We got frustrated with legal processes

After a decade of running finance, revenue operations and legal processes in the B2B space we realized two things.

  • Legal contracts are a source of truth for customer data
  • Early stage companies suffer from slow processes

Hours spent reviewing contracts with legal?

We can’t remember how many hours we spent with legal ensuring their redlines were use case appropriate and having them raise commercial decisions for approval in meetings and on calls.

It was not fun. So we wanted to build a better way with a tool specifically built to help teams collaborate with legal while unlocking the data in contracts.

Legal should raise commercial decisions

If you’re meeting with your legal team as a decision maker and they are reviewing every change with you then there is a lot of wasted time.

Data shouldn’t be trapped in PDF contracts

Most early stage companies file a contract once it’s been signed. The data gets trapped in PDF’s and may differ from what’s in your CRM.

Sales teams should outline use cases

To review and redline contracts faster and more effectively one of the most useful things you can do is outline customer use cases for contracts.

There should be a structured source of truth

At the end of the day your contracts are the most reliable source of truth. Extracting & structuring this data will make your legal ops a key business driver.

We’ve built enterprise B2B companies from seed to unicorn

The Contract Sent team has built and scaled teams in USA, Europe, UK, Asia and Australia focusing on putting in place legal operations and scaling processes. The biggest learning was to start early and get a legal operations process in place that feeds data back into the business.

The first twenty customers can be handled manually

When you’re getting started things are all about closing deals. Your first twenty customers are an amazing achievement and just getting those contracts signed is a great start to getting your company off the ground. Your naming convention of ‘final final.V2’ will have worked for now but it’s time to get organized.

Above that your business will struggle with contract data

As you grow you’ll find that unless you’re tracking the data that is trapped in your contracts you’ll start to face growing pains. Understanding when to recognize revenue, having a reminder for early renewal motions or simply building data for your potential investors starts to get difficult. Time to chat with Contract Sent.

So you’ve started to pull out the data stuck in your PDFs, so what next? There are a lot of areas in your business to put this data to work.

A source of truth for the contracts won and their ARR dollar values. Drive renewals off the contract end date so you don’t miss revenue recognition.

Sales

Commissions & Renewals

Once you’ve structured data you can build your cohort analysis & MRR on top of reliable data, not several sources that don’t align with each other.

Finance

Reporting

Track how often you deviate from your standard contract and what levels of liability you agree to. Understand when you use your own contract template.

Legal

Reducing Risk

Want to learn more about how to use your data?

We’re data geeks at heart and would love to chat to you about what issues you’re facing and how Contract Sent can help.

Office

New York, New York

Hours

Mon-Fri: 8am – 5pm
EST

Via Email

scott@contractsent.com

Ready to get your contract data in order?

Get reliable data out of your contracts and structured today.