Research indicates that between 2013 to 2020, the digital universe will grow by a factor of 10 – from 4.4 trillion gigabytes to 44 trillion.
Currently, the amount of data across the globe doubles every two years. Growth is good – it is what businesses strive for every day. However, with business growth comes more data, more contracts, and more information to manage.
Combined with regulatory requirements, globalization, and an increase in contract complexity, this growth has propelled the importance of an effective contract management process to the forefront of today’s business environment.