Contract management has transformed from a legal necessity into a strategic asset for HR. With the surge in independent purchasing authority within HR departments, this shift presents a lucrative market opportunity for tech vendors focusing on contract management solutions.
Key Points
- 75% of organisations now see contract lifecycle management as an HR function.
- Independent purchasing authority is increasingly in the hands of HR departments, with legal teams being sidelined.
- SMBs present a faster sales cycle and a higher return on investment compared to traditional enterprise sales.
- Messaging should focus on operational efficiency, onboarding speed, and workforce intelligence.
- AI features are becoming essential in contract analytics as a selling point.
Why should I read this?
If you’re in HR tech sales or considering entering the market, this article highlights a game-changing opportunity. It’s not just about legal compliance anymore; it’s about harnessing contract management for strategic HR initiatives. Dive in to understand how you can pivot your sales strategies to capture this emerging trend.