What is digital contracting?

Digital contracting is a process that transforms the entire contract lifecycle into a digitalised and collaborative workflow. It facilitates the contract lifecycle process by connecting the dots between business stakeholders, processes and data.

Faster, smarter digital contracting for business

Digital transformation of contract management

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 frees your legal teams and empowers the business

Digital contracting software helps legal professionals by automating repetitive manual processes, allowing teams to focus on high-value tasks. Plus, by integrating with other business productivity tools such as Office365, Microsoft Teams and Slack, business colleagues are empowered with intelligent technology that guides them through contract processes without the legal jargon.

The role of Contract Lifecycle Management

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.

Choosing the right digital contracting software

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.

Why use Summize's digital contracting software?

Unlike some CLM vendors that promote changing existing ways of working, Summize takes a deliberately different approach by embedding contract workflows into existing tech stacks, including Microsoft Teams and Slack. 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.

This game-changing user experience increases user adoption, speeds up contract cycles, measurably improves the efficiency of your contract lifecycle and mitigates risk.

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Digital contracting software benefits the entire business

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The key benefits of AI-powered digital contracting software

Your digital legal front door

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 into existing workflows, including Microsoft Teams and Slack, to speed up contract processes and enable self-serve behaviours throughout the business.

Any contract, one process

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.

Actionable insights

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.

Maximum adoption

Tech heavy tools and poorly designed Ul slows down businesses and causes bottlenecks in the process. Summize’s user experience within its digital contracting software is simple and intuitive, requiring minimal user training and slotting seamlessly into existing ways of working.  

Further benefits of digital contracting

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 the end-to-end contract lifecycle, providing users with meaningful analytics and data for smarter business decision-making. The Contract Analysis Engine by Summize combines both humans and AI-powered technology, including ChatGPT, to digitalise legal processes.

Additional benefits:

  • Shorter contract lifecycles
  • Faster revenue generation and shorter negotiation periods
  • Mitigated risk across the organisation
  • Improved collaboration between in-house legal teams and business colleagues
  • Smarter business decision-making
  • Increased efficiency across contractual processes
  • Enhanced and automated workflows
  • Accelerated contract management and analysis capabilities
A contract with a sticky note that says sign here

Digital contracting for in-house legal teams

Contract processes are traditionally manual, complex and almost always lacking understanding, 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).

Summize is the world’s first Integrated Contract Lifecycle Management solution. It makes digital contracting processes simpler and smarter, from contract requests to creating a repository. Summize brings intelligence, speed, and consistency to your digital contracts with optimised and automated workflows.

Accelerated contract reviews

Summize speeds up the end-to-end contract lifecycle by automating tasks that were traditionally manual. Legal teams can review contracts in under 2 minutes and negotiate directly from Microsoft Word 85% quicker.

Smarter business decision making

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.

Optimised efficiency

Centralise requests and intake via Teams and Slack, enabling self-service contract creation in a unique Q&A chatbot experience. In-house legal teams can track, triage and manage requests from across the business, resulting in huge time savings and efficiency gains.

Digital contracting for sales

Contracts are found across every team within a business, from HR to Marketing, but alongside Legal, Sales teams work with them almost every day. Research shows that 80% of B2B Sales teams process over 500 contracts each month, but 59% of Business Development professionals state that inefficiencies in their contracting process resulted in lost opportunities. So it’s essential to get your contract solution right.

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 lead to slower sales cycles, friction, bottlenecks, and delays between legal and the rest of the business

Digital contracting facilities the contract lifecycle and reduces these inefficiencies by establishing a relationship between the stakeholders, existing processes, and data to accelerate the end-to-end contract lifecycle.

Digital contracting by Summize unites legal teams and business stakeholders to accelerate the entire contract lifecycle.

Faster revenue generation

Summize centralises contract requests through Microsoft Teams and Slack in a simple Q&A experience. Business users can create contracts using approved legal clauses and send requests, which are automatically tracked and analysed.

Shorter contract cycles

With Summize's intelligent solution, contract creation and review cycles are faster, more consistent and more efficient. Business users can create contracts in under two minutes and complete a first pass review in less than five. Controlled & governed by legal, contract workflows are accessible to the wider business.

Self-serve capabilities

Summize's self-service contracting directly within Microsoft Teams and Slack facilitates faster negotiation cycles and shorter contract cycles, allowing commercial users to close sales deals faster, without legal intervention.  

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