In a revelation that underscores a pervasive issue across industries worldwide, a new study has identified contract ownership as a major financial blind spot for legal departments. The Contract Intelligence Index Report, set for discussion in an upcoming webinar hosted by Workday, delves into global survey results that highlight the costly misunderstandings surrounding contract management.

The webinar, featuring insights from Hal Marcus, Principal of Product Marketing at Workday, and Lisa Lang, VP, General Counsel at Ohio Northern University, promises an enlightening exploration of the findings from nearly 7,000 legal and enterprise professionals across 10 countries. The study, expanding on last year’s U.S.-focused report, reveals a consistent global confusion over who exactly owns the contracts within organizations.

Scheduled for July 29th at 1 p.m., the session will not only dissect the reasons behind this expensive oversight but also discuss the disparities between companies that have effectively managed their contract processes and those still grappling with basics like locating contract files.

Key points of discussion will include: - The global expansion of the study and why the uniformity of findings across different markets is particularly newsworthy. - The identification of four critical failures in the contract lifecycle that are silently siphoning revenue and burdening legal teams with unapproved agreements. - Early indicators of a growing gap between legal departments that leverage contracts as business intelligence and those that are hindered by outdated management systems.

Participants of the webinar can expect a comprehensive analysis of the implications these issues have on business operations and legal enforcement. Additionally, attendees will have the opportunity to earn Continuing Legal Education (CLE) credits, adding a practical benefit to the insights gained.

As the webinar approaches, legal professionals and enterprise leaders are encouraged to join this pivotal discussion on mitigating one of the most costly oversights in contract management. Registration details are available, ensuring access to a session that promises to be both informative and transformational for organizations looking to refine their contract oversight strategies.

The webinar promises to be a critical turning point for many in understanding and addressing the financial and operational impacts of contract mismanagement. Sign up today to secure your spot in this essential conversation.