Contracts are the lifeblood of every company. They are a framework for every transaction and any money earned or spent by an organization. Therefore, the quality of contracts and the way they are negotiated, drafted, and managed can be either a source of value or a hidden trap.

Yet, according to estimations published by Harvard Business Review, between 5% to 40% of the value of a deal is being lost by companies due to ineffective contracting processes. Thus, poorly managed contracts may cause revenue leakage, undermine growth, and harm the company’s reputation.

Luckily, legal technology comes to the rescue.