This IDC Perspective challenges the notion that contract life-cycle management (CLM) is obsolete due to advancements in generative AI (GenAI). It argues that while GenAI offers capabilities such as data extraction and contract summarization, it lacks the tailored legal expertise, compliance, and structured workflows inherent in CLM platforms. CLM systems provide essential features such as secure repositories, workflow integration, and risk management, which GenAI alone cannot replicate. This document suggests that GenAI should augment rather than replace CLM, enhancing its efficiency and user-friendliness. This synergy between GenAI and CLM ensures robust contract management, making CLM platforms indispensable for modern organizations."CLM isn't dead; it's evolving. GenAI enhances, not replaces, CLM platforms, offering smarter, user-friendly solutions. Discover how this synergy transforms contract management into a powerful tool for modern organizations, ensuring compliance, efficiency, and integration."
Executive Snapshot
Situation Overview
Advice for the Technology Buyer
Where Are the Contracts?
GenAI Is Great, But…
What About Workflows and Integration?
Risk Management and Compliance
The Future of CLM
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Related Research
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