As legal budgets tighten and contract flow increases, deal velocity is becoming more and more important to CEOs. Every day that sales wait for legal to review a new contract costs the organisation money. Many hours are then wasted reviewing clauses that are in fact not risky, or adding comments or boilerplate replies to the redlined version. As a result, in-house lawyers can become frustratingly bogged down as deals stagnate and the business has to wait for revenue.
ThoughtRiver directly increases deal velocity. That's why your lawyers will love it as much as your sales teams do.
Up to 95% time saved for initial contract review
Up to 80% costs saved for initial contract review
Free your in-house team to focus on the strategic deals
Our pre-screening tool understands the complex information present in a contract and compares your contractual positions against a bespoke playbook. This is rolled up into a single recommended action that a business user or lawyer can easily act upon. We turbocharge your deals.
Our pre-screening intelligence can be surfaced directly within Microsoft Word for fast remediation and redlining work by lawyers or even business users. We even allow both one-click comments and suggested clause replacements to really improve your speed.
We are helping a major U.S. bank to pre-screen service agreements, SOWs and licensing agreements. We are able to help them review these contracts in around 3 minutes at a cost of $35 each; they had previously spent an average of 2-3 hours at a cost of $200 on each review.
Discover how automation gives legal professionals the time and the tools to boost business performance.