One of the most crucial sources for the decisions your business makes is its contracts. But what happens when those contracts are inaccessible or can only be viewed in segments, depending on the department involved? Panic sets in.

That’s what happened when widespread lockdowns first started occurring across industries in March of this year due to COVID-19. Suddenly, remote working was not a flexibility option offered as a perk to employees. Remote working became mandated. Being disconnected from the office meant processes would become even more fragmented than they already were. The Survey of Business Uncertainty, conducted by Stanford economist Nicholas Bloom in conjunction with the Atlanta Federal Reserve and the University of Chicago, found that only 51% of survey respondents—mostly managers, professionals and financial workers who can carry out their jobs on computers—reported being able to work from home at an efficiency rate of 80% or more. And approximately 35% reported that their internet connection was not reliable enough for effective telecommuting.

Disruption in Remote Management of Contract Lifecycle Management