Most procurement leaders think about contracts a lot: contracts are critical in guiding supplier negotiations, monitoring obligations, and building pricing structures. But optimizing the contract lifecycles, tracking renewals, and ensuring compliance can quickly become overwhelming, especially when teams don’t have the right methods to do so efficiently.

The evolution of AI technology has been exciting and extremely prevalent. It’s why more organizations are turning towards solutions like AI-powered contract management. Simply put, AI empowers your procurement teams to make smarter, data-driven decisions, optimize costs, and work more productively to maximize value from every agreement. These tools have made massive improvements across three key procurement challenges: monitoring, managing, and monetizing

Contract Challenge #1: Aligning on Supplier Metrics Efficiently

Strategic sourcing teams and businesses often struggle to find the best and up-to-date metrics, terms, pricing, and compliance that match the requirements. A Deloitte survey found that 56% of procurement managers relate to this issue — one that results in overpayments and inefficient agreements. With inaccurate insights guiding supplier selection, teams miss negotiation opportunities and end up with unfavorable contract terms.

Monitoring: How AI Improves Supplier Selection Processes

AI-powered contract management solutions, like Intelizen, uncover and monitor critical details that might otherwise have been missed. With AI, your team instantly gains access to the latest supplier terms, pricing, and compliance updates. Even better, that data is analyzed to help you make better-informed decisions, whether you’re comparing a contract to past agreements from the same supplier or evaluating competing offers. Ultimately, this proactive monitoring helps teams negotiate stronger terms and secure the best agreements possible.

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Contract Challenge #2: Reduced ROI From Poor Contracts

Procurement inefficiencies come with a large and unfortunate price tag: in part due to poor procurement orchestration and outdated contract lifecycle management (CLMs) or lack of these tools and processes. Without the right methods to effectively organize, track, and analyze past purchasing agreements, procurement teams risk losing valuable savings and business impact — often without realizing.

Procurement teams without the right tools risk losing over $1.5 million annually due to missed contractual incentives.
- Deloitte, 2025

Monetizing: How AI Helps You Make Money From Contracts

AI is crucial for helping procurement teams capture every savings opportunity and secure better agreements. Intelizen’s advanced contract analysis, for example, uncovers hidden insights, offering teams visibility into average production costs from past contracts and potential revenue opportunities. In other words, modern AI tools free up resources to be reinvested where they matter most.

Contract Challenge #3: Simplifying Contract Compliance to Reduce Risk 

No one enjoys sifting through hundreds of scattered files, spreadsheets, and outdated systems to find contract details — especially when poor visibility leads to serious business risks. Yet, for many procurement teams managing thousands of contracts, this is the daily reality. When contract data is disorganized, teams risk missed deadlines, financial leakage, overpayments on goods, and legal liabilities. Without a centralized system to manage and monitor supplier compliance and other key terms, these challenges go beyond operational inefficiencies; they threaten financial stability and increase legal risk.

Managing: How AI Enhances Your Ability to Manage Contracts

Intelizen is designed so that all your contracts, terms, and obligations are centralized in one system. This means all your workflows are easy to find and automated, eliminating those tedious manual tasks or endless email back-and-forth. Most importantly, it leads to improved communication with sales and legal teams, helping procurement teams meet deadlines, reduce risks, and manage contracts more efficiently.

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Contact us to bring order to your procurement team’s contract chaos. Never risk another key obligation or missed payment!