Exari publishes corporate counsel survey results
Document assembly and contract automation software vendor Exari Group has just released the results of its 2009 Corporate Counsel Contracts Survey Report, based on surveys conducted at two recent industry events – the ACC Annual Meeting and LegalTech New York. Close to 90% of respondents were the general counsel or other inhouse attorney who reported the combined pain of poor renewal tracking and poor visibility into contract risk as the biggest problem with the contract management process.
Of the approximately 100 companies surveyed, more than 70% cited sales contracts as the dominant contract type with procurement contracts following at 51%. Most companies had not yet deployed significant contract automation, and were still using a combination of Microsoft Word templates and cut-and-paste. Nearly half of the respondents create between 10 and 100 contracts per month, with 62% reporting that legal review of these contracts takes 4+ hours.
Click on the attachment link to download a full copy of the report.