Nearly half of legal professionals spend three hours or more reviewing a single contract, according to a recent survey, leading many in-house counsel and firms to consider whether...
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AI & Tech
The impact of ESG on contract management
Too good to be true, right? Incorporating ESG principles into contract management may seem daunting, but it’s a crucial step toward more responsible practices for a brighter future....
Culture as a vital element in contract management
Arjen van Berkum, Chief Strategy Wizard at CATS CM®, believes culture is a vital element in contractmanagement but often it is overlooked. So a small jump into it to get your mind...
The future of contract management: exploring predictive analytics with AI solutions
$4.4 trillion – that’s how much a new McKinsey report predicts Generative AI will add to the global GDP each year. To put this number into perspective – India’s 2022 GDP was just over...
Key considerations for evaluating vendor contracts involving AI
Introduction The prolific use of artificial intelligence (“AI”) to increase efficiency, optimize processes, and identify novel solutions has many businesses turning to third-party...
Companies turn to AI contract tools to reduce external risks
Dive Brief: Nearly half of companies (48%) say their enterprise risk is rising, with a growing reliance on third-party relationships contributing to much of that higher risk,...
The rise of smart contracts and strategies for mitigating cyber and legal risks
Imagine a world where contracts are executed seamlessly without human intervention, reducing costs and enhancing efficiency across industries – from finance to real estate. This is...
Can AI take the strain when it comes to contract management?
Good practice contract management (CM) in line with the government framework requires knowledge, know-how, experience, and a whole range of soft skills. Professional CM resources are...
The path to AI compliance: navigating regulation with contract intelligence
For the last six years, Amazon Fresh has been developing its “Just Walk Out” concept, reimagining how consumers shop and pay for goods. However, amidst concerns about extensive human...