Preparing for the march of technology

Are you ready for digital first contracting?

My survey seeks to find out broad opinions on current practices in contracting, and what the future may hold. It’s great to get a real-world view from across sectors and continents. However, low confidence in your organisation’s ability to manage the march of technology is less positive.

Technology, from apps to zoom, impacts every part of our lives in an ever-increasing way and all companies will have to manage these effects as it progressively streamlines contracting processes. At the very least, you may have had to sign an agreement remotely in the last 12 months!

From chatbots, automated contract creation, distributed ledgers, checking defects with IoT scanners, to smart contracts… technology will increasingly be used in business processes and practices.

Can your organisation cope?

From the survey responses so far, most respondents are either unsure or not very confident that their business has the skills and resources necessary to respond to the increased roll-out of new technologies on business deals.

What’s your view? Do you think your organisation is prepared? How far have new technologies been adopted in your business?

Please fill in my survey and let me know your thoughts on what contracting will look like in the future.

What should you do?

Innovation does not necessarily require you to invest in new technology.

The first step is to evaluate what you already have, and use the full capabilities of existing tools and staff. Then decide what else you need to adapt and respond to new technologies. Also, consider succession planning so that you don’t get caught without the skills to harness the beneficial effects of new ways of working.

Like this article?

Share on facebook
Share on Facebook
Share on twitter
Share on Twitter
Share on linkedin
Share on LinkedIn
Share on pinterest
Share on Pinterest

Leave a comment