During a recent conference, I learned of a law department that uses software called Omniware. As described by a senior lawyer in that department, this contract management database tracks the status of contracts, assembles first drafts of common contracts, aggregates knowledge about bulk purchases, and has a suite of reporting capabilities.
Over the next five years it seems plausible that that matter management systems will absorb more and more of these kinds of contract management functions. That ingestion is similar to how matter management systems will incorporate document assembly capabilities (See my posts of March 24, 2005 doubting the spread of such software and Aug. 31, 2005 about Schering-Plough Canada and its use; and Jan. 16, 2006 about McDonald’s use of it.).
The platform of matter management systems will graft on other capabilities (See my post of Aug. 21, 2005 on e-billing and matter management software; Aug. 9, 2006 on the merger of corporate secretary and board software systems; and Oct. 1, 2006 on a board package that has absorbed many functions.).