Legal Tech's Predictions for Contracts and CLM in 2022
Chad Warpula, a partner with Troutman Pepper, is quoted in the Legaltech news article, " Legal Tech's Predictions for Contracts and CLM in 2022."
Chad Warpula, partner, Troutman Pepper: "The challenges of remote working environments have highlighted the need for more robust technologies to ensure we remain collaboratively connected and operationally efficient. This is especially true with respect to the increasing volumes of commercial transactions and contracts. We saw a growing trend in 2021 of companies jumping off the fence about whether to implement CLM solutions to enable more to be done across their disparately placed workforces. As companies return to reimagined and hybrid work environments, the demand for the integrated infrastructure and reporting capabilities of CLM solutions will significantly increase due to the need for efficiency, connectivity, consistency, and reporting. New entrants into the market will also continue to close the gap on the established CLM providers by offering more customizable niche solutions and latest advances in artificial intelligence."