Half of organizations do not use contract management platforms beyond their repository function, with only one-third using a contract generation function
CHICAGO, Jan. 16 2018— SpringCM, the leading document and contract lifecycle management platform in the cloud, released “It’s Time to Evolve Past Basic Contract Management,” a commissioned study conducted by Forrester Consulting on behalf of SpringCM that examines the evolution of contract management within organizations.
The study revealed that most businesses are not taking advantage of their platform’s full value, with nearly half having established their contract management system as nothing more than a repository of contracts. However, more than 60 percent of organizations say they plan to improve their contract management capabilities within the next 12 months.
The most common objectives found for this were to drive more effective compliance with contractual benefits and commitments, reduce costs associated with contract creation and management and ease access and oversight into contracts.
“It’s no surprise that organizations who use their contract lifecycle platforms for nothing more than a repository struggle to see the benefits of having such a platform,” said Dan Dal Degan, CEO of SpringCM. “Businesses using these highly functional and powerful platforms for analysis and optimization are twice as likely recognize the value these tools hold. The real struggle is moving these businesses from basic usage to more advanced functionality. At SpringCM, we work with organizations to identify and address their specific needs, regardless of where they are in their contract automation journey.”
As the leading document and contract management platform for more than 600 companies, SpringCM commissioned Forrester Consulting to evaluate the state of contract management adoption and practices today in an effort to better understand how to better help users overcome barriers within contract management.
“We understand that users face a wide range of barriers, from technical to political, when trying to move contract management into maturity,” said Erik Severinghaus, chief strategy and alliances officer at SpringCM. “Our goal is to work with our customers to uncover and deliver upon the possibilities that many businesses often struggle to envision.”
To view the full study, please visit https://www.springcm.com/forrester-2017
SpringCM helps work flow by delivering an innovative document management and workflow platform, that powers the leading contract lifecycle management (CLM) application. SpringCM empowers companies to become more productive by reducing the time spent managing critical business documents. Intelligent, automated workflows enable document collaboration across an organization from any desktop or mobile device. Delivered through a secure, scalable cloud platform, SpringCM document and contract management solutions seamlessly integrate with Salesforce, or work as a standalone solution.
Every day, more than 600 companies use SpringCM to improve customer experience and get more done, faster.