Ever gone though the process of negotiating a contract and got lost in the weeds? For startups this is one of the most common things that slows down growth. Trying to sell a software as a service product to enterprise companies is a slow drawn out process. Legal negotiations can drag out and by the time they are drawing to a close you have a long legal document that needs to be reviewed for changes and you need to make commercial decisions on what can be agreed on and what can’t be.
A new contract management tool ContractSent looks to take the pain out of the communication process by streamlining the comparison of documents and the decisions that leaders have to make. ContractSent builds on the idea that during contract negotiations for B2B SAAS contracts there are only a handful of meaningful clauses that need consideration. The head of sales shouldn’t be pulled into deciding whether the sentence should include ‘a’ instead of ‘the’.
Founder Scott Whitaker started building the company after spending hundreds of hours in meetings making decisions that could have been check boxes. The process of scaling legal contracts from your first ten customers to your first two hundred is broken, severely. As a head of finance a lot of his time was soaked up by these conversations.
After scaling companies from 5000 users to 200,000 users and going though contract negotiations with some of the world's largest companies, enough was enough. It is a problem that needs to be solved.
Building out the beta version of the product has meant working with a lot of people who have experienced the same issues. Startups have a lot of growing pains and this one is one of the most painful in terms of time and money.
ContractSent allows you to not only upload, compare and contrast contracts but also build out customer use cases, see where in the negotiation process every customer is and tag customers with high level risk information such as liability.
The focus for Scott and the team is to help legal, sales, leaders and customers all work together to speed up the software as a service legal contracting process. Not being able to communicate and clearly set out use cases and thresholds for decision making is slowing us all down. The end of the sales pipeline is a blackhole for many SAAS companies and it’s time to shine a light on it.
Media Contact
Company Name: ContractSent
Contact Person: Scott Whitaker
Email:Send Email
Phone: +61452466187
Country: Canada
Website: www.contractsent.com/
