Contracts Management is Pattern Recognition + Admin
Based on a study I found, the average contractor loses 9% of their revenue to bad contract management.
Which is absolutely insane when you think about how easy it actually is
Contract management is patent recognition and administration
Sure when you get into a dispute with your clients or are making complicated claims, there is a lot more to it than that. But the day-to-day discipline of maintaining a site diary, making claims on time, and all together keeping good records and following contract processes is just not that hard.
A lot of it is repetitive manual tasks that are perfect for AI
Here is my outline of how to apply AI to construction and contract management
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Tim Fairley
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Contracts Management is Pattern Recognition + Admin
Construction Contractors Hub
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