Companies need to realize that technology alone doesn’t guarantee contracting success, but having a strong and robust CLM process is equally significant.

So, what should companies do?

--Build an ecosystem where all the stakeholders can share their inputs
--Seek feedback from other departments like HR, Sales, IT, etc.,
--Get knowledgeable people on the contracting process to lessen the chances of poor contracts
--Eliminate data silos, minimize risks, and avoid friction (both internally and externally)

Read the blog to know the criticality of having an effective contracting process in place and the importance of technology.