Why does contract management software suck?
If you’re familiar with the Market for Lemons, then that’s why. No need to read on.
In a market for lemons, like used cars, the buyers don’t know how to buy. What questions to ask, what makes a good used car vs a bad one, how to test it themselves, etc.
So the market gets flooded with false promises and bad outcomes. The customer doesn’t know any better until after they’ve bought.
The world of contract management software is the same. Most people are buying it for the first time and they’re not technology or procurement experts. Even most legal teams we speak to don’t know what’s involved in building and maintaining a great contract database. That’s totally ok - lawyers aren’t data architects.
Those unsuspecting buyers aren’t calibrated for what to expect so they buy the hype, only to look foolish to the rest of the company when it flops.
Don’t fall into that same trap.