A ‘Sign’ of the Times: Digital Contract Transformation

By Rick Ralston, CEO
Pharmaceutical Executive Magazine

The pandemic has raised the stakes for companies pursuing new data-harnessing capabilities in contract management and KPI benchmarking and tracking.

As the COVID-19 pandemic began to take hold, many pharmaceutical companies turned to contract lifecycle management (CLM) software to help digitize their contract processes. At Contract Logix, for example, we’ve seen the number of contracts executed with our software using electronic signatures increase by 682% during COVID-19 across our overall customer base, which includes pharmaceutical and biotech customers. In addition, the number of contracts managed using our software over the last eight months has grown 307%. This is in addition to triple-digit increases in the number of documents, contract requests, and tasks our customers manage with CLM software as more companies move to digitally manage contracts to harness the data in those legal agreements. COVID-19 is forcing the pharmaceutical industry to accelerate digital transformation initiatives, and CLM can help.

Read the full article at: https://www.pharmexec.com/