“With LinkSquares, your teams are a strategic advantage. Legal teams are working faster, they’re working smarter, and the results are absorbed and understood by our business.” - Chief Legal and Compliance Officer, Data Protection Software
Sales teams have Salesforce, marketing has HubSpot, and now Legal has LinkSquares. For too long, legal teams have toiled in outdated, manual processes.
We're proud to say those inefficiencies are a thing of the past. LinkSquares enhances productivity, delivering real cost benefits to businesses. According to a new study by Forrester, those savings come to the tune of 352% return on investment (ROI) and a net present value (NPV) of $2.71 million over three years.
A new Total Economic Impact™ (TEI) study by Forrester Consulting measured the potential ROI that LinkSquares' CLM can offer customers. When we commissioned the study, we were confident the results would speak for themselves. Even still, the incredible results our customers are realizing through LinkSquares are impressive.
Forrester spoke directly with our customers to see how they benefit from their LinkSquares investment. Here's a sample of the results for the customer based on the interviews:
- 40% recapture of prior contracting workload. Between automating contract creation, documentation, and searching for terms in new contracts, the composite organization’s legal team more than halves the average manual labor cost per contract.
- 86% reduction in outside counsel spend: Before LinkSquares, customers dealing with contract analysis around mergers and acquisitions (M&A) extensively relied on outside counsel to help process contracts from the acquired organizations and perform due diligence on older contracts impacted by the change. LinkSquares provides a centralized database with Analyze and preapproved templates and clauses in Finalize. The composite organization reduces the number of contracts requiring outside assistance to process from 95% before LinkSquares to 9% after three years.
- 75% reduction in the probability of risk exposure: For the average customer, the cost of exposure could be hundreds of thousands of dollars for each contract. Finalize makes identifying potential liabilities, obligations in the event of emergencies, and areas where a force majeure clause is required going forward easier, while Analyze can identify areas of liability and obligation in past contracts.
- 15% increase in contract value: Limited visibility into pre-existing contracts makes it too easy for unfavorable ones to renew automatically or for legal to miss crucial, expensive clauses during contract signings and negotiations. LinkSquares offers improved visibility that helps customers drive improved contract value by making it easier to let contracts expire without incurring penalties.
We're proud to say this study solidified what we already knew. Not only is the LinkSquares CLM platform making our customers more productive and efficient, but it's also making them more valuable. Gone are the days of having contracts spread across disparate platforms and the inability to effectively comb through old agreements to identify potential risks and opportunities.
With LinkSquares, legal teams unlock their true potential and become strategic business partners. If you're a GC or legal pro ready to centralize and streamline your contract management processes, LinkSquares is for you. Check out the Forrester study and learn about the benefits, costs, and risks.
Download the full 2022 study here: The Total Economic Impact™ Of LinkSquares CLM: Cost Savings & Business Benefits Enabled By LinkSquares
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