Contract Analysis Trends: Smarter Search
Contracting work requires end-to-end attention. It’s important to negotiate favorable terms in an agreement, but that effort loses value if the terms can’t be easily found and enforced. It’s incredibly important to a business’s bottom line to be able to effectively search a base of contracts to find opportunities and risks.
DocuSign conducted a survey of 1,300 contracting professionals around the world to understand how organizations search and analyze the data in their contracts. Here is what we learned:
68% of contract professionals search for completed contracts at least once a week
Finding the specific language in a contract takes more than 2 hours on average
Two-thirds of teams are still using a spreadsheet and email to manage agreements
Around half of respondents expect AI to reduce human error and minimize risk in contract management
Read this eBook to learn how AI-powered contract analytics can address these challenges.