract Management Workflow Right
Today, the adoption and implementation of legal technology and automation have increased considerably in corporate legal departments. Streamlining and simplifying the contract management workflows with legal tech improves accuracy and consistency, saving much-needed time and money. In fact, according to Gartner, artificial intelligence (AI) will bring 30% more efficiency to contract negotiations and completion by 2023. However, legal automation takes a lot of planning, as legal professionals and contract managers must first identify technological deficits — with critical business outcomes fully in mind.
In this in-depth webinar, Paul Branch, of World Commerce and Contracting (World CC), and Matt Gould, Head of Legal Transformation at ContractPodAi, discuss how to think about the contracting process in 2021. In particular, they talk about the three crucial steps to building more efficient and effective workflows — and getting contract management right:
- Examining and benchmarking existing contract workflows
- Developing a blueprint that addresses contract management gaps and process needs
- Creating a brain trust, and consulting and collaborating with various departments
Also, ask yourself:
- Why contract process workflows are so essential to your company?
- How many of the contracting stages (generation, analysis, and management, etc.) have you already automated?
- What is your biggest challenge when it comes to improving workflows?
Watch this webinar to find out more about contract automation. And learn how to create better workflows that will accelerate your entire contract management process.
