So, how do automation and AI in contract management help healthcare companies manage the data?

Automation and artificial intelligence in contract management simplify the entire contract lifecycle process right from the pre-contract request to the renewal/expiry. Digitized contract playbooks help organizations mitigate risk, negotiate successfully, and close the deals in a matter of hours while fully complying with the requirements.

Some of the statistics that lay importance on contract management are:

• Poor contract management costs companies 9% of their annual revenue
• 90% of the users cannot understand the contract

Read the blog on how smart contracting technologies are reducing ambiguity with regards to contracting terms, decreasing man hours, increasing ROI, and having a positive impact on your financial results.