Join us on November 9 to learn how to successfully innovate and achieve efficiency by upskilling and scaling citizen developers at the Low-Code/No-Code Summit. Traditional contract lifecycle management (CLM) tools focus on improving document workflows. However, Icertis seeks to take the field to the next level with contract intelligence that uses artificial intelligence (AI) and machine learning (ML) to automatically extract contract data at scale. These tools are designed to structure contracts' commercial, legal and operational data and connect that data to procurement, ERP and human capital management apps to help companies accelerate revenue, reduce costs, improve risk management and ensure compliance. When VentureBeat previously covered Icertis in 2019, the CLM market was expected to be worth $3.16 billion by 2023.

Malbek commissioned benchmark study from the World Commerce & Contracting to deliver deep industry insights about AI's evolving role in Contract Lifecycle Management Malbek, today's most cutting-edge, AI-fueled Contract Lifecycle Management (CLM) platform, today announced the availability of its commissioned study from the World Commerce & Contracting (WorldCC) about the barriers and benefits of AI-enabled contracting across organizations. The first annual report found more than a quarter (26%) of an organization's workforce is in some way involved in contract management, and contract-related data in the typical large organization sits in 24 different systems. The combination of multiple touchpoints and systems demonstrates a clear risk for lost time and productivity, while increasing potential for errors. Report findings show the need for AI to help mitigate risk in CLM while also indicating that there is a sense of enthusiasm around the use of technology in contract management. Given the pressures of today's modern workforce working in disparate locations and many companies adopting remote workforce practices, companies turn to AI in CLM because of a growing need for speed and efficiency in virtual, collaborative environments.

When it comes to contracts, every business learns to deal with several important contractual facts of life. One is that contracts need to accurately protect the company's business interests while adhering to acceptable legal practices and regulatory requirements in relevant jurisdictions. Another is that contracts must be faithfully administered in order to serve their basic business functions. Finally, contract management costs a lot. It is the cost of creating and administering contracts inefficiently.

When it comes to contracts, every business learns to deal with several important contractual facts of life. One is that contracts need to accurately protect the company's business interests while adhering to acceptable legal practices and regulatory requirements in relevant jurisdictions. Another is that contracts must be faithfully administered in order to serve their basic business functions. Finally, contract management costs a lot. It is the cost of creating and administering contracts inefficiently.

SAN MATEO, CA – September 21, 2017 – Apttus, which provides the first and only integrated platform to combine end-to-end Quote-to-Cash business process automation and Contract Lifecycle Management with behavior applications and artificial intelligence to enable customers to maximize revenue, today unveiled Apttus Contract Management with Artificial Intelligence (AI). The addition of Artificial Intelligence to Apttus' leading Contract Management product offers legal departments numerous benefits, including reductions in contract cycle time, enhanced agreement risk management, and the automation of third-party paper. "Apttus' history of contract management innovation goes back eleven years, and today we're just as invested in driving the industry forward and creating successful outcomes for our customers," said Kirk Krappe, CEO at Apttus. "It should come as no surprise that Apttus is the first to leverage artificial intelligence in this space, and in ways that enterprise organizations can leverage immediately and effectively." To learn more about Apttus Contract Management with Applied AI, download the whitepaper or review Forrester's most recent CLM report.