You’re probably expecting to see a Return On Investment (ROI) calculator here.
ROI calculators make simple assumptions about a hypothetical environment. At Contract Logix we’ve learned over our long tenure working with hundreds of customer organizations that you can’t rely on skewed, leading “data” that probably has little relevance to your business. ALL businesses are truly unique and need to account for specific objectives, as well as their own contracting infrastructure to establish their ROI.
Our customers recognize their return on investment through gains in efficiency across the entire business as well as within individual departments that are involved in the contracting process. They also do so by reducing the risk associated with decentralized and insecure storage and access to their contracts, failure to comply with terms of their contracts, and missing deadlines associated with contracts. Just a few of the factors to consider within your own organization include:
Below you will find a few additional insights that highlight important key areas where return on investment and overall value can be achieved.
12% of a company’s total annual costs may be devoted to contract management and administrative tasks.
Source: Pricewaterhouse Coopers
Best-in-Class companies have 19% fewer days in their average cycle time to create, negotiate, and approve contracts compared to All Others.
Source: Aberdeen Group, “Leveraging E-Signature in Your Contracts: Best-in-Class Advantage”