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Contract automation is coming to your world today – are you ready?
Artificial intelligence is no longer the wave of the future – it is already a well-established part of the landscape. Market intelligence firm IDC estimates that 28% of companies already use AI, and 41% plan to do so in the next two years.
The rise of AI points a spotlight at the need for integrating intelligent technologies into our business processes — particularly around contracts.
- The average business holds 20,000 to 40,000 contracts
- 60-80% of all B2B business deals are secured and regulated through contracts
Contracts are a key component of business but are complex to create, difficult to negotiate, and time-consuming to manage.
Do contract processes cause bottlenecks and slow-downs in your organization? Most likely the answer is yes.
Poor contract management can lead to a long list of poor outcomes:
- lost work time (or more time spent on administrative, trivial tasks)
- slow contract and business cycles
- delayed time to revenue
- poor control and visibility, and
- greater risk
All of these poor outcomes have an effect on your bottom line. This explains why effective Contract Lifecycle Management (CLM) is a growing priority for many businesses. It is a key driver of revenue growth and reduced costs. Fully realized CLM can create benefits across the organization, but in order to maximize its potential, integrated technology has to play a fundamental role.
Automation is the key to implementing the effective contract processes your organization needs to thrive.
Join Doug Rybacki, Conga VP of Product Management, Marilyn Salyer, Conga Sr. Solutions Engineer, and Tim Cummins, IACCM CEO, on July 20th, from 11:00am-12:00pm ET for a webinar discussion of best practices for contracts to help you thrive in an automated world. Register now.