At most organisations, the contract negotiation process is highly manual, inconsistent and reliant on the institutional knowledge of the attorneys involved. Companies lack well-documented clause-level risk standards to advise on contract issues, and have no clear and consistent process for entering into agreements. The implications are unnecessary risk, inefficiency, cost and delays.
Taking a data and process-driven approach to enhancing the contract negotiation process can unlock hidden value that leads to a simplified contracting process, less risk, improved insights, higher productivity and a better bottom line.
