If you’re in corporate legal, you’re probably all too familiar with the concept of contract lifecycle management (CLM) by now, even if you haven’t implemented a CLM solution yet. CLM is one of the hottest technologies in the legal space today, but much of the talk is more hype than substance.
CLM is an area that’s ripe for digital transformation, but not all technologies actually deliver. When you’re choosing a CLM solution, ROI matters – and to prove how serious we are about that, we’re offering a 60-day money-back guarantee on Onit’s CLM software.
In this podcast, Matt DenOuden, Onit’s Senior Vice President of Global Sales, discusses the CLM money-back guarantee and how to get from hype to payoff.
CLM Tool ROI
Contracts are all about money, whether you’re selling your own goods and services or paying to secure the goods and services of others. That means that the efficiency of the contracting process is directly tied to revenue – the faster you can complete your contracts, the faster you get to making revenues or realizing the benefits of the money you’re spending.
A vast majority of legal teams (86%) say they need to modernize by using more technology, while 71% of in-house lawyers say they feel stuck doing low-value work, including manual contract work that requires multiple systems.
If you can find a way to reclaim that time and substantially shrink the overall contract cycle, you’re going to have a very tangible impact on your ROI. The trick is finding the right CLM solution.
CLM From Onit
The Onit CLM solution stands out from others in the space because we took the time to perfect it before we marketed it – we weren’t going to enter the marketplace until we had a market-leading product. We started our company 10 years ago by custom-building a CLM solution for a client and have continued to invest in and evolve our solution ever since.
Onit’s CLM software provides a strong workflow that’s configurable to your individual needs. We don’t just presume that the steps in your process for a certain contract type are going to be the same for the next. The flexibility in our tool allows you to always have transparency into your contracting process.
Our CLM AI also significantly accelerates contract review and extraction with:
- ReviewAI, which reviews and redlines contracts such as NDAs, MSAs, SOWs and purchase agreements in less than two minutes
- Smart Checklists in the ReviewAI Word Add-In, which turns playbook checks into intelligent, actionable and collaborative tasks.
- ExtractAI, which extracts contract data and obtains usable data from executed, legacy and third-party paper contracts in less than five seconds.
We believe so strongly in our CLM technology that we’re giving you a 60-day money-back guarantee.
Try It Today
It takes 30.9 days for the average contract to be approved without CLM technology. Chances are, you and your business stakeholders would like to see that 30 days shortened significantly. With Onit CLM, you can make that happen.
Most software trial offers give you nothing more than a demo of the product. We’re offering a bona fide trial period at our own risk, backed by a commitment to return your money if you’re not happy after 60 days. Even with an average contract cycle of 30 days, you get 60 days for all your stakeholders to try our software, understand its value and realize the extent to which it can improve your ROI.