There are a number of SaaS platforms that offers a range of tools for startups and small businesses, including contract drafting and management. The platforms provide users with customizable templates, drag-and-drop editing, and e-signature capabilities to streamline the contract drafting process. They also include tools for managing the contract lifecycle, such as automated reminders and analytics to help users track the status of their contracts.
In summary, these contract drafting SaaS vendors offer a range of features and tools to help users streamline the contract drafting and management process. Each platform has its own strengths and weaknesses, so it’s important for businesses to carefully evaluate their needs and choose a platform that best suits their requirements. By using these tools, businesses can save time and resources while ensuring that their contracts are accurate, legally compliant, and effectively protect their interests.
- PandaDoc: PandaDoc is a cloud-based document management platform that offers a range of features for drafting, sending, and tracking contracts. With PandaDoc, users can create professional-looking contracts quickly and easily, thanks to the platform’s pre-built templates, drag-and-drop editor, and customizable fields. The platform also includes e-signature capabilities, which allow users to sign and execute contracts electronically, streamlining the signing process. In addition, PandaDoc integrates with popular business tools, such as Salesforce and Hubspot, to help users manage their contracts within their existing workflow. One downside of PandaDoc is that it can be more expensive compared to other contract drafting tools.
- Formstack: Formstack is a web-based form builder that also offers contract drafting capabilities. The platform’s intuitive interface makes it easy to create custom contracts from scratch or use pre-built templates. Formstack also provides features such as workflow automation, which allows users to automate tasks such as approval processes and reminders. Additionally, Formstack includes e-signature capabilities that enable users to sign and execute contracts electronically. The platform’s integration capabilities also allow users to connect to popular business tools, such as Salesforce and PayPal, to streamline their workflows. One downside of Formstack is that its contract drafting capabilities are relatively basic compared to other tools.
- Thomson Reuters HighQ: Thomson Reuters HighQ is a cloud-based platform designed for legal professionals that provides features for contract drafting and management. With HighQ, users can create and edit custom contracts, share them with other users, and track their status in real-time. The platform’s user-friendly interface, which includes drag-and-drop functionality, makes it easy to create and edit contracts. HighQ also includes powerful workflow management tools, allowing users to set up custom approval workflows and automated notifications. Additionally, the platform offers advanced security features that help ensure that contracts are stored and shared securely. One downside of HighQ is that it can be more expensive than other contract drafting tools, and may be better suited for larger organizations.
- Documate: Documate is a cloud-based document automation platform that includes features for contract drafting. With Documate, users can create custom contracts using pre-built templates, conditional logic, and data integrations. The platform also includes e-signature capabilities and features for document management and automation, such as custom approval workflows and automated notifications. Documate’s interface is user-friendly and intuitive, with a drag-and-drop editor and real-time previews to make it easy to create and edit contracts. One downside of Documate is that it can be more expensive compared to other contract drafting tools.
- ClauseBase: ClauseBase is a cloud-based contract automation platform that provides users with a wide range of features for contract drafting and management. With ClauseBase, users can create custom contracts using pre-built templates and a drag-and-drop editor. The platform also includes features for document automation, such as conditional logic and data integrations, as well as e-signature capabilities. Additionally, ClauseBase offers advanced security features, including user permissions and audit trails. One downside of ClauseBase is that it can be more complex compared to other contract drafting tools, which may require a steeper learning curve.
- Gust: Gust is a cloud-based platform designed to help startups and small businesses streamline their operations, including contract drafting and management. With Gust, users can create custom contracts using pre-built templates and a user-friendly editor. The platform also includes features for document management, such as custom approval workflows and automated notifications. Additionally, Gust includes e-signature capabilities and integration with other business tools, such as PayPal and QuickBooks, to help users manage their contracts within their existing workflow. One downside of Gust
PandaDoc is an affordable, feature-rich contract management software that helps you oversee the entire lifecycle of your contracts. Its intuitive interface and rich-media, drag-and-drop editor make it easy for you to create custom templates and set up your own workflows and processes.
Its templates include pre-designed documents for a variety of business needs. You can customize them, add your own logo, and use them as a basis for creating new documents. You can also upload your own templates and save them to PandaDoc’s library.
Whether you’re a sales team or a marketing agency, a good proposal can be the difference between winning and losing a client. It should clearly outline the services you’ll provide, what tactics you’ll use to reach your goals, and how much time it will take.
As a specialized SaaS contract provider, PandaDoc is ideal for companies that need to manage their proposals effectively. Its e-signature capabilities are strong, and its integrations with popular CRM providers like HubSpot, Pipedrive, and Microsoft Dynamics can streamline document workflows.
One of PandaDoc’s key features is version control, which allows you to track changes made to a document and recover a previous version in case something happens. It also lets you filter your documents by status, and includes a search bar to help you find the documents you’re looking for.
The service also offers a mobile app that lets you sign documents remotely, or deliver them in person. It also sends web and mobile notifications for every document’s progress and status. You can set these notifications to email you about delivery fails, comments, and document completions. You can also create custom folders to organize your documents.
Formstack makes it easy to automate the processes that matter and boost productivity. For example, Todd’s team uses Formstack Documents to generate contracts when a status moves from “Under Consideration” to “Closed/Won.” He also adds the delayed deliveries feature to ensure that signed documents are delivered back to Salesforce before any other forms go out.
This helps prevent data errors and reduces manual labor. You can even add conditional sections to your documents so that a document is only sent out if certain fields are filled in. This way, your team can avoid duplication and improve the quality of their work.
Moreover, you can use conditional sections to send out packets of documents to specific recipients, and Formstack will make sure that they are received by the right people every time. For instance, if the recipient of a document is someone who has previously visited your clinic, you can send them an outline of their past interactions with your team.
These features can help save time for your team and improve client relationships. They are especially useful when you need to automate the generation of custom contracts that include specific information about your customer.
You can easily use a third-party API to integrate your documents with your preferred invoicing software or payment provider. Or, you can create a form that collects patient information and then use your preferred CRM to store it once it’s returned by the customer.
If you want to send documents to multiple people and have them automatically sent back to you when they’re signed, Formstack Documents is the best tool for your needs. It will keep track of all your signed forms, and automatically update your CRM with the new information.
With one of the largest product portfolios in the industry, Thomson Reuters has an extensive set of solutions to match your firm’s needs. Its flagship products include Westlaw, Practical Law, and HighQ, among others, with more on the way.
The company’s flagship contract management solution is powered by AI-assisted document automation to help you streamline and automate the creation of legal contracts, resulting in a more efficient and effective way to serve your clients. The solution is built on a secure, cloud-based platform that’s easily accessible to any team member across your organization.
Designed for legal professionals, it maps to your priorities and processes while driving data visualization for key performance indicators like turnaround speed and volume of legal contract requests by business unit. And with guided implementation from a team of experts, you’ll see a quick return on your investment.
It also helps you to de-risk and de-silo your document creation by providing a single, easy-to-use system for all of your legal documents. Embedded AI-enabled tagging of documents automatically extracts relevant information, helping you get more done in less time and with fewer errors.
The company also has a full line of tax and accounting software to help you grow your firm and meet client demands. Whether you’re a sole proprietor or a large accounting firm, our integrated solutions can help you deliver the best service possible. From time entry and paycheck delivery to advanced tax and auditing solutions, we’ve got you covered. With our comprehensive suite of products, you’ll be able to increase your profitability, save time and improve customer satisfaction.
HighQ offers a cloud-based, secure file-sharing and collaboration platform to some of the world’s leading law firms, investment banks, and corporations. The platform features contract management, legal intake and self-service, document management, matter management, vendor management, knowledge management, and team collaboration.
For its legal clients, HighQ’s digital workspace allows them to access and manage documents in one place – increasing productivity and efficiency by eliminating approval bottlenecks. Automated tasks and processes streamline the process of creating new projects, matters, and files while allowing for faster client communication and interaction.
The company’s service is available in the UK, the US, and Australia. However, customers were experiencing Internet latency issues when accessing HighQ’s platforms outside of Europe. They also experienced high levels of congestion on core Internet routes, which significantly impacted dynamic website content and document transfers.
To overcome this challenge, the firm began to evaluate methods of improving performance while ensuring security. For example, it wanted a solution that could accelerate dynamically changing content without placing sensitive intellectual property into local caches.
In addition, it wanted to ensure that its application could deliver its services worldwide. To do so, HighQ looked to two best-of-breed content delivery networks (CDNs) to overcome Internet latency and boost performance, even in the US and Australia.
For startups, it is vital to understand the requirements of different SaaS agreements and how to craft them in a way that works for both parties. These include term, termination, and renewal terms as well as license scope and limitations of liability. They should also cover data security standards and privacy protection. Additionally, the terms should make it clear which party is responsible for data breach notifications and how to proceed in the event of a data breach or suspected data breach.
ClauseBase is a startup contract drafting software that uses an intelligent clause library to help legal professionals create tailored documents in a matter of minutes. The platform allows lawyers and in-house counsel to build bespoke contracts using clauses that can be stacked together like building blocks. The intelligent clauses can be linked to legal philosophy, case law, and internal know-how to ensure consistent content and style across the entire document.
The software re-envisions the traditional approach to contract automation, enabling legal professionals to dynamically draft contracts while ensuring internal consistency in terminology, grammar, numbering, style, language, definitions, cross-referencing, legal nuance, and more. It also empowers legal departments to facilitate the drafting process by outsourcing it to business users in a secure and intuitive way.
Ghent-based scale-up Contractify is integrating ClauseBase into its contract management software, allowing legal teams to manage the whole lifecycle of their contracts in one place. The solution prevents unwanted automatic extensions and speeds up the signing of contracts with customizable signing and approval flows. The software also features ADA, an AI-powered contract assistant. With these solutions, Contractify and ClauseBase are on track to become Belgian scale-ups at the forefront of leveraging AI in the contracting world.
Gust is a SaaS platform designed to help startups and small businesses streamline their operations, including contract drafting and management. The platform provides a range of tools to help businesses create, manage, and sign contracts quickly and easily. Some of Gust’s key features include:
- Customizable templates: Gust provides users with customizable templates for various types of contracts, such as NDAs, employment agreements, and equity plans. Users can modify these templates to fit their specific needs and requirements, making the contract drafting process faster and more efficient.
- User-friendly editor: Gust’s editor is user-friendly and easy to use, with a drag-and-drop interface that allows users to add and remove clauses, sections, and other elements with ease. The editor also includes formatting tools, such as font styles and colors, to help users create professional-looking contracts.
- Document management: Gust provides tools for managing the entire contract lifecycle, from creation to execution to storage. Users can track the status of their contracts in real time and receive automated reminders for important dates, such as renewal or expiration dates.
- E-signature capabilities: Gust includes e-signature capabilities, allowing users to sign and execute contracts electronically. The platform also provides audit trails and other security features to ensure that signed contracts are legally binding and enforceable.
- Integration with other business tools: Gust integrates with other popular business tools, such as PayPal and QuickBooks, to help users manage their contracts within their existing workflow. This can save time and reduce the risk of errors or duplication.
One of the main advantages of Gust is its affordability. The platform offers a range of pricing plans, including a free plan with limited features, making it accessible for startups and small businesses with limited budgets. Overall, Gust is a solid option for startups and small businesses looking for an affordable and user-friendly contract drafting and management tool. Its range of features and integration capabilities can help streamline the contract lifecycle, saving time and resources for businesses.
Is Chat-GPT the future of contract drafting?
ChatGPT and other similar AI language models have the potential to revolutionize many areas of business, including contract drafting. However, it is unlikely that they will replace human lawyers and contract drafters entirely.
While AI language models can provide suggestions and recommendations for contract clauses based on data and previous contracts, they lack the expertise and judgment that experienced human lawyers bring to the table. Contract drafting is a complex and nuanced process that requires not only a deep understanding of the law but also an ability to negotiate and communicate effectively with other parties.
Furthermore, the use of AI language models in contract drafting raises several legal and ethical concerns, such as the potential for bias and errors in the algorithm, as well as issues surrounding the ownership and control of the resulting contracts.
That being said, AI language models can be a useful tool for contract drafters and lawyers, providing them with suggestions and automating routine tasks. As technology continues to improve and evolve, we may see more widespread use of AI language models in contract drafting, but they are unlikely to replace human expertise entirely.