ContractRoom is the first cloud-based platform to automate mission critical document processes for any business transaction end-to-end. It can do the simple stuff such as provide electronic signature and storage, but more importantly, it simplifies the process where it begins – in negotiation. Getting people to agree in a productive and predictable way for routine transactions is the real challenge. Users should demand more from the new wave of contract lifecycle management solutions, so as to “negotiate less, agree more.”
By killing all the manual, dysfunctional methods for drafting, redlining and negotiation in favor of a more data-driven approach, our users in Procurement, Sales, Legal, Finance and HR are closing their deals 5X faster with 100% less BS. With faster closing time, fewer errors and resource savings, everyone involved in the process is happier for current and future transactions. That’s right, ContractRoom leverages your past transactional and behavioral data to optimize the overall process while also providing what we call, “predictive agreement”.
imagine a system capturing a decision tree analysis across large organizations, so that a system can give a negotiator/approver the answer before the question is even asked. The way we do this is to deconstruct all the content and process flows associated with a customer and reorganize the data elements into a collection of building blocks – using a combination of machine learning and natural language processing (NLP) to automate the reconstruction, navigation and compliance. Then as the agreement process is triggered, the system can automate the process of assembling all the content, drive compliance and learn from the process – think of “middleware” for all business and legal processes. The machine analyzes all the data captured from the transaction and behavior so that users can have real-time feedback on the best decision to make during a negotiation based on the collective intelligence from millions of prior transactions.