Procurement Magazine March W1 2026 | Page 124

LATEST FIGURES

80 %

of procurement teams use AI during contracting workflows, rating average impact at 8.3 / 10 across compliance, insights and lifecycle tasks

77 %

specifically use AI for“ tracking and managing supplier contractual commitments” like SLAs, discounts and performance obligations

8.8 / 10

highest benefit score: monitoring contract compliance( especially Technology sector leaders)

9.2 / 10

contract insights generation rated highest by Finance( revealing risks, savings opportunities from existing agreements)

8.3 / 10

expiration / renewal date tracking delivers strong value for Manufacturing( prevents autorenewal traps)

FOCUS AHEAD

Scale compliance monitoring – Tech’ s 8.8 / 10 success proves universal potential for significant risk reduction
Standardise commitment tracking – Build unified dashboards showing all supplier obligations company-wide( 77 % adoption)
Automate expirations – Manufacturing’ s 8.3 / 10 impact prevents revenue leakage from forgotten deadlines
Expand contract insights – Finance’ s 9.2 / 10 proves existing contracts hide massive savings opportunities
Full lifecycle automation – Move beyond monitoring to automated intake, negotiations, and amendments