Trends Summary
Trend 1: General Counsels that Embrace the Cyborg Rise to the Top -
The best digital hunter wins, and CROs and CMOs who don’t have a world-class tech stack to hunt, nurture, track, and analyze every step of their prospects’ journey from cold to sold, will lose out to the competition.
Trend 2: Companies with “Tweet Shift” Contract Nimbleness Win the Market - What is a "tweet shift"? In a single tweet, markets can change, unrest can happen, and nimbleness and agility have taken on a new dimension. In 2022, your business needs to be able to shift on a tweet.
Trend 3: Bad Contract Processes Sink NPS Scores - If your contract process is not streamlined, simplified, and world-class, you’re behind before you even get started and your NPS scores will show it.
Trend 4: Legal Tech Efficiencies Fill Revenue Gap Caused by Slowing Global Growth - According to World Commerce & Contracting, companies using CLM could save an average of 9.2% a year in annual revenue that is typically lost to slow negotiations and missed milestones. And for larger organizations, that percentage is often 15%.
Trend 5: Legal Tech Pros Take on Unicorn Status - Legal ops talent is a valuable but scarce resource. In 2021, Deloitte’s State of Legal Operations Survey found that only 35% of legal teams believe they have good tech skills.
Trend 6: Integrations that can Sluice Data Through Your Organization Win - CLM systems that can integrate not only seamlessly but widely with today’s common enterprise solutions and let data sluice easily into other technologies are the most powerful.
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