The Information Technology (IT) service industry is one of the fastest growing industries in the Digital age. As digitization makes life simpler and gathers more and more sway over private data, the IT industry faces stringent compliance requirements to prevent privacy and data breaches and cyber-security violations.
Lack of visibility into Service Level Agreements (SLAs) that often drives poor customer service, is no more acceptable, especially with rising competition and reduced barriers to entry. Internet of Things (IoT) has further enhanced the need to monitor newest security threats and keep up with the new compliance requirements.
In such a scenario, leading finance and legal heads of the information technology industry are looking for state of the art contract management operations automation via Artificial Intelligence (AI) based solutions.
IT sector has seen unprecedented digital transformation and growth in the last decade. Despite this progress, contract management software adoption for this sector is slow,with slow contract turn-around time, and little or no post-award contract visibility.
The IT sector is also seeing growing complexities in the regulatory landscape to prevent privacy and data breaches and cyber-security violations. Additionally, lack of visibility and insights into Service Level Agreements (SLAs) is resulting in poor customer service and affecting sales and business, calling for an advanced, integrated, and centralized contract management solution.
Zycus AI based CLM – Enterprise Contract Management Software for information technology and services enables organizations to streamline all contracting processes, reduce risks, and design a better compliance management framework:
Find out how to create a strong foundation for boosting enterprise-wide contract compliance