Before working with Superlegal, Anodot’s CFO processed every NDA manually. The contracts were fairly routine and it did not make business sense to send them to an expensive law firm. When she did encounter unique or unusually complex agreements, she would engage an external law firm, which was expensive and had a 2-3 day turnaround time.
As the company grew, her time was needed for more high-value work, including fundraising, budgeting, and operations. She had less and less time to give to routine contract review. “The company was scaling at an incredible pace,” said Anodot CEO, David Drai. “We needed a quick, easy and cost-effective way to review our sales agreements. It also had to scale.”
“We needed a quick, easy and cost-effective solution to review the growing volume of sales agreements. It also had to scale.”
The CFO learned about Superlegal from one of its customers. If Superlegal could really remove the burden of manual contract review and speed up the sales process, it was a no-brainer. Superlegal would review and negotiate sales agreements and her team could focus on higher-value work. In addition, analytics on past contracts and current market trends empowers the sales team to visualize opportunities and negotiate the best possible deal.
The CFO offloaded 100% of Anodot’s routine sales contracts to Superlegal. “We saw a 75% reduction in legal fees, with no change in quality,” said the CFO. “In fact, the quality is even better and the turnaround time was hours, not days.” Anodot’s sales team also felt the benefits. The average time to close on their deals was reduced, on average, by three days.
“We saw a 75% reduction in legal fees, with no change in quality. In fact, the quality is even better.”
Anodot’s business outlook is extremely positive. With Superlegal, Anodot’s CFO has the time to focus on financial matters and legal has gone from a sales blocker to a sales enabler.