A business’ ability to create value stems from its ability to make wise decisions based on sound knowledge of the opportunities and risks of any given scenario. Yet synthesising useful knowledge that enables value-creation decisions is a capability that eludes many businesses. What all businesses do have is data — lots of it. Technology has rapidly digitised business documents and processes over the last several decades, creating troves of data where there was once only paper, phone calls and face-to-face meetings.
This paper explains the differences between CLM systems and contract analytics, including the unique problems that only contract analytics solutions can solve and the key benefits investing in this technology can bring to businesses.