By Deloitte, December 2, 2020
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Organizations are investing in technologies such as artificial intelligence (AI), natural language processing(NLP), and robotic process automation (RPA), and they’re transforming their approach to contract lifecyclemanagement (CLM). According to respondents, 63% of organizations are deploying CLM solutions to analyzeCOVID-19 impacted contracts, and 89% of these organizations anticipate enhancements in their CLM function.
More than half of all respondents expect to increase engagement with alternate legal service providers(ALSPs), whether ALSPs were part of their model prior to COVID-19 or not. In short, moving from response to recover, legal departments continue to be focused on technology investments and operating model changes that will help them move forward and emerge stronger from the pandemic.
