Automation - Transforming Contracts and Commercial Management
A March 2017 survey by IACCM revealed that levels of satisfaction with current contract management automation systems are low, with a rating of just 4.2 out of 10. Organizations have struggled to gain adoption and for many, integration with other systems is proving problematic. As a result, functionality is generally limited - for most, the repository functions of accessing and having visibility into agreements are the primary benefit. Almost half are benefitting from the system as a store for standard terms and term options, including templates, and around 40% use the application to support review and approval. Less than one third can demonstrate an ROI from their investment.
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