At its foundation
Your internal clients rely on you to maintain operational efficiency and protect them from risk. But when it comes to drafting, reviewing, and negotiating contracts, too often you’re stuck with old software and outdated practices.
This leads to problems that expand beyond the legal department and into the foundation of the company itself.
A new ebook shows real-life solutions to 4 of the most common contract management problems.
Do you face any of these problems? If so, check out this ebook to see how other high-powered organizations are solving them.
1. There just isn't enough time in the day
Your internal clients keep telling you they expect you to do more with less. But the contract management process is simply too time-intensive. It feels like if you were to do things any faster, quality would suffer.
It doesn't have to be this way. Every step of the contract lifecycle can be accelerated and improved, with the right tools and techniques.
Within this ebook, learn how one major software company reaches agreement 10x faster than before.
2. Collaboration creates bottlenecks
Collaboration sounds great in theory, but in practice it can feel like a maddening series of bottlenecks. As matters become more complex and the stakes rise, more people need to be involved. But every time someone else comes in to draft, revise, or review part of the contract, the process screeches to a halt.
Contracts are, by nature, about cooperation between different groups of people. Is it possible to fully collaborate, but also reach agreement faster and with less friction?
Yes. New tools and techniques are making collaboration easier and more streamlined. Read the ebook to see how one international development organization sped up their close rate by 50%.
3. Legal professionals are stuck doing rote work
It's challenging to negotiate contracts. But while you're in the thick of finding agreement over warranties and deliverables, you're doing the kind of high-powered work that your legal training prepared you for.
That's not the case with rote work. Spending hours doing mind-numbing data entry or painstakingly hunting down the right sections of old contracts to copy and paste—that's a misuse of your time and an affront to your experience. Not only does it drag down the process, it also increases the risk of errors in the final document.
New tools can automate rote work and free legal professionals to focus on the work that really moves the needle. Learn how a top-10 accounting firm uses automation to renew more than 90,000 contracts in a year.
4. Increased complexity and higher demands breed chaos
Regulations are growing more complex. Business is becoming more technically advanced, international, and interdisciplinary. And at the same time, your internal clients are raising their expectations.
This is a perfect storm for chaos. In-house teams are confronting missed deadlines, dropped tasks, and increased difficulty in keeping track of everything that’s happening. Compliance and risk mitigation suffers.
Only state-of-the-art tools can address the sheer scale of this problem. Learn how a leading global search company increased contract renewals by 34% by using new tools to tackle complexity.
You're under tremendous pressure to deliver more with fewer resources. But you're not alone. New tools can help you master the complexity, streamline your work, and become an even greater asset to your internal clients.