Commercial contracts are often unmanageable in terms of volume and costs.
From managing high-volume contract work to navigating complex regulations and rapid tech advancements, in-house legal teams are stretched beyond capacity. How can organizations transform the legal department from cost-center to business enabler?
New survey research from KPMG in the US, conducted by Forbes Insights, examines the challenges of today’s legal operations and the potential for managed services to unlock efficiency and growth — helping to boost productivity, cut costs and scale data-driven processes.
Key insights
Survey highlights
Contract management challenges
Commercial contracts work occupies an excessive amount of legal team time and resources. Regulatory challenges (84%) and complex governance structures (62%) are the top contract management pain points for organizations.
What is your organization’s budget for contracts managed services support?
What are the top challenges experienced in managing contracts in your organization?
Contract management approaches
Managed services can transform contract management and unlock strategic value.
There is room for improvement in how legal teams manage contract inventories, leverage data and technology, and support enterprise business goals. Legal managed services present an opportunity, delivering scalable resourcing and tech-enabled processes to unleash efficiency and insight.
What is the primary way nonlegal executive leaders at your organization view the role of legal in contract management?
Survey methodology
Forbes Insights, in association with KPMG in the US, surveyed 150 C-suite executives in January and February 2025.
Respondents included chief legal officers, chief financial officers, chief operating officers, chief procurement officers, and chief technology officers. Respondents represented organizations headquartered in Germany, the United Kingdom and the United States across automotive, banking and finance, building and construction, energy and natural resources, healthcare, industrial manufacturing, insurance, life sciences, and pharmaceuticals. Respondents came from organizations with at least US$500 million in revenues in their most recent fiscal year, 75% of which were public and 25% were private organizations. All organizations budget $26 million or more for contracts managed services support.
Unlocking efficiency and growth
How legal managed services can transform your business
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