The invisible 90%

90% of your contract data is invisible.

Even if you flawlessly copy and paste contract data into all your other systems. CRMs, HR systems, risk and finance systems, etc.

This is because contracts contain so much more than just commencement dates, payment terms, and other quantitative data.

Most of the information is qualitative. Clauses laying out the rules in legalese i.e. grey, fuzzy language. This information is not easily transmissible to your other systems in a neatly packaged way. Those other systems aren’t even designed to hold most of what you’d find in a contract.

The kicker is that the invisible 90% is where most contractual problems end up.

You therefore have two choices:

  1. Ignore it and accept you’re going to have nasty (and costly) surprises.
  2. Build a contract database, given there’s no other system that can accommodate it.