Contract management technology: embrace the change

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Contract management is an area that is ripe for innovation and digital transformation. It’s worth considering the reasons behind this growing trend.

Why contract management technology is a necessity

Contracts play a primary and ever-growing role in today’s business landscape. Organizations maintain 20,000-40,000 contracts on average (PWC), with contracts governing 60-80% of B2B transactions (Gartner). The central importance of contracts, and the processes used to manage them, have significant implications across the enterprise.

It falls to legal teams and contract management professionals to handle this ever-growing volume of contracts, contracts that often have increasing compliance requirements. At the same time, it is an industry-wide trend that few legal and contract management teams are adding headcount, putting them in the classic conundrum of having to do ever more with less across multiple functions and departments.

This proliferation of contracting demands means that legal teams must find new approaches to achieve greater efficiency and at the same time maintain appropriate oversight of contracts. In other words, how to do more, more quickly, while providing control and managing risk effectively? Successfully integrating technology into legal and business processes is the key to achieving these goals.

Finding the right solution

You may have already recognized your organization’s need for contract management technology. Or you may have a contract management solution in place, but it’s not working effectively, with integrated functionality across departments. Where do you go from here, and how do you figure out precisely what you need to implement and optimize your contract lifecycle management?

 

Conga Connect, Conga’s user event taking place in Las Vegas on October 3-4, offers multiple opportunities to find the answers to these questions.

  • Customer-led breakouts: You can learn how your peers have dealt with streamlining and automating many contract management processes. For example, hear how ECSI solved problems of version control across departments.
  • Learn in-depth at CongaU Peaks: Get in-depth looks at product capabilities in CongaU Peaks sessions, so that you can find solutions to your specific organizational challenges, and come away with concrete skills in hand. Some examples include: “3 problems Conga Contracts can solve,” and “Optimizing contract management with Conga Contracts and Conga Novatus,” in addition to many others.
  • Network and enjoy: You’ll have plenty of opportunities to connect with peers and industry leaders, hear inspiring keynotes, and more. Oh, and, did we mention, have some fun? See the full event agenda here.

Register here for Conga Connect Las Vegas, and gain access to all of the benefit and value the event has to offer. Registration closes 9/25, so don’t delay!

 

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