Congratulations! You just closed the highest number of deals at the highest dollar amount you have ever sold and had the biggest year in the history of the company. The champagne bottles are popping and the sales team is already spending their commission checks. You’re hiring new staff to take on new challenges. What you don’t know is that you may have a ticking time bomb in one of those new contracts, something that was missed during your review process. Maybe it’s an acceptance clause that’s a little too strict, or a liability cap that’s a little too high.
Let’s face it: in the fast-paced world of enterprise sales, things get missed in contracts all the time. It could be human error. It could be a version control issue on a word document that eliminated an agreed to redline and your operations team never went back to review that finished section again. It could have been missed because your in-house attorney was reviewing so many contracts at once that he/she thought it had already been handled. And maybe, just maybe, it won’t come back to bite you.
Unless it does. It could be 2 years from now, after you have paid that new staff and paid out the salesperson and are investing those expected funds in new company initiatives. Now you’re facing an unforeseen legal issue, with significant costs for your organization.
It’s long been said that hope is not a recipe for success. This is where Clearlaw can help. Clearlaw’s Natural Language Processing (NLP) features don’t get tired at the end of the quarter and are not subject to human error. It compares your corporate legal IP, or Smart Playbook, to the contract as if it’s seeing it for the first time, even if it has seen the contract before. So, whether it is a version control issue, or something else that’s missed, your organization will have the confidence that you can eliminate ticking time bombs from your contracts.