Contract automation

From the creation and negotiation to the review and execution of contracts, the process can be complex and time-consuming, especially for companies with a high volume of contracts. In this article, we'll explore everything you need to know about contract processing, its important components, and technology solutions that can streamline the process and improve efficiency.

This article will provide valuable insights and practical tips for any business owner or legal professional who wants to ensure their contracts are watertight and free of significant risk.

Do you know if your company is fully complying with all of its contracts? In this article, we look at contract compliance and provide practical tips on how to meet your contractual obligations.

The 2023 Guide to Automated Contract Drafting in Law provides a comprehensive overview of automating the legal contract process. This guide provides expert insights to reduce manual errors, increase efficiency, and utilize the latest tips and best practices. Whether you are a legal professional or business owner, this guide will provide valuable information to simplify your contract management process.

We'll go over everything from setting up the template to tracking contract changes and expiration dates. Whether you're just getting started or looking for ways to improve your current contract database, this guide will hopefully help.

In this article, we'll look at what redlining a contract means, best practices for redlining contracts, and the potential benefits of using contract software.

When choosing a contract management system, keep your company's goals in mind. To help you do that, we've compiled a list of the six most important features a contract management system must have to work well.

In this article, you will learn how to manage contract renewals in the most efficient way. We will also discuss possible problems that you should avoid. But first, let's talk about what contract renewal is all about.

Following a set of contract renewal best practices will allow you to prioritize and allow enough time for renewal so that no opportunity for modernization is lost. Read on to learn everything you need to know about contract renewal.

In this article, we will take an in-depth look at contract obligations, including their importance, why they are important to compliance and business success, and the tools you can use to effectively track and manage contract obligations.

Companies that neglect the value of contract parameters, fail to capture it properly, or fail to address major gaps will never realize the full potential of their contract portfolio. In this article, we will discuss what contract parameters are, why they are important, and how they can help companies make informed decisions.

MS Word is a reliable software. But if you look into alternative programs, you will undoubtedly find new ways to streamline your work and improve customer service.

One of the most popular electronic signature software is PandaDoc. It competes with alternatives in a competitive market. Before you buy PandaDoc, you should look at the best alternatives.

The right software can have a big impact on how a company manages compliance and reduces risk when legal departments and other teams collaborate on contracts. Because both parties to a contract are important and active components of an automated process, their mutual trust and understanding grow and support an overall corporate culture of collaborative management.

Contracts can be made interesting and considered an essential part of the business and customer relationship. Contracts can strengthen trust, serve as a reliable communication channel, and help the parties achieve their goals. However, this requires changing the way contracts are created.

Although PDFs are widely used in business, they are not without flaws. There are drawbacks and nuances associated with them. We take a look at some of them.

One should always secure oneself via a contract, no matter with whom one enters into a business relationship and how good the relationship was before. In addition, one's own business interests should always be kept in mind.

It is not difficult to create a playbook. However, the strict application of the contract management playbook in any company can be challenging and difficult.

Contract automation is the process of managing contracts from creation to delivery and digital archiving of contract documents with the aim of creating a more efficient contract process.

As more and more companies move to digitise their entire legal and sales processes, automation is crucial for success. Everything has been digitised, from marketing processes to production, and contact management has not been forgotten.

In practice, it is common for laws and contracts to be composed of highly complicated structures, especially in terms of wording. It is due to this circumstance that only people with a certain education, for example lawyers, can understand and discuss these texts. This automatically leads to delimitation, and higher costs. Now, high costs in legal advice usually lead to the search for more cost-effective solutions, such as the use of contract software.

In our previous article, we explained that contract lifecycle management (CLM) and quotation software (CPQ) are made for each other because both categories of software focus on making sales work economically. In this article we will take a closer look and explain the differences between the two solutions.

Companies usually have different sales cycles, which can vary greatly depending on the framework conditions and the business model. Sales cycles can quickly last several months. If these sales cycles are shortened, profitability can easily be increased. Quotation software can help shorten the duration of these sales cycles.

PandaDoc's proposal software is popular with sales teams in Germany as well - but does it also work for legal issues and contracts in particular? This article compares PandaDoc's features and limitations with top.legal's one-stop contract platform.

Considering how much time and effort critical contracts require - from the timely involvement of all parties involved (internal as well as external) to the definition of the scope of the contract, the rights and obligations contained in the contract, deadlines and much more - the use of effective contract management can dramatically improve the performance of organisations.

If contracts are the lifeblood of a company, then it must also be important to circulate contracts quickly and regularly. A higher circulation is therefore also synonymous with a higher vitality of the company. This is a proof that many successful companies do not fail to provide. So what can be done to create contracts that people like to sign?

In the last few months and years, document automation and legal tech have become established buzzwords. At top.legal, we have already left behind the traditional paths of document creation via word processing programmes. We see the future and the next level of contract creation via visual document automation without code. What does this mean for law firms and companies in practice?

At top.legal, we talk to in-house lawyers and other business leaders on a daily basis. What we have found is that internal legal departments, when interacting with sales and other departments, are regularly confronted with the same issues and the same challenges in the contract process.

Are you still using Microsoft Word for important business documents such as quotations and contracts? If so, a word of comfort, you are not alone. However, you are missing out on a lot of great features that could save you time and make your documents better.

The power of modern software for processing documents via the cloud has increased dramatically in recent years, while many of the underlying processes have remained the same. With the acceleration of development, it is also becoming apparent that cloud-based solutions are superior to device-based offline solutions in almost all areas. As the network infrastructure continues to expand, more complex cloud solutions are becoming possible and accessible to an ever-increasing proportion of the population.

Writing and formatting contract texts so that they are adapted to the specific facts of the case is an enormous time-consuming task. The text must cover all legal aspects, be linguistically qualified and at the same time be comprehensible enough for the client to feel that he is in good hands.