Contract management software (Fair Isaac Corp.)

LaVern Pritchard, in a post dated Sept. 12, 2005 at Minnesota Lawyer, referred to Fair Isaac Corporation and its 20-lawyer department. A senior lawyer in that department explained that they are currently considering “enterprise contract management software.”

In his words, “Contract automation has the potential to positively affect this business more than just about anything else.” To that department, it has the potential to improve the quality of contracts, increase efficiency, and make lawyers’ jobs more interesting as they can focus on contracting issues and challenges rather than the pedestrian aspects of document creation and administration.

More details on contract management software as they come to light. Meanwhile, see my posts of March 18, 2005 about law departments managing contracts, April 18, 2005 on abolishing mandatory contract review, Aug. 31, 2005 on setting standard terms, and Sept. 17, 2005 on setting minimum requirements for legal department review.

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