Global Benchmark Study on AI-Enabled Contracting

This report presents a benchmark study focused on the barriers and benefits associated with AI-enabled contracting across various organizations. It identifies six key trends impacting contract lifecycle management (CLM) and the adoption of artificial intelligence (AI) solutions. The study reveals that a significant portion of the workforce is involved in contract management, yet many organizations face fragmentation and inefficiencies in their contracting processes. The report outlines obstacles to implementing CLM solutions and highlights a lack of understanding regarding the potential of AI in enhancing contract management. Despite enthusiasm for technology, many organizations have not yet adopted CLM solutions, with a notable percentage indicating plans to implement them in the near future. The findings aim to assist organizations in recognizing automation barriers and knowledge gaps, ultimately facilitating a stronger business case for technology investments that align with growth strategies. The report emphasizes the importance of integrating technology with effective implementation practices to improve organizational performance.