In today’s fast-paced business world, legal departments are bombarded with multiple contracts which they have to draft, analyze and send to their respective stakeholders. They are required to stay on top of any renewals or obligations, which can be extremely inconvenient without a centralized source for their contract management.
Contracts are managed by various departments such as legal, finance, procurement, sales, etc, and are stored across multiple systems. Some teams have it on cloud while some departments choose to have a physical copy of them. Fragmentation of these contracts can lead to poor contract performance due to non-standardized workflows and perplexing language and terms. Manual processes such as tracking commitments and managing renewals can be cumbersome and error-prone. Finally, any non-compliance or breach of contract can lead to fines or litigation.
The World Commerce & Contracting (WorldCC) research recently found that 70-75% of failing projects occur due to contracting and commercial issues, resulting in more than 9.2% of annual revenue leakage.
To stay competitive and be at the forefront of technological advancements, organizations need to recognize the risk of having an inefficient contract management system and utilize modern-day solutions.
Standardize, streamline, and automate every contract
Thankfully, smart AI-powered CLM tools exist, allowing legal teams to efficiently manage all their contracts seamlessly on one platform.
Contract management tools allow legal departments to have complete visibility over all their contracts and expedite the contracting process by 70%. These tools establish a single, digital and intelligent system of all contracts and contract data, whether corporate, buy-side, or sell-side. From contract creation to risky clause alerts, AI-powered CLM tools can help you automate all manual tasks and focus on strategic issues.
CLM Tools are a must in today’s fast-paced digital world
Volody’s Intelligent CLM tool trained with extensive data points provides you with many insights and protects your company from any possible risks, be it financial, regulatory, or reputational. Volody’s AI-enabled CLM solution creates a centralized repository for all your contracts (from NDAs and MSAs to IP licensing agreements and pricing terms), facilitating effortless contract negotiations and driving organization-wide compliance!
Our full-suite CLM tool transforms physical contracts into structured, easily-digestible data allowing you to keep track of renewals, manage obligations and assess compliance risks.
Stay on top of regulatory changes with our AI-powered Volody’s risky clause identifier. Our tool can scan through all your agreements with a click of a button, allowing you to save hours of manual tedious work. Improve contract language and minimize administration with intelligent contract automation and authoring capabilities.
Imagine a reality where your contracts have no more forgotten milestones, no more penalties and you always get the total value of the terms you worked hard to negotiate. That’s possible with Volody’s full-suite CLM!
We believe in showcasing the power of our tool so go ahead and try it out for free by creating a trial account on our website. Our product has been trusted by enterprises around the globe, helping them save more than 35% in administrative costs and expedite their drafting process by 70%.
About Volody Products Inc
Volody is a leading AI-enabled Contract LifeCycle Management (CLM) Software company helping businesses to digitize and automate their legal contract management processes. Volody CLM uses artificial intelligence & machine learning features to create smart and agile solutions that meet the needs of an ever-evolving business world. Trained with extensive data points, our smart CLM tool provides you with many insights and protects your company from any possible risks, be it financial, regulatory, or reputational.