Good CLM tool to drive efficiencies
Use Cases and Deployment Scope
We use SpotDraft to manage all contracts within the company. The different types of contracts include - NDAs, sales contracts, partner agreements, advisory agreements, third-party vendor agreements, etc. The business problem that this solves is - we have a one-stop CLM tool at our disposal. We monitor different stages of a contract from drafting to negotiation to completion using one tool.
Pros
- Show dashboards on contract life cycle
- Manage all types of contracts at one place
- Identify bottlenecks in contract process
Likelihood to Recommend
The best place to use SpotDraft is on contract negotiation. The entire life cycle of a contract negotiation is captured well on SpotDraft. Data is also crunched and displayed in dashboards. We get to prepare better first drafts of contracts when we know of areas which get heavily negotiated on.
