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Managing contracts probably isn’t what motivated you to start your legal career. But – even if enforcing your terms isn’t the most exciting part of your workday – it’s understandably important. And a task you likely spend a lot of your time doing.
Considering the average agreement takes a minimum of 20 days to be written, negotiated, and signed off on, inefficient contract design can slow your company’s sales processes to a crawl. Not to mention cost your team significant money, too.
eBook Download: The Economics of Contract Design
If you’re responsible for reviewing every last agreement that goes out the door, inefficient contract design can also negatively impact your collaboration with other departments like sales that are integral to your terms management process. So, how can you use contract design to save your business money, bring in more revenue, and build a more satisfying experience for everyone involved?
With more and more of your agreements moving to the online space, we’re willing to bet a good deal of your traditional processes can no longer keep up with the pace your sales velocity sets. Today’s eCommerce buyer experiences prioritize speed, accessibility, and convenience – meaning slow-moving contracts create speed bumps in your business that can be difficult to overcome.
WATCH: The Economics of Contract Design
Going forward, legal experts like you need to help their organization invest in modernized contract design tools and mechanisms that enable the business to meet online buyers when and where they’re most likely to make a purchase. And that’s not something a Contract Lifecycle Management (CLM) solution can deliver.
In order to experience the legal enforcement benefits of a more efficient contract design process, you need to understand the economics of your current situation, where your agreements are costing you the most, and how to correct these scenarios.
In this eBook, you will learn:
Download our eBook, The Economics of Contract Design!