| | September 20176CIOReviewWith the revolution of traditional document production methods, contract discovery is changing the landscape for contract lifecycle management. Today, contract discovery is transforming the way global CFOs are obtaining insights into their enterprises' contract lifecycle. In the past, business units, which typically operate in silos, have frequently been out of sync with compliance, legal and risk management departments with respect to their existing contractual obligations. In many cases, the organization only has a repository for contractual agreements, rendering it cumbersome and time-consuming for the legal department to review each contract to advise on management queries. However, emerging technologies are bringing the synergy disparate corporate units by quickly ascertaining what the organization's contractual obligations are. The powerful tools can extract metadata to offer information that can be customized for specific businesses and industries. For instance, technology can provide basic or more advanced fields of information such as the contracting parties, obligations, jurisdiction or venue, costs, expenses, indemnification and limited liability, to name a few. This information is particularly valuable in the post-execution phase of contract lifecycle management, and these new ancillary technologies create efficiencies for the organization. The adoption of latest technology is also very useful when negotiating and drafting new contracts. For years, the focus of contract management technology has been on compliance and control, but that is shifting with a view of the additional value from data extraction and analysis, using legacy contracts as a source of business intelligence to predict probable outcomes. Today, analysts are better prepared to project risks associated with performance or payment using the analytics tools. By harnessing insights from historical data, organizations can gain strategic idea to make business decisions that yield more profitable results. When implemented correctly, these tools provide accurate, consistent, and swift guidance that enable decision-makers to thwart potential problems and plot optimal outcomes.In this edition of CIOReview, we give you a comprehensive look into the best enterprise contract management software available to author, negotiate, monitor, amend and approve contracts. We would love to hear your experience of leveraging innovative technology solutions to steer your enterprise.Jeevan George Managing Editoreditor@cioreview.comCopyright © 2017 ValleyMedia Inc. All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher thereof.CIOReviewSEPTEMBER - 27 - 2017Mailing AddressCIOReview44790 S. Grimmer Blvd Suite 202, Fremont, CA 94538T:510.402.1463, F:510-894-8405 SEPTEMBER - 27 - 2017, Vol 06 SE 99 Published by ValleyMedia Inc.To subscribe to CIOReviewVisit www.cioreview.com ENTERPRISE CONTRACT MANAGEMENT SPECIALCIOReviewEditorial StaffSalesT: 510.972.5013Aaron Pierce Ava Garcia Eileen SinghJoshua ParkerShirley FaithRussell ThomasSamuel Joseph samuel@cioreview.comVisualizersEric MillerAjay K DasManaging EditorJeevan GeorgeEditorialSimplifying Contract Technology*Some of the Insights are based on the interviews with respective CIOs and CXOs to our editorial staff
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