Closing a Deal Should Not be Complicated
The buyer agrees to the sale and passes along their boilerplate contract. The sales team is ready to ring the bell. But that excitement quickly turns to frustration when legal review slows the process to a halt.
These routine contracts are the lifeblood of your company. They are the source of both revenue and growth. And your company’s success is directly related to how quickly you are able to complete contract review and approval.
As the CEO, CFO, or COO of the company, looking at routine contracts is not the highest and best use of your time. Even in-house lawyers are looking to take routine (but important) contracts off their plate.
But using an external law firm is expensive and adds time. Just look at the convoluted process a typical law firm goes through to complete a sales contract.
It should come as no surprise that it takes a law firm an average of 18-30 days to review and close simple sales agreements
Your company’s success is directly related to how quickly you are able to complete contract review and approval.
The problem today is that the process is not built for growth. Each side must manually review, edit and exchange red-lined contracts in seemingly endless iterations. Each step eats up time, delaying or even killing the deal. Because in the time it takes for a law firm to finalize the contract (1) people change, (2) budgets change and (3) priorities change. We’ve all been there.
Finding the Right Balance
So we set out to build a contract review and negotiation solution that was optimized for closing deals quickly. The challenge was finding the right balance between artificial intelligence and human intelligence.
As the CEO, CFO, or COO of the company, looking at routine contracts is not the highest and best use of your time.
Our award-winning AI technology quickly and accurately identifies clauses that require attention which speeds the contracting process. The technology also reviews thousands of contracts daily, giving teams real-time visibility over market trends including changes to pricing and critical terms. This is reflected in our data-driven templates which removes friction in the negotiation process. Data-driven mark-ups suggest legal positions with the highest chance of closing which also speeds up the contracting process.
While our AI technology does the heavy lifting, it is not great at thinking “out of the box” or making compromises. And oftentimes, closing a deal requires both. This is why we keep lawyers in the mix. Our team of experienced commercial lawyers are available 24/7/365 to provide legal advice and negotiate your contracts to close.
Our hybrid, data-driven approach reduces time to close by up to 73%.
Superlegal is purpose built to work with your sales process, not against it. And rather than creating a feeling of frustration, sales teams have a “partner” dedicated to closing deals, not killing them.