How Contract Negotiation Software Helps In-House Counsel Avoid “Death by 1000 cuts”
Death by 1000 cuts.
The “lingering death.” AKA lingchi. It’s a gruesome metaphor, but we find ourselves using it often in business contexts to represent wasted time.
The little things. Catching up on email. Meetings that COULD HAVE been an email. Waiting for a page to load or for someone to unmute themself on a zoom call. For in-house counsel, the blade does its share of slicing in specific ways, some of which you might not notice immediately. Eventually, though, those cuts add up.
How to Start Saving Time with Contract Negotiation Software
You’re good at it but still burn precious moments looking for contract versions. Like opening the current version of a contract with the previous version to make comparisons or searching your email for notes from a colleague about an in-flight deal. Or making sure a contract from the other party, ready for signature, is the same as the one you approved.
In a profession where time is famously valuable, those cuts can get deep. Especially at fast-growing companies and even more in these economic conditions, when we are all expected to do more with less.
As an in-house counsel, you know that contract negotiations can be time-consuming and overwhelming. From managing versions of the contract to ensuring that everyone is on the same page, negotiating contracts can take up valuable time that you could be spending on other important tasks. That's where contract negotiation software comes in.
Automating the Little Things
Contract negotiation software is designed to automate many of the tedious tasks associated with contract negotiations. This software is especially useful for in-house counsel who work with multiple contracts simultaneously. It streamlines the process by centralizing all of your contracts in one place and automating tasks such as contract comparisons and document assembly.
One of the biggest benefits of contract negotiation software is that it saves time. By automating many of the tasks associated with contract negotiations, the software frees up your time so that you can focus on other important tasks. Additionally, many contract negotiation software platforms provide analytics and reporting tools that allow you to track the progress of your negotiations and identify areas where you can improve.
At Recital, we've designed our contract negotiation software to work seamlessly with your existing tools. We integrate with Word for contracts, email, and cloud storage, so you don't have to switch to a new system to use our software. This integration saves you both time and money and lets you start using our software immediately without any downtime.
Doing More with Less
Another advantage of using contract negotiation software is that it increases efficiency. With everything in one place, you can easily manage multiple contracts and negotiations simultaneously. This streamlines the process and reduces the likelihood of errors or omissions. By reducing the time and effort needed to manage contract negotiations, the software increases your workflow's efficiency and helps you complete projects faster.
Recital's contract negotiation software is specifically designed to be easy to use. We know that you don't have time to spend hours learning how to use new software, so we've made it easy for you to get started.
Our software can be implemented in just one day, and most of that time is spent waiting for it to search your current deals to identify your existing contracts. Once that's done, you can use our software immediately to save time and streamline your workflow.
Fewer Mistakes and Better Collaboration
Another key benefit of using contract negotiation software is that it increases accuracy. By automating many of the tasks associated with contract negotiations, the software reduces the likelihood of errors or omissions. It also ensures that all stakeholders are on the same page by providing real-time updates and notifications. This reduces the likelihood of miscommunication and ensures that everyone is working towards the same goals.
By integrating seamlessly with the tools you already use and making it easy to get started, contract negotiation software like Recital can help you streamline your workflow and make the most of your valuable time. Don't wait any longer, reach out to us today and see how we can help you improve your contract negotiation process.