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ARTICLE · 22 MARCH 2023

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Contracts play a crucial role in the operation of any business, and managing them efficiently is essential. While eDiscovery mainly focuses on responding to legal and compliance issues, contract...

South AfricaCorporate/Commercial Law
Linda Sheehan
Linda Sheehan
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Contract tech

Contracts play a crucial role in the operation of any business, and managing them efficiently is essential. While eDiscovery mainly focuses on responding to legal and compliance issues, contract tech, on the other hand, is aimed at delivering strategic value to the business. This technology is not just used by legal and compliance teams but also by other key decision-makers such as:

  • CFOs;
  • CIOs;
  • CROs;
  • procurement; and
  • sales departments.

The goal of contract tech is to provide more than just improved efficiency in the legal negotiation process, but also to create long-term benefits for the business as a whole.

Contract analysis helps manage risks and derive value from contractual obligations in historical contracts quickly. The manual nature of contract analysis exercises can be expensive and results in the analysis of a sample of contracts, rather than the entire contract universe. Delays can have significant financial and

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