Summary
- SpotDraft's survey reveals that while 54.6% of in-house teams use a CLM, only 1% find their processes fully optimized due to slow rollouts.
- Implementation timelines vary: vendor-managed setups can go live in 2-6 weeks, while enterprise rollouts may take several months due to complexities like data migration and integrations.
- Data migration is the biggest bottleneck, with 71% of companies unable to locate at least 10% of their contracts, complicating the process.
- Effective adoption strategies and phased launches are crucial for success, as teams must prioritize high-value contracts and ensure user engagement from the start.
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