1. Draft contracts a lot faster
By utilising a standardized contract template to establish business agreements, instead of drafting contracts, like NDA's from scratch each time, you speed up the contracting process by 50%, meaning contract drafting takes hours instead of days or weeks. Standardization also minimises the time spent reviewing individual contracts, as templates can be used repeatedly to meet your company's requirements.
2. Smoother negotiation phase
These templates, which are designed for various roles and stakeholders, also simplify the editing and negotiation process. As a result, you can benefit from redline solutions that enable them to easily monitor and adjust changes. This enables decision-makers and project stakeholders to confidently draft contracts that meet the needs of all parties involved.
Having to draft custom contracts for each business agreement can substantially raise the contracting procedure cost. With standardized contracts, every contract is drafted efficiently and the need for custom contracts for each business agreement can be eliminated. The expenditure on external legal advisors can be minimized as legal wouldn't have to review each contract. This way, legal can devote more time to high-priority contracts, thereby contributing to a reduction in overall costs.
In the traditional, paper-based contract process, it is easier to interfere with contract terms. Such actions can damage a company or employer's reputation. And customers may end up signing unfair contracts that do not serve their interests. Contract templates ensure consistency through steady form and structure, allowing your team to quickly find essential aspects within a template. You can easily adapt the terms of standard contracts to new business or client needs.
5. Increase flexibilityContract templates allow teams from HR, Legal, Procurement, Finance and Operations to customise the content of templates according to their business needs. The ability to use similar templates for different clients ensures seamless business operations. Teams can scale their contracting processes by adapting terms and conditions to their current business needs.
At Contractify, we don't start or stop at easy contract drafting online. Our contract management platform provides complete control over all your contracts and documents and allows you to manage the entire contract lifecycle in one convenient online tool.
In 80% of organizations, it takes forever to get contracts and documents through the entire lifecycle. We help you solve this problem with:
Approval & signing flows to get contracts reviewed and signed in under 1 day.
Automated tasks and notifications to have full control over contract follow-up tasks.
Centralized contract libraries with summaries for a clear overview of all contracts, related documents and communication.
User management and permissions to keep team members aligned on one shared platform.
Personalized dashboards and reports perfectly suited for gaining insights into the large amount of contract data.
Contractify started off in 2015 by consulting organisations on how to set up their contract management process. It soon became obvious there was a need for a tool to centralise and automate contract management. That’s when Contractify’s founders, Steven Debrauwere and Herlinde De Buck translated their years of practical experience into a cloud-based contract management solution.
Contractify's user-friendly automation platform provides everything an organisation needs to (re)gain a grip on its contracts.
Explore the tool & discover your favourite feature...for free!