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Will digitization fix the problem with contracts?

March 1, 2021
When tech meets humanity

In a webinar on March 9th, I’ll be joining legal and contracting experts Craig Conte and Mark Ross to discuss the future of contracts and contract management. Our research report (Tech Meets Humanity) suggests that fundamental change is arriving much faster than we expected – or will the forces of complexity once again stand in our way?

I rarely come across an executive who has a good word to say about contracts. Sure, they like winning them, but they hate the process and wish it could be made much simpler. Recent comments have included an unfavorable comparison with root canals and a suggestion that contracts should be declared obsolete.

So if there is such dislike at top levels, why hasn’t anyone done anything to fix it? The answer is that it’s just too complicated, there are too many stakeholders and – of course – it can’t be done unilaterally. Plus there are powerful forces to overcome, with the legal and finance profession often wedded to traditional methods and approaches.

Contract lifecycle management systems were supposed to fix the problem. By and large, they have not. They may have masked the issues to some extent and allowed some reduction in cycle times, but they have not addressed many of the core inefficiencies or sources of lost value. Is digitization the answer?

Join us on March 9th as we examine the problem, discuss the solution and explore the obstacles that must be overcome to secure a better future. For details and to register, click here.

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