It’s time for your sales team to stop waiting for Legal to review and sign off contracts manually.
Here’s a scenario you are probably very familiar with:
Your sales team worked hard to finalize a golden deal. They reached out to the right prospect, gave the perfect product demo, and closed the deal’s terms. All you have to do now is sit back and wait for Legal to review and approve your contract manually.
But as always, Legal’s priorities are different than yours. They are swamped with tons of other tasks and have a hard time reaching your sales agreement. This arrangement creates an endless bottleneck that prevents the sales team from crushing their goals as quickly as possible!
Does that sound familiar? Such scenarios should be a thing of the past for your company!
That’s where Superlegal’s AI contract review comes in! It keeps up with the speed and agility you expect in every part of your sales agreement review.
The Role of AI Contact Review
You may be wondering how Superlegal’s AI-powered contract review will get you to the promised land of crushing your sales goals.
With Superlegal you will be able to:
- Drive faster Legal negotiation.
- Gain a positive prospect experience.
- Avoid Legal bottlenecks while remaining independent with your contract review process.
- Close your deals faster while assuring their quality.
- Empower your sales team!
What Exactly is AI Contract Review?
Contract review refers to the variety of tasks that legal professionals perform on agreements to assure quality. It includes examining documents and several other actions like ensuring due diligence, redlining according to the company policy, profitable negotiation, third-party review, etc.
In short, all the boring legal stuff you don’t need to worry about…
And, doing so manually is just a problem waiting to happen.
The manual routine contract review process is time-consuming. It costs your company a lot of money, whether it was done by an in-house legal team or outsourced to a law firm.
The Superlegal AI-Powered contract review platform is the solution.
It will allow your sales and legal teams to enjoy the benefit of accuracy and high efficiency without reviewing the contract manually. Most importantly, it will streamline your sales process and remove the bottleneck the legal review is creating.
Top 5 Ways AI Contract Review Will Help You Crush Your Sales Goals
#1: Drive faster Legal negotiation
Today’s competitive sales environment requires increasing efficiency and speed. As a result, sales experts might lose a deal just because of prolonged contract review time. This setback shouldn’t be so after overcoming the volatile negotiation process.
Reviewing contracts using an AI-powered platform such as Superlegal accelerates contract finalization. Mainly by reducing the turnaround time of contract review from a few days down to same-day approval! It can also be as fast as four hours!
Bottom line: You’ll close deals and hit the office GONG much faster!
#2: Gain a positive prospect experience
Closing deals is the main objective of anyone in sales, but as you know, a sales process can be complex, exhausting (especially the parts that are not up to you), and even put your sale at risk if it takes too long or if it gets too annoying for your prospective client.
The expectation you have during your sales process should not skip Legal. Everything is your experience.
If Legal doesn’t reply on time, you might lose the momentum or, even worse, lose the deal.
Long Demos, endless emails, and zoom meetings with different stakeholders can all be a part of your sales process. But the longer and more complicated it gets, the higher your chances of losing the deal.
As much as you hate having a complicated sales process, your prospect probably hates it more. But, frankly, any delay and your competitors may swoop in and deliver faster service.
Make it hard on them, and you will lose the deal!
Keep in mind that when you are selling a product or a service, the prospect expects a fast and easy process. So, if you are part of a company claiming to be disruptive and innovative, your contract process should align accordingly. You want your prospects to have the easiest possible buying process, and reviewing contracts using AI is a major step towards that.
Bottom line: Negotiating and signing a deal with AI contract review will grant your prospects a positive, techy and quick process to impress them!
#3: Avoid Legal bottlenecks while remaining independent with your contract review process
Besides being a huge time-consumer, reviewing contracts usually create a high level of stress, with the “Did you finish the review yet?” type of emails, which Legal hates getting, and sales hate awaiting a reply.
But how else will you be able to get the status of your deal’s contract review?
As time goes by, you want to make sure Legal is keeping track of the agreement while assuring the quality of the contract and mitigating risk.
An AI-powered review platform will help your team avoid this Legal bottleneck.
With Superlegal, your sales team members can just upload their contracts in no time and get updates on the contract status with a click of a button. Of course, your legal team can stay updated and review the AI if they like.
The reviewed contract will quickly get back to you and have everyone focus on what’s important: Close the best deal possible.
Bottom line: Using an AI-powered contract review platform will streamline your process and make sure legal is not a bottleneck for sales.
#4: Close your deals faster while assuring quality
Let’s say it out loud (as we already did a bunch of times): ‘Reviewing contracts is a routine, slow and expensive process!’
Therefore, it often creates a bottleneck in your go-to-market strategy.
Contract review must rely on your company’s set of legal policies, or what we at Superlegal call a “playbook.” Its purpose is to standardize and streamline recurring legal processes, not only for the sake of the order but al o to ensure consistency.
Superlegal allows you to set up your playbook, so you don’t need to check your company’s policy every time.
Unlike other solutions, which can take months to deploy, you can enjoy Superlegal’s AI contract review with just a few easy steps.
And what about risk mitigation? AI contract review marks up missing clauses, ensuring accuracy and consistency, and gives sales and legal teams an “eagle eye” to spot all the vital clauses.
Bottom line: You’ll not only close deals faster, but also close better deals with no mistakes, assuring the quality and consistency of the contract review.
#5: Empower your sales team
The easiest benefit of having an AI contract review solution in place is that it frees up the sales team’s time to deal with more high-value, impactful work, the kind of work they signed up for, to begin with.
There are numerous steps between obtaining a prospect and signing a contract that requires the involvement of many people.
So there can be so many emails and different variations of the contracts going back and forth.
Improving and streamlining your contract review process with AI can prevent the conservation of human resources in the sales department. The extra time enables them to focus on what they are good at – Sales.
Bottom line: Your salespeople will focus on what they love and were hired to do.
Bonus
At Superlegal, the AI-based contract review is not necessarily a 100% mechanical process led only by the “machine.” Instead, the automation is done by a perfect combination of AI and experienced lawyers, who make sure things are done according to your company’s legal policy.
Doing so with AI is a faster, cheaper, and more accurate process. Not mentioning AI never goes on vacations or long lunch breaks, so it is always at your service.
Summary
As technology takes a vital part in streamlining the day-to-day work processes and maximizing the outcomes worldwide, salespeople, as well, should join the game. The sooner, the better.
Embracing an AI contract review solution will present a faster and more effective sales flow.
Most importantly, your sales team will CLOSE MORE DEALS FASTER.
Isn’t it what we all wish for?
Want to see how AI contract review can help you close deals faster? Click here to see it in action.