72% of businesses faced unexpected legal issues due to poorly reviewed or misunderstood contracts, survey conducted by Legaltech News.
Organizations that lacked complex contract review processes experienced an average of 9% higher costs for contract disputes-Deloitte.
Organizations without adequate contract review experienced a 50% higher rate of contract disputes, revealed IACCM.
GCMA estimated, organizations without adequate contract review may lose up to 20% of potential revenue due to unfavourable terms.
Harvard Business Review reported that 80% of business executives believed contract-related risks are increasing.
67% of in-house legal departments identified contract review as their top priority for maximizing business outcomes, revealed by ACC.
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