6 factors to evaluate the right contract management software for the legal counsels & teams

Contract management, sometimes also mentioned as contract administration, refers to the processes and procedures that companies may implement in order to manage the negotiation, execution, performance, modification and termination of contracts with various parties including customers, vendors, distributors, contractors and employees.

Contracting is one of the most crucial activities in determining the success of any business arrangement, and shall not be considered as the jobs to be done by the lawyers only. There are multiple stakeholders involved in completing any contract.
This article is mainly targeted for the legal counsels as well as the internal/external legal teams.

Here are the six key factors […]

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Five things you must know about the Smart Contracts

Computer scientist and legal scholar Nick Szabo first proposed the idea of smart contracts two decades ago. He suggested that the decentralized ledger could be used for smart contracts, otherwise called self-executing contracts, or digital contracts.

Today, even if the actual use of smart legal contracts remains largely in the future, the idea has gone mainstream.

You might have heard this term many a times and would be thinking about it often. This quick article is aimed at providing you a very brief overview of smart contracts, its usage and key benefits.

What exactly is a ‘smart contract’?
Smart contracts are really just pieces […]

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Five priorities for the corporate law firm’s technology innovation team

As per the Global Deloitte CIO survey 2016-17, more than half of CIOs see innovation as a key priority, but they also feel that Managing Partners / CEOs are so risk-averse they are unable to get the money to fund the innovation.

Many international firms today have dedicated ‘Innovation Teams’ that are tasked with looking at new technologies and provide innovation strategies for the legal firms’ future.

Legal tech applications range from expediting document searches to helping predict the outcome of lawsuits, to managing complex cross-border M&A transactions through the deployment of project management tools and software. Furthemore, companies in this space […]

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Eight factors to evaluate the best contract management software for your organization

If you are reading this article, or if you’ve just stumbled upon it on internet, chances are that you are either in the process of finding the right contract management software solution for your company, or you have already shortlisted some providers. This article can help you in making the right decision for selecting the best contract management software solution for your business.

1. Smooth implementation & ease of use
It’s very important that you find a contract life cycle management software that offers the ease of implementation and use for your employees. Implementing new software in any company is an experience […]

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Conversations vs. Combat

Conversations vs. Combat

Does your sales team know the difference between conversation and combat?

Far too often, salespeople will get into verbal hostilities with their potential buyers. They hear a question or an objection and automatically go on the defensive!

This is not a trait you want to see in one of your sales reps. You’re simply not going to close a sale with a customer you’re also arguing with. The last thing you want is for your sales rep to “win” the debate and have your customer sit back and shut up. This is a sign of apathy and it won’t lead to anywhere positive for the sales rep […]

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Stumbling with Cold Calls? You’re Not Alone. Here are Some Helpful Tips.

Stumbling with Cold Calls? You’re Not Alone. Here are Some Helpful Tips.

Even for experienced salespeople and sales leaders, it is not unusual to occasionally hit a wall — even fear — when it comes to making cold calls.

Here are a few tips to put you at ease:

Today will soon be done. Essentially, my encouragement to you is to stay positive and remember that one challenging day with some cold calling does not define your week, month or year.

If you sit in an open area where your colleagues can hear you on the phone, remind yourself that people pay less attention than we think they do. You may feel self conscious […]

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Six Steps to Digital Selling Success

Six Steps to Digital Selling Success

There’s a societal behavior pattern at work with social selling, which I find fascinating.

Shout It From The Rooftops

Have you ever noticed how we tend to shine a spotlight on the behaviors and social mores that we want to morph and replace with a “new normal?” By shining the spotlight on an issue and increasing awareness, over time, acceptance grows. I remember first learning about this in a sociology course in college, many years ago. Some societal examples:

Minority groups and supporters lobby about the need for equality and diversity and foster a societal movement toward racial equality.
Women’s groups and supporters espouse […]

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Tackling the Impossible Sales Challenge

Tackling the Impossible Sales Challenge

How do you get a targeted account if all your previous attempts have failed? If you want to catch a big fish, perhaps the sports fishermen of New Zealand can give you some ideas. After all, they face a very difficult, if not insurmountable, challenge that would stop most fisherman entirely.

The coastline off the Ninety Mile beach is teaming with red snappers and other delectable salt water species. It’s a gorgeous pristine area with huge sand dunes, no hotels and no piers.

To complicate matters even more, the sandy beach often goes out for hundreds of yards, making it difficult to fish […]

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5 Factors Needed for Sales Enablement Success

5 Factors Needed for Sales Enablement Success

To keep your business relevant and competitive, you need to move away from old sales tactics. These interruptive techniques will only hold back your company. Sales enablement, however, will help you and your sales people adapt to the new way people buy.

What exactly is sales enablement? It’s a multi-faceted term that refers to the tools, technologies, processes, and practices that empower sales teams and help them sell at a higher velocity.

To break it down, here are five factors you need to consider for success.

1. Sales and Marketing Alignment

Are your sales and marketing teams operating in silos?

To be successful, everyone needs […]

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What is document and contract redlining?

What is document and contract redlining?

In document management and collaboration process, redlining refers to marking text that has been edited. Typically, redlining is used when two or more people are working on a document together; each individual can redline the text that was added or edited. The redlined text will then appear in a special color (or as bold) so that others can see the changes that have been made

The traditional redlining process typically takes two files as input, compares them to find the largest and nearest blocks of common text, and showing the rest as either added or deleted.  The process works best for […]

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