Deal velocity is the speed with which a company can negotiate and then sign a contract to close a transaction. It is absolutely key for any organisation in terms of maximising the full value of a deal, yet it is often overlooked as a KPI that can be measured and improved.
ThoughtRiver directly improves deal velocity by making your legal team more efficient in their review of new third-party contracts or redlines of your own templates.
Up to 95% time saved for initial contract review
Up to 80% costs saved for initial contract review
Turbocharge your sales team in the final mile
Our automated contract review technology understands the complex information present in a contract and can review that contract against your own policies. It will then serve up a simple recommendation that a business user or lawyer can easily act upon. We turbocharge your deal velocity.
Our contract review intelligence is delivered within Microsoft Word for fast remediation work by lawyers or even business users. We allow one-click comments and suggest clause replacements to really increase deal velocity.
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.
Learn how automated contract pre-screening technology can free up an in-house legal team to deliver strategic and commercial value to the wider business.