Legal budgets are tightening, while contract flow is increasing and deal velocity is becoming more and more important to CEOs. Deals slow down while sales wait for legal to review any new contracts. When the legal team finally gets to the contract, 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 by tasks far below their capabilities while deals stagnate and the business has to wait for revenues.
ThoughtRiver directly increases deal velocity and 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 strategy, not NDAs
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 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.
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.