What if a legal technology product required NO implementation?
Implementation has become a dirty word in the legal technology space.
One persistent challenge we've observed is the often lengthy and cumbersome process of implementing Contract Lifecycle Management (CLM) systems.
It's not uncommon for this journey to stretch out for months and sometimes even a year or more, especially for large companies. So, what's causing these extensive timelines?
Importing Prior Contracts and Key Data
The first major hurdle in CLM system implementation is importing existing contracts and crucial contract data. This entails identifying the parties involved, pinpointing contract start dates, determining renewal or termination dates, and collecting other critical details.
While this step can proceed seamlessly for those companies blessed with a well-organized contract repository, the reality often differs significantly. Many organizations are venturing into this territory for the very first time, leading to substantial manual efforts and some serious legwork to locate all their contracts.
This initial phase alone can consume a significant chunk of time in the implementation process.
Workflow Digitization Challenges
Another bottleneck in CLM implementation lies in the digitization of workflows. Many CLM products require customers to translate their existing workflows into digital formats within the CLM system.
This assumption hinges on the company having a solid grasp of its workflows and the ability to smoothly transition them into digital counterparts. What's more, workflows related to contract review and negotiation tend to be intricate and nuanced, making them a challenge to digitize effectively.
Humans have learned how to navigate these subtleties, but replicating them in a linear, one-size-fits-all digital workflow can prove ineffective in real-world scenarios.
Creating and Importing Contract Templates
The third significant hurdle revolves around creating and importing contract templates and alternative clauses into the CLM system. Again, this assumes the customer already has these templates and clauses neatly prepared and organized. Unfortunately, this isn't always the case.
Here's the catch: all three of these hurdles are fundamentally rooted in human work, not technology. It's the laborious process of contract negotiation and management that frequently holds up CLM implementation.
And this is where Recital comes into the picture, reshaping the contract negotiation and management process entirely. We flip this paradigm on its head and give in-house legal professionals a valuable tool in less than a day.
Recital: A Game-Changer with a One-Day-to-Value Promise
Recital empowers legal departments to kickstart their journey in just one day, without the need to tackle these implementation aspects upfront.
While we are not a CLM, we often get mistakenly classified as one due to the jobs that Recital manages. However, we don't require in-house legal teams to ensure a lengthy implementation.
Instead, Recital seamlessly handles these tasks in the background as in-house counsel go about their daily work.
Effortless Contract Import: Thanks to Recital's technology, importing prior contracts becomes a breeze. It can scan users' email inboxes and cloud storage, automatically identifying contracts and extracting vital metadata such as party names, start dates, and renewal terms. The days of manual data entry are long gone; Recital sets you in motion instantly.
Streamlined Clause Library and Legal Playbook: Forget the need to have everything impeccably organized and ready before implementation. Recital allows you to dive in immediately and upload templates and clause libraries as you go along. Recital doesn't demand that you have everything prepped in advance. It offers alternative clause suggestions from your own past work, making it incredibly convenient when reviewing contracts in real-time.
Seamless Integration: Recital plays harmoniously with the tools you're already familiar with. No need to learn a new interface or navigate multiple systems. It connects directly to your email inbox (be it Outlook or Gmail), integrates seamlessly with your existing cloud storage solutions, and operates right within Microsoft Word, the go-to platform for contract negotiations. Recital seamlessly slots into your workflow, enhancing your efficiency without disrupting your established processes.
Take the Recital One-Day Challenge
Recital's innovative approach offers a breath of fresh air in the legal technology landscape. By minimizing the need for extensive preparatory work and seamlessly integrating with your existing tools, it allows legal departments to hit the ground running. Bid farewell to extended implementation times and say hello to a more efficient, streamlined, and delightful contract negotiation experience with Recital.
Want to take the Recital One-Day Challenge? (Hint: The challenge is ours — to get you up and running inside of one day).
Book a demo and we will show you what is possible, or try Recital for yourself, free.
