Many sales or procurement professionals will have likely experienced a scenario where a crucial contract negotiation hinges on knowing your historical success rate with specific terms. Their colleagues on in the legal team can, no doubt, picture a situation where they must quickly identify all contracts with a particular supplier across multiple regions to assess the potential risks they pose in light of new cybersecurity regulations. Or a general counsel will recognize being under pressure to outsource routine contract review and needing to know what attributes of a contract qualify it for outsourcing. The trouble is that traditional contract management, with its focus on document storage, drafting and basic approvals, often leaves businesses flying blind in such situations.