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Study Finds Need for Visibility in Contract Process to Eliminate Human Error

April 29, 2016

Most companies take more than a month to go from the initial “handshake” with a customer to a signed contract because they rely on manual tools, according to a survey conducted by SpringCM, a contract management solution for Salesforce customers. The second annual State of Contract Management report is the result of a survey of more than 800 professionals on their contract management processes and challenges.

The report, conducted last month, found:

  • 74 percent of respondents’ contract processes are not automated;
  • 85 percent attach contracts to emails, where they can be lost or the wrong versions used;
  • More than four in 10 keep contracts on shared drives, increasing security risks, and;
  • 68 percent said human error affects their contract processes “very often.”

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