Many companies experience unnecessarily high costs and mismanage revenue due to inefficient contract management operations.
82% of executives say revenue management is an increasing challenge
98% of executives say they face some sort of revenue management challenge
Even when companies have implemented CLM software, they often don't take advantage of its full capabilities and likely use a vendor that doesn't give them a complete repertoire of functions.
While most companies use their contract management solution in similar ways, there are a few features of a CLM system of which most companies do not take advantage:
Only 43% of CLM vendors allow you to use metadata tagging of clauses in imported or third-party contracts
Only 29% of CLM vendors contain robotic process automation to streamline approval of changes to standard contract language
Only 25% of vendors have advanced analytics to identify new risks, opportunities, and obligations within their contracts
By using an intelligent CLM platform that includes automation and AI, the opportunities to save time and reduce costs are exponential and endless.
50% reduction in the necessary legal resources, leading to increased efficiency
40% reduction in delivery turnaround of your contracts
60% cost reduction when it comes to implementation of your solution