It’s funny how some of the most important aspects to running a business can also be the things that tend to drag businesses down. Contracts are an excellent case in point. While contracts are essential, managing them can be a labor-intensive efficiency killer. Corporate legal departments tasked with watching their organizations’ bottom lines need a better way of managing the process.

Legal professionals have relied on everything from email to spreadsheets to (gasp) paper to track, share, and analyze the status of contractual agreements. There’s little to no visibility into contract terms and conditions, and limited ways to determine if partners are abiding by their contractual obligations. Worse, manual, non-standardized methods can greatly increase the risks of errors.