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Summary of Results
With remote and digital work on the rise, legal teams are seeking to improve the way contracts are done. In a DocJuris survey of 50 companies with central legal functions . . .
47% are discovering more friction
Third party contracts
Contract management systems do not adequately handle the intake, review, and negotiation of third-party contracts.
PDFs
Legal functions struggle to efficiently convert and redline PDF contracts.
Early assessment
With rising demand for faster contract review, internal business clients are pressing to deliver first pass review quickly (e.g.,RFPs).
81% find playbooks to be a challenge to develop and maintain
Access to examples
Practitioners struggle with finding information whileworking remote, and team members are not readily available (e.g., sharing best practices).
Operationalization
Leadership spends too much time on training, as existing playbooks are unwieldy and difficult to use (e.g., ~30 pages and less access to multiple monitors).
MicrosoftWord . . .
Is where data goes to die. Almost all legal departments with contracting functions lose valuable insights when redlines are saved to a sea of file directories.
Additional Resources
Redline vs. Blackline: Contract Negotiation GlossaryContract Negotiation Operations SurveyArtificial intelligence in contract management softwareContract Negotiation Workflow ScoreHealthcare Contract Management SoftwareFree Contract Management Software
