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The digital transformation of contract management has been rapidly accelerated in recent years, championed by sales, marketing, HR, finance, and recruitment. It's time for legal teams and contract processes to benefit from the same level of digital transformation provided by digital contracting.
Digital contracting software frees up legal professionals to focus on high value tasks by automating repetitive manual processes. By integrating with other business productivity tools such as Office365, business colleagues are empowered to self-service on contract tasks such as requesting NDAs and negotiating standard contract terms.
To modernise legal workflows, demand for Contract Lifecycle Management (CLM) solutions is growing rapidly as businesses strive to gain control over the entire contract management process. CLM solutions address the key challenges of time, cost, and quality by optimising digital processes.
Some CLM solutions can be loaded with unused features, be challenging to implement, and require vast amounts of training to be useful, creating friction for end users. Digital contracting software focuses specifically on a set of core CLM features that will enable operational efficiency, collaboration, and management without the technical overhead. With digital contracting, you reduce the volume of repeatable admin work, speed up the negotiation process and gain visibility and control of contracts.
Unlike some CLM vendors that promote changing existing ways of working, Summize takes a different path. We focus on adoption and ease of use, to create a unified workspace where business and legal users can work effectively together, directly in the tools you already know and love.
Businesses are governed by contracts, across sales, procurement, HR, marketing and more. Digital contracting integrates contract processes into familiar tools to maximise adoption and reduce friction. Summize's digital contracting software centralises contract requests though Microsoft Teams and Slack, collating a central legal task list within the Summize platform.
From sales, to HR and marketing, digital contracting is designed to support all types of commercial contracts, across the full contract lifecycle. Create, negotiate, review, and store your contracts, making the data inside them useful and usable.
Missed renewals cost time and money. Digital contracting unlocks intelligent contractual information, allowing you to make better informed decisions and understand your business. With Summize's digital contracting software, you can automatically extract key dates and add them to your calendar, with built-in email reminders. Never miss a key date again.
Tech heavy tools and poorly designed Ul slows down businesses and causes bottlenecks in the process. Summize's digital contracting software is simple to use and manage, with a Ul that receives rave reviews from our clients and requires notechnical expertise to manage.
Businesses run on contracts. HR have employment contracts, Marketing use supplier contracts, Sales teams need MSAs - the list goes on! And better management across the contract lifecycle can reap significant rewards.
Digital contracting connects people, data, and processes to accelerate contract cycles and creates smart insights and better business decision-making. The Contract Analysis Engine by Summize combines both humans and AI-powered technology to digitalise legal processes.
Additional benefits:
Contracts are time-consuming and legacy manual methods are time-consuming, preventing legal teams from being true business leaders. Managing contracts across the full contract lifecycle is challenging when legal must deal with multiple live contracts simultaneously. This isn't uncommon - with most large businesses managing 19,000 contracts each year on average (EY).
From drafting to signatures, Summize brings intelligence, speed, and consistency to your digital contracts with optimised and automated workflows.
The Summize Contract Analysis Engine combines the best of humans and AI technology to digitalise the legal process. Allocate and track contract reviews with a no-code automated workflow within the tools you already use, accelerating your contract reviews by 85%.
The powerful Summize data engine gives businesses access to better decision-making and actionable insights; summarising risk and highlighting potential cost savings across every contract, while accelerating revenue opportunities.
Centralise contract requests for business users through Summize's Microsoft Teams and Slack integrations. The Q&A-style chatbot allows for a first pass in under 5 minutes. Create a frictionless experience for business users and maximise adoption.
Contracts are found across every team within a business, from HR to Marketing, but alongside Legal, Sales teams work with them almost every day.
Contracts sit at the centre of every business relationship - they define a business's path for growth, revenue, and profit. So, inefficiencies in the contract lifecycle cause a delayed path to revenue. Digital contracting facilities the contract lifecycle and reduces these inefficiencies by establishing a relationship between the stakeholders, existing processes, and data to accelerate the contract lifecycle.
Digital contracting by Summize unites legal teams and business stakeholders to accelerate the entire contract lifecycle.
Summize acts as your legal digital assistant, allowing you to centralise contract requests through Microsoft Teams and Slack with built-in automated triage and recorded SLAs for faster contract lifecycles without the risk. Business users can create a contract in under 2 minutes.
Summize's built-in insights feature and natural conversation intelligence provides quick and easy answers to typical questions related to a specific contract. This process can still be controlled and governed by the legal team, making contract creation smarter and accessible for every user.
Summize's Q&A style chatbot guides you through contractual processes, directly within Microsoft Teams and Slack.