Clearlaw, an emerging LegalTech company specializing in contract-focused Natural Language Processing (NLP) and Contract Data Extraction announced significant investments in its senior leadership team as part of an expanding Go-To-Market Strategy. As part of that strategy, Clearlaw is releasing The Challenge Series, a sequence of content focused on the challenges that corporate legal operations deal with and how Clearlaw’s tools address those issues. Today, Clearlaw releases the first within this series.
All corporate sales teams, and especially those in public companies, know and have felt the quarter crunch: the forecast calls, the questions from leadership about whether the deal is in, out, or upside. The final negotiations, the last-minute discounts, and the gives and the gets are all part of that final drive before the clock runs out. For experienced corporate sales teams, all that work means nothing until the ink is drying on the paper…prior to the quarter’s end.
One of the secrets of sales is the art of “shepherding” a deal through its final moments. And “shepherding” is the right word as the final stages of an enterprise sale can have little to do with actual selling. What sales is often trying to do is finalize legal terms on a contract. While a lot of sellers will tell you they stayed in a Holiday Inn Express last night when it comes to contractual language, they are not attorneys, and they rely heavily on small groups of lawyers, paralegals, and deal desk analysts to push a contract over the finish line.
This quarter crunch is hard on an organization. For the last week or so of a quarter, the volume of contracts that an organization needs to review may be equal to the volume they do the rest of the quarter. This puts an immense amount of pressure on sales teams to fight over a finite resource. Contracts pile up, review times get longer, and sometimes a contract gets pushed, or, potentially worse, the contract is signed with a ticking time bomb clause that could hurt your organization years down the line.
This is where Clearlaw helps. Clearlaw’s Smart Playbook features stores you corporate legal IP, your contractual gives and gets. Available directly within Microsoft Word and in conjunction with Clearlaw’s NLP models, we empower legal operators to quickly find the contractual areas that are critically important and ensure they are aligned with corporate guidance. Furthermore, Clearlaw’s SaaS technology ensures that important but missing legal terms are brought to the attention of the team for them to be added in. The result is that legal review times are cut significantly, ensuring sales teams get additional time to close those pesky quarter end deals.
When legal’s bandwidth is expanded, the entire organization wins.