Achieving digital nirvana is a priority for modern organizations. But, even as digital transformation becomes a critical part of boardroom agendas, enterprises are realizing that it’s best not to run headlong into the process. There are no big bang digital transformation experiences – it doesn’t happen overnight and requires a clear, long-term vision. Tech transformation is a continuous journey that is steered towards bringing changes and improvements across businesses.
A 2020 ACC study, The Legal Operations Maturity Benchmarking Report, found that most companies are in the nascent-to-intermediate stage of CLM maturity, especially in traditional legal areas like compliance. The digitization of data, repository management, and the structured workflows available in standard CLMs prepare organizations for the next level of legal operations evolution – that is driven by AI.
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Contract Management Transformation Journey of our customer Graebel – a global relocation services provider.