There is a fundamental problem plaguing the Contract Management experience. 80% of companies can’t find their contracts, 50% of CLM deployments are predicted to fail by year-end, and only 11% of legal departments report experiencing a benefit from existing contract technology.
The incumbent approach is expensive, time-consuming, and fraught with risk. Until we understand the root causes of contracts chaos (“the prose problem”), new solutions are doomed to repeat the same mistakes again and again.
The good news is that it’s easier today than it’s been for the past 20 years to crack the code on Contract Management without upending your existing systems and process. And it starts with a shift in perspective on where to begin and why.
- Why the state of contracts management cannot remain status quo
- The costly and risky effects of the “Prose Problem”
- Why solving the conundrum of contract families is an enterprise-wide imperative
- Beyond contracts hygiene, how to manage executed agreements to achieve best practice in risk management, plug revenue and margin leakage, and generate business intelligence from one of the most valuable and overlooked information assets your company has
- Mark Harris, Co-founder & CEO, Knowable
- Alec Guettel, Co-founder & CCO, Knowable