Challenge:
The existing contract processes using Word and Excel were manual, inefficient, error-prone and slow. Contract reviews by external counsel delayed closing deals and created repeat reviews of legal content that was already available in previously negotiated contracts.
Solution:
Shareforce implemented a centralised clause and template management platform, creating a single source of truth. Legal controls all templates and clauses with version tracking, sales uses pre-approved, automated templates to generate contracts themselves.
Results:
- Harmonised, automated pre-approved service contracts
- Self-service for sales reducing contract cycle times and free up legal time
- Substantial reduction in external legal counsel costs.