The robots aren’t coming for lawyers’ jobs. But something more interesting is happening: companies are realizing they don’t need lawyers for most contracts in the first place.

I’ve spent the last decade watching how small and mid-sized companies handle their contracts. What I’ve discovered might shock you: 65 percent of our 1,500+ customers don’t have a legal team at all. Not a single lawyer on staff.

This isn’t just my observation. A 2023 Thomson Reuters study found that 76 percent of legal departments are now outsourcing routine contract work, with many companies shifting contract ownership to operations and finance teams. The transformation is real.

And here’s the thing—these companies aren’t struggling. They’re thriving.

Contracts aren’t legal documents

Let’s be honest about what a contract really is. It’s not a legal document. It’s a business process.

Whether you buy something, sell something, or hire someone, there’s always a contract in the middle. It’s how you start a relationship. The legal aspect is just one small part.

This isn’t new. What’s changing is that companies are finally acting on this reality.

When we started Concord, contracts were “legal’s problem.” That was the default assumption. But over the past five years, we’ve watched a massive shift. CFOs and COOs are taking ownership of contracts, treating them as operational tools rather than legal handcuffs.

This trend is backed by data.  KPMG’s 2023 Contract Management Survey found that responsibility for contract management has shifted dramatically, with finance and operations now controlling the contract function in 57 percent of organizations—up from just 35 percent five years ago.

Why? Because it makes sense. CFOs manage how money moves in and out of a company. Contracts govern those movements. The connection is obvious once you stop viewing contracts through a purely legal lens.