Nearly all growing companies, including law firms, employ a small legal team working hard behind the scenes on various paperwork transactions, especially contracts. These legal teams carry great influence and play a vital business role. A recent study conducted by a software company, Apttus, revealed that 65-percent of legal professionals say that their biggest challenge at work is the time lost locating, reviewing, and analyzing paper documents. As a result, 40-percent of legal departments now use some sort of automated contract management system to deal with their paperwork transactions. Further, 29-percent of law firms are actively seeking the use of a contract management system, and it’s about time. Recent technological developments like artificial intelligence have assisted and boosted contract management systems by helping companies overcome the challenges of contracting. The rise of artificial intelligence integrated contract management systems is inevitable and legal teams must learn the technology or they will fall behind to their competition and fail client expectations.… Read More AI-Powered Contract Management Systems: AI to Solve the Struggle of Contracting