Without adequate contract automation (aka contract assembly or document automation), creating a contract can be an uphill battle. Contracting processes are typically full of complications – the road is not always paved. And ‘legal’ the cyclist everyone has to wait for. Many inhouse counsel worry that business transactions are not even agreed in a contract (so no limitations liability or no adequate remedies agreed).
Sometimes deal momentum is lost, due to slow contracting or a transaction even fails to reach the finish. Most parts of contract creation are fact-finding, can be delegated, allow process optimisation and risk management to be automated. With contract automation, response times turn to zero, you will sprint at deal-momentum.
But why is it like this? It did not seem that complicated:
Your (internal) client requested a contract and needs to include a special clause …and you do not have the time now to ask your colleagues for a sample clause, to search your model contracts for it, and to sit down and tailor it to the request. You believe it will still take several hours. Such request may easily survive in your inbox for two or three weeks.
Or: you need to draft a complex agreement, and from your model Word-document, it still takes considerable time to tailor it to what is needed. A large part, however, is copy-pasting from examples and model contracts, and could have been standardised.
With advanced contract automation software, processes are streamlined and contract content consistent and controlled: users answer a user-friendly questionnaire and generate a tailor-made first draft agreement, based on their own models and templates.
Control contract creation by integrating Weagree with SharePoint, CRM and other applications, with advanced approval workflows and plug in e-signing. Cycling is fun. Try it yourself.
For detailed information, including as regards technology, see the frequently asked questions (FAQ) section or contact us. We have created a demo video, which gives you a first impression of Weagree’s contract creation application.