97% of business and legal professionals find contract outsourcing effective.
This multinational third-party survey explores the management of routine legal contracts—like non-disclosure agreements, joinders and engagement letters—and the extent to which businesses are (or aren’t) outsourcing or using technology to automate workflows and find process efficiencies.Key findings include:
- 71% of respondents have seen their routine contract work grow in the last six months.
- 76% of respondents outsourced their routine contracts to a legal technology provider, alternative legal services provider, outside counsel, or a combination of the three.
- 97% found contract outsourcing effective, ranking more time for higher-value work and faster reporting speeds as the top benefits.
- 64% of respondents believe that routine contract work negatively impacts workplace morale.
- Nearly eight in ten respondents plan on increasing their investment in automating or outsourcing contract management processes in 2022, versus only 2% that said their investment will decrease.
Learn more about how contract outsourcing and automation is giving valuable time back to business and legal professionals.
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The State of Legal Technology 2022
Take learnings from 2021 and turn them into earnings in 2022! Learn more about how Contract Automation and Intelligence can help your business streamline high-volume legal work so you can focus on your most important projects.