Organizations expect their legal teams to mitigate risk—without overspending.
But they can’t cut corners. Contracts are inherently risky—noncompliance with terms can open the business up to liability. And the risk of noncompliance goes up when contracts don’t adhere to the business’s standard terms. Meanwhile, organizations are losing out on deals due to delays and inefficiencies in contracting.
Businesses need a way to cost-effectively streamline the initial contract review and redlining process so they can smoothly negotiate their desired terms, avoid the risk of non-standard terms and noncompliance, and move on to the next deal.
That’s what digital playbooks do.
A playbook provides a clear statement of an organization’s standardized, preapproved contract terms against which any new contract can be compared.
A digital playbook goes further by enabling automation of the contract review process. With a digital playbook, organizations can compare new contracts to industry and internal standards and receive a fully redlined and annotated version in just minutes.
Digital playbooks are the key to creating consistency across all contract negotiations—saving time and money while reducing risk.