Should my legal team collaborate with the rest of my business?

You’ve been building a business and hassling for every dime so far and now it’s time to get serious, you’ve got enough sales volume coming in that you should have a legal person to work with to make sure you’re not creating risk and you’re asking yourself “should my legal team collaborate with the rest of my business?” The simple answer is “hell yes”. Often the legal team is seen as outside the well oiled business processes that you’re creating but as you scale you’ll find that this is not conducive to a fast moving team. Every day counts, and delays in the sales cycle can be detrimental to the success of your business. For small to medium-sized startups engaged in B2B software sales, contract negotiations often become the bottleneck, extending the sales cycle and causing frustration among founders, sales leaders, and legal teams alike. This is where Contract Sent steps in as a tool to bring your legal team into the workflow. We change the way legal teams collaborate with the rest of the business to streamline contract management and accelerate growth.

The Challenge of Legal Processes

Many startups face a common set of challenges in managing their legal affairs. Contract negotiations consume a significant amount of time, often making the sales cycle longer than necessary. Coordinating and managing the startup legal team becomes a complex task, especially when faced with tight deadlines at the end of the month or quarter. Senior leaders find it challenging to gauge the progress of legal negotiations, resulting in a lack of oversight. Additionally, post-signing, crucial contract information is often trapped in lengthy PDFs, making it difficult to access and utilize.

The Contract Sent Solution

Contract Sent addresses these challenges head-on with a comprehensive set of features designed to foster collaboration and enhance efficiency.

1. Dashboard for Contract Overview:

• Gain a bird’s eye view of ongoing contract negotiations.
• Track each contract’s stage and the responsible team member.
• Provide senior leaders with real-time updates on the progress of negotiations.

2. Metrics Dashboard:

• Monitor key contract metrics for actionable insights.
• Identify bottlenecks and areas for improvement.
• Enable data-driven decision-making to optimize the sales cycle.

3. Kanban Board for Contract Management:

• Streamline the management of contract stages.
• Enhance visibility into the status of each contract.
• Facilitate efficient task allocation and workload distribution.

4. Version Tracking:

• Ensure clarity with a comprehensive history of contract versions.
• Easily identify changes made during negotiations.
• Streamline the approval process for contract modifications.

5. Clause Tracking:

• Highlight and track important contract clauses.
• Facilitate informed decision-making during negotiations.
• Minimize the risk of oversight and potential legal issues.

6. Advanced Contract Comparison Tool:

• Simplify the process of reviewing changes in contract drafts.
• Enhance accuracy and speed in the approval process.
• Mitigate the risk of errors and misunderstandings.

7. Task Management:

• Efficiently manage the legal team’s workload.
• Prioritize tasks based on deadlines and urgency.
• Ensure that legal resources are allocated where they are needed most.

8. User-Friendly Access and Unlimited Users:

• Provide seamless access to contract information.
• Foster collaboration by accommodating unlimited users.
• Tailored pricing to meet the needs of startups.

The Power of Collaboration

The question arises: Should your legal team collaborate with the rest of your business? The extremely simple answer is yes. The workflow between legal, sales, and leadership teams is critical for driving growth and success in a market that would otherwise eat you alive. With Contract Sent, collaboration becomes seamless, breaking down silos and promoting a unified approach to contract management.

By fostering collaboration:

• Accelerate Sales Cycles: Streamlining contract negotiations reduces delays, enabling faster deal closures and revenue generation.
• Enhance Oversight: Senior leaders gain real-time insights into contract progress, empowering them to make informed decisions and guide the business strategically.
• Optimize Legal Workflows: Efficient task management ensures that legal teams focus on high-priority tasks, enhancing productivity and meeting critical deadlines.
• Unlock Contract Data: No longer trapped in cumbersome PDFs, contract information becomes easily accessible, facilitating quick reference and analysis.

So, should my legal team collaborate with the rest of my business? Contract Sent is not just a contract management software; it’s a catalyst for collaboration, efficiency, and growth. Break free from the constraints of siloed legal processes and empower your team to thrive in the dynamic world of tech startups. After all, when you’re building a startup you’re not just building a product, you’re building a team and collaboration is the key to staying ahead.