What is Collaborative Contracting?
Collaborative Contracting is an innovative approach to contract negotiation that emphasizes real-time collaboration, communication, and transparency among all parties involved in the contracting process. It aims to streamline the most painful points of contracting, from negotiation to compliance and renewal.
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First Class for Everyone
At The Contract Network, we believe that everyone should have access to the best tools and insights for contract collaboration and compliance.
Whether you are a paying member, an experienced advisor, or a first-time guest, you’ll all have access to the same powerful tools and insights to get your deal done.
That means we offer our full suite of AI-powered capabilities to everyone who uses our platform. You’ll also be able to securely and privately collaborate with your colleagues, and to safely collaborate with your counterparts, all while leveraging our “data from the first draft” to improve your contract compliance.
Advisors, including counsel, investment bankers, and brokers, play a crucial role in almost every complex transaction.
They balance competing priorities and work hard to get deals done as quickly and efficiently as possible. Yet, despite their critical role, there are few tools at an advisor’s disposal to simplify the transaction process or close deals faster.
At The Contract Network, we believe that advisors deserve a first-class seat at the contract management table. That’s why we’re the first collaboration platform to enable advisors to initiate transactions on behalf of their clients. By leveraging our AI-powered capabilities, advisors can streamline the deal-making process, reduce risk, and deliver better outcomes for their clients.
Whether you’re a lawyer, investment banker, or another type of advisor, The Contract Network has the tools and support you need to build practices, manage fixed-fee engagements more effectively, and get deals done faster and more efficiently.
Negotiating deals with multiple parties, such as in a middle-market M&A process or a clinical trial with multiple sites, is extraordinarily complex and time-consuming.
The Contract Network – where businesses come to get deals done – streamlines the process, helping everyone get to the point and negotiate faster.
Our platform keeps all the comments, drafts, and parties in sync as to status, making it easier for the company or advisor leading the negotiation to manage and track progress. Additionally, our Contract Synthesis™ feature allows you to more easily look across each party’s comments in a structured and efficient way, repurposing the approach from one party to the next.
Using our AI-powered capabilities, we analyze and summarize each party’s changes in each draft, making it simpler to digest and respond quickly and consistently across the entire project.
With The Contract Network, managing multi-party deals is easier, faster, and more efficient than ever before. Whether you are negotiating the sale of a company in a middle-market M&A process, conducting a clinical trial with multiple sites, or other complex, multi-party deals, we’ve got you covered.
The Magic of the Match
We understand the frustration that comes with reviewing an agreement line by line to determine where you and your counterpart align and where you differ. That’s why we’ve developed a unique approach that we refer to as the Magic of the Match.
The Magic of the Match enables you to compare any draft agreement to your own Profile to determine how closely it aligns with your standards. With this powerful tool, you can quickly identify areas of agreement and potential areas of conflict, allowing you to focus your negotiations where they matter most.
Whether you’re negotiating a new agreement or working to amend an existing one, the Magic of the Match streamlines the process, saving you time and reducing the risk of errors or oversights.
Playbooks and Contract Profiles™
At The Contract Network, we believe that documented playbooks are essential for driving consistent contract standards.
However, creating and maintaining playbooks can be complex and time-consuming. That’s why we’ve developed an innovative solution, that we call Contract Profiles™, that streamlines the process, allowing you to build and update playbooks from your most recent negotiations and applying them to your next deal.
Create a Contract Profile from scratch, from a template agreement, or from your latest negotiation. Give it context, taking into account factors such as the size and risk of the deal, as well as your relative bargaining power. Then simply apply your Profile to any draft agreement to determine how closely it aligns to your standards.
All in the Family
Managing complex, multi-document agreement families can be a headache for businesses, and it’s one of the largest unsolved problems in contracting.
The Contract Network radically changes the paradigm, first, by automatically keeping all members of a family together and helpfully reminding you that “you are here.” More importantly, with our proprietary Contract Synthesis™, we make it easy to visualize an entire family in a single view and answer questions like – “who owns the IP” or “can we terminate early” – even when there are 20 or more members of the family. And to wrap it up in a tidy bow, simply go to the “conformed” view of any document, and we’ll create an “amended and restated version” of the original and its amendments on the fly. With The Contract Network, managing complex agreement families is easy, efficient, and stress-free.
“Moneyball for Contracts”
In the book Moneyball, we learned that relying on intuition and mythology, rather than facts, leads to suboptimal outcomes and missed opportunities.
Contract negotiation without access to quality data is a direct parallel to the Moneyball problem, consistently leading to questionable decisions and costly delays.
At The Contract Network, we’re committed to delivering on the promise of “Moneyball for contracts,” transforming negotiations with the power of data and analytics. By providing all parties historical trends and real-time data and insights, we will enable clear-eyed decision-making, leading to more efficient negotiations and better outcomes.
Contracts can be repetitive, and it’s often hard to keep track of previous negotiations and decisions. The Contract Network makes it easy to see what you’ve done before.
If you’ve negotiated with the same party before, we’ll tell you what you’ve done so you can leverage that information in your current negotiations. If you’ve negotiated the same agreement or clause before, The Contract Network AI will also let you know, so you can repurpose those decisions. And if you like what you’ve done, we’ll make it easy to take your decisions and make them a reusable Contract Profile, enabling you to access these decisions again and again.
With The Contract Network, you’ll never have to start from scratch again. We make it easy to build on previous successes and ensure that your negotiations are always efficient and effective.
CLM Customers and Partners
Contract lifecycle management is an elaborate process with complex workflows to meet the needs of a complex customer base.
Our vision is not to replace existing CLM implementations, but to augment them with our collaborative contracting capabilities, primarily through accelerated contract negotiation. With our open APIs and the possibility for robust integrations, we can enhance any CLM implementation to accelerate the negotiation process and enable a higher level of obligations management tracking. Let’s make our customers successful together.