Contract Management Usages and Practices: 2020 Research Report
WHY CORPORATE COUNSELS NEED TO DIGITALLY CHANGE WITH AI AND AUTOMATION
In-house legal can be a chaotic job – too much work, not enough resources, and slow and inefficient processes. And in a world of increasing uncertainty and fragility, these challenges are amplified. That means legal needs to improve its adaptability as much as its capabilities by embracing automation.
Today’s general counsels (GCs) and legal teams should equip themselves with leading-edge legal technologies in the form of intelligent machines, improve the efficiency and effectiveness of their contracting, and do more – with fewer resources – when it counts the most.
ContractPodAi conducted a study to examine the usages and practices of corporate legal departments, when it comes to their day-to-day contract management. Our research involved interviews with corporate lawyers who manage contracts across North America.
Ultimately, it reveals the crucial need within legal departments to simplify the complexities of contract management processes, seek increased productivity, and liberate resources with advanced AI functionality. In fact, about a half of corporate lawyers believe artificial intelligence and automation would greatly improve their existing contract management practices, giving them the freedom and confidence to focus on higher-level, strategic work.
Download our research report to learn more about:
- The biggest contracting challenges facing today’s legal departments – like searching for massive amounts of data
- The legal industry’s current lack of AI and automation
- The key features of automated systems like AI-powered contract lifecycle management (CLM) solutions
- The benefits of AI automation through contract management software
Get your legal team started on their legal digital transformation journey. Download your copy of our research report today!