Contract lifecycle management systems

reduce erroneous payments by

75-90% and cut operating
& processing expenses by
10-30%

Trends of contract management to look out for in 2022

and beyond.

1
Automated clause analysis to flag deviations
65%
AI to save 65% of Legal professionals time on
administrative tasks

2
Improved visibility into contract compliance
AI-enabled contract compliance management to track con-
tractual performance, drive predictability, and prevent up to
9% of revenue leakage

3
Automated contract review and negotiations
AI-based contract analytics solutions will reduce the manual
effort needed for contract review by 50%.

The increasing prominence of AI in contract

4
analytics
AI-based contract interpretation and summary for dissemina-
tion to affected personnel is 98% accurate as compared to
92% accuracy for human-based analysis

5
Smarter contract audit trails and activity logs
Centralized contract storage with smart clause
retrieval also boosts a business’ audit efficiency by
nearly 60%.