22 Dec 2022

Heading into 2023 with a beacon of hope

As we approach the end of the year, I wanted to take a moment to express our gratitude and wish you and yours a very happy holiday season.

Even though 2022 is supposed to be marked by physical reunions, our world often felt more divided than ever. But even in a time characterized by its divisive nature, some important causes like peace in Ukraine and climate change brought the world together in a way we haven’t seen in a long time. It makes us look at the future with a beacon of hope and determination.

In the corporate world, however, the year brought some unprecedented challenges including unimaginable sanctions on a major superpower, record-high inflation, and corresponding regulatory tightening as well as shortages of critical commodities like energy. The situation is such that even some of the world’s wealthiest nations are being forced to request industries to reduce energy consumption.

All these events beyond our control made it significantly more difficult to avert risks and ensure business continuity. As a result, many businesses reassessed their contract management strategies, questioning whether traditional methods are still sufficient for the times we live in. Your contracts, after all, define every business relationship and are therefore key to managing risks and opportunities.

Amidst these challenges, we were pleased to be able to support our clients and make a positive impact on their success. We onboarded over a dozen new enterprise clients who have benefited from smartContract CLM by effectively managing their business relationships and contracts, allowing them to better navigate the year.

Innovation

This year, we made significant progress on the AI front, which has enabled us to provide unparalleled insights by excelling on both the document and portfolio level evaluation, and introducing the capability to analyze complex and lengthy documents. These insights have allowed our clients to make informed decisions and contribute to their success.

Additionally, we continued to invest in the latest technologies to further improve our solution, allowing us to offer even more options and customization, better encryption and speed to our customers. Our innovative approach to CLM implementation, which we have now turned into a full-scale methodology called Impact First, has been instrumental in helping our clients to effectively implement the solution and address some of the most pressing challenges like change management, process maturity, and unclear ROI.

New Pursuits

In addition to our technological advancements, we were pleased to achieve a number of major milestones this year that have helped us to better serve our clients and expand our reach. We made the strategic decision to open an office in California, United States, expanding our reach and enabling us to better serve our growing customer base on both sides of the globe. This move has helped us to better support our clients and build relationships with new customers.

In addition, we forged strategic partnerships with leading IT services and consulting companies as well as law firms to enhance our value proposition and tap into new markets. Furthermore, our company was selected to participate in a prestigious in-person transformation program by Stanford University, where our team will share their expertise with other industry leaders and continue to advance our ability to better serve our clients.

Overall, while 2022 has not been without its difficulties, it has also been a year of resilience, collaboration, and progress. Throughout the year, we have supported each other, encouraged each other, and stood by each other. We look forward to continuing our journey together with empathy and a drive to go the extra mile to support your endeavors.

Thanking you and once again wishing you and yours a very happy holiday season!