Aberdeen Group has published a new research report: Procurement Contract Lifecycle – Assessing the value of Contract Automation.

In the report, Aberdeen Group highlight the growing importance of the contracting process in global enterprises and the need for businesses to manage and streamline contracting to extract greater value.

Aberdeen point to the increase in corporate litigation and industry regulation as being two key drivers that have led to an increased uptake in global enterprises implementing contract automation technology solutions.

Aberdeen’s research indicates that best-in-class businesses who use Contract Management software solutions correctly, extract in the region of 3.35 greater savings from procurement contracts, than laggards who have yet to adopt these technologies.  The research also shows an average contract cycle time improvement of 39 days for best-in-class enterprises using Contract Automation solutions.

The report can be downloaded from:  http://www.aberdeen.com/Aberdeen-Library/7336/RA-procurement-contract-mangement.aspx