Turning Contracts Data into Procurement Intelligence with Epiq
Procurement leaders need better visibility into contracts to control costs, reduce risks, and improve supplier performance. Together, Ironclad and Epiq, a legal and compliance services platform, give teams a complete view of their contract portfolio, plus the insights to act on what they find.
Unlocking procurement value through contract lifecycle management
Procurement teams lose 5 to 9% of annual revenue to contract mismanagement. This white paper from Ironclad and Epiq shows how CLM reduces cycle times, closes spend leakage, automates obligation tracking, and delivers measurable ROI with real-world use cases and benchmarks to help you build the business case.
Key takeaways:
- Organizations lose $25 to $45M annually on $500M in procurement spend due to maverick spend, missed renewals, and unenforced pricing
- CLM cuts contracts cycle times by 20 to 50% and recovers 1 to 3% of contracted spend through pricing enforcement
- Proactive renewal management generates 5 to 15% savings per renegotiated contract
- AI obligation extraction eliminates manual tracking and surfaces hidden risks across your contracts portfolio
Buy-Side CLM Features Checklist
Use this checklist tool to evaluate vendors across the eight capabilities that matter most for buy-side contracting, from ERP integration and intake automation to AI analytics and post-signature obligation management.
Key takeaways:
- ERP and P2P integration enforces negotiated pricing at the transaction level—eliminating leakage before it happens
- Smart intake and preferred supplier enforcement stop maverick spend before a contract is ever created
- Clause libraries with fallback positions let teams negotiate within guardrails without legal review on every redline
- Post-signature obligation tracking and AI risk scoring are what separate a strategic CLM from a static document repository
