What's Happening?
A webinar hosted by Workday and Above the Law is set to explore the findings of the latest Contract Intelligence Index Report, which highlights contract ownership as a significant blind spot for legal teams. The report, which surveyed nearly 7,000 individuals
across 10 countries, reveals widespread confusion about contract ownership, a problem that persists globally. The webinar will discuss the implications of this issue, including revenue loss and inefficiencies in contract lifecycle management. Legal teams that have successfully integrated contracts into business intelligence systems are contrasted with those still struggling to manage them effectively. The session aims to provide insights into closing this gap and improving contract management practices.
Why It's Important?
The findings of the Contract Intelligence Index Report underscore a critical challenge facing legal departments: the lack of clarity and control over contract ownership. This issue can lead to significant financial losses and operational inefficiencies, as contracts are fundamental to business operations. By addressing this blind spot, organizations can enhance their legal and business processes, turning contracts into valuable business intelligence. The webinar serves as a platform for legal professionals to gain insights into best practices and strategies for improving contract management, which is crucial for maintaining competitive advantage and ensuring compliance.
What's Next?
The webinar, scheduled for July 29th, will provide a forum for legal professionals to discuss the report's findings and explore solutions to the challenges identified. Participants will have the opportunity to earn CLE credits while engaging with experts on strategies to improve contract ownership and management. As organizations increasingly recognize the importance of effective contract management, there may be a shift towards adopting more sophisticated tools and technologies to address these issues. The outcomes of this discussion could influence future legal practices and drive innovation in contract lifecycle management.
