The future is digital for Contract Management Systems – and AI will be taking charge

Written by: Nicholas Benbow Director, Audit & Assurance William Buck

Picked up a pen lately? It seems strange that in this day and age that the only time we do so these days is to sign a contract.

But that bit of scribble that attaches itself to a signature line – whose is that exactly and how do we really know that the contract has been signed by the right person with the requisite authority?

These matters often weigh heavily upon the minds of company directors.

This is where Artificial Intelligence (AI) can help.

AI can and will be the solution when it comes to authority delegation levels in managing the authorisation and execution of contracts.

Gone will be a copy of an organisation’s authority delegation levels in a Word document, hidden somewhere in a dark corner of the intranet.

Authority delegation will be infused into the contract management system, managing and policing that system to ensure that any contracts that are executed adhere to authority delegation levels set and reviewed by the Board.

Directors should insist on no more wet signature contracts that subvert that authority.

Envisioning contract management systems in the recruitment sector

While the recruitment sector is gradually embracing digital contract management, the trend is set towards a more AI-integrated approach.

This transformation will bolster governance, efficiency, and transparency, positioning recruitment agencies for success in the digital age.

As the industry evolves, choosing the right AI-enabled system will be a strategic decision for recruitment leaders aiming to future-proof their operations.

For more information on changes in contract management, contact your local William Buck advisor here.