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Contract Best Practices
9 min read

How Modern Legal Teams Benefit from CLM

With today’s technology, legal teams are able to get organized and work more efficiently than ever. The days of manually combing through contracts and excel spreadsheets are over. Here’s what you have to look forward to when you adopt a modern Contract Lifecycle Management (CLM ) solution. 

Organize Your Contracts

Categorize and classify your signed contracts into actionable tasks such as locating all contracts that will renew in the next quarter. You can collaborate with others on the legal team and set permissions and access as needed. As a team, you’ll be able to quickly identify and extract key terms and contract provisions. Simply store all contracts in a safe online repository.  

LinkSquares Analyze leverages AI to extract contract data, allowing you to reduce risk, boost revenue, and improve your business. 

 

Save Your Preferred Contract Language for Easy Use in Drafting 

Have your expertly drafted contract clause language available to directly insert into new contracts and existing templates. Enable your team to easily find specific language within an existing contract, highlight, and add from the Clause Library, or create a new entry for the Clause Library and include the language there. Effortlessly locate specific types of agreements that need updated language. 

The Clause Library enables easier drafting, fewer errors, and faster execution. Save your “benchmark” clauses to your Clause Library and assemble new agreements from your saved clauses.

 

Use Dashboards and Reporting to Share Data Insights Visually 

Make data-driven, strategic decisions with LinkSquares Dashboards

Gain insight into your contract data with customized dashboard and reporting features. Determine the average time your legal team takes to approve contracts and which person on your staff drafts the most contracts. 

 

Accelerate Deals and Move Business Forward

Close deals quickly by having a broad overview of the contracts process in your organization, including those on third-party paper. Clearly view the efficiencies and inefficiencies within your contracts lifecycle. Integrate the tools you already use such as Salesforce, Microsoft Word, and DocuSign into your contract management process. 

Want to learn more about how LinkSquares can save your legal team time? Schedule a demo today. 

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Eliana Lee is a Legal Engineer at LinkSquares.