Contract Logix Experiences Triple-Digit Percentage Growth in Usage as Organizations Rapidly Digitize Contracts and Processes

This skyrocketing adoption provides clear and convincing evidence that executing digital transformation strategies continues to be a top priority for Legal, Procurement, Sales, Finance, and IT organizations, and that CLM plays a foundational role in these efforts.

Key Facts:

COVID-19 has forced legal departments to adopt technology much faster than traditionally accepted. By 2025, legal departments will increase their spending on technology threefold, and designing services in a way that allows legal teams to seamlessly shift to physical or remote interactions as needed will be the norm, rather than the exception.

Contract Logix’s data-driven contract management software plays a key role in its customers’ digital transformation initiatives by allowing them to speed up processes and time to revenue, as well as meet governance and compliance requirements while mitigating risk. In addition, innovative new real-time collaboration capabilities in the software makes contract collaboration and negotiation fast, simple, and frictionless regardless of where any internal and external parties are located.

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Contract Logix’s rapid usage growth shows that companies across all industries are accelerating digital contract transformation efforts with no signs of slowing on the horizon. Since the start of COVID-19, the company has continued to experience tremendous increases in its customer usage, including:

• 1800% increase in contracts executed using e-signatures
• 980% increase in number of triggered automatic workflows
• 830% increase in number of converted contract requests
• 400% increase in number of tasks created in the software

Executive Comments:

• “Companies can no longer postpone digital transformation. The need to conduct business anywhere, anytime coupled with the importance of finding ways to finalize business faster has made contract execution a critical investment. The tremendous usage growth Contract Logix is experiencing is a testament to that. We’re excited to be a partner with them during this exciting time.” – John Stojka, CEO, Sertifi
• “Even amid a global pandemic, Contract Logix showed exactly why we are one of the longest tenured companies in the contract lifecycle management industry. We have been proud to help our customers adapt and utilize our solutions to optimize their businesses and minimize risk.” – Rick Ralston, CEO, Contract Logix
• “COVID showed that digital transformation is real, and there’s no going back now. In 2021, I see a lot of opportunity for Contract Logix to help even more organizations leverage the data in their contracts to more effectively compete in a post-pandemic economy.” – Tim Donaghy, CTO, Contract Logix