New Survey Finds Contract Management in Demand
The International Association for Contract and Commercial Management (IACCM) has released the results of a survey designed to capture its members’ current sentiments regarding contract management software solutions. The survey underscores the benefits that effective contract management can offer businesses in a down economy, as well as evidence that enterprise organizations are increasingly embracing SaaS solutions.
Highlights include:
51% of respondents said that, given the state of the current economy, contract management was more important than ever
36% said they were likely to invest in contract automation software in 2009
The functional organizations most influential in the purchase decision were: Contracts – 52%; Legal – 44%; and Procurement – 39%
Opportunity exists for contract management software providers: 38% of members surveyed said their organization does not currently use a contract management system, while another 18% said they will by the end of 2009
The most important features of a contract management system were a contract repository/database and contract milestone alerts
The majority, 39%, said they are more likely to consider on-demand, or SaaS, solutions for their contract management needs, while another 29% said they already considered these apps acceptable.
However, SaaS still came in third as the licensing option of choice, behind enterprise/on-premise and concurrent user models. This isn’t really surprising, as many large organizations have been slower to change entrenched views about adopting SaaS solutions. The greatest growth in the market has been occurring in small and mid-sized businesses that tend to be more flexible and sensitive to cost pressures.
Download the full IACCM Survey.
Add comment... February 25th, 2009 Author: admin
