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ContractRoom Review

5

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Very good

Revainrating 5 out of 5  
Rating 
4.9
Sales, Contract Lifecycle Management

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Description of ContractRoom

ContractRoom is a cloud-based negotiation and contract lifecycle management system that changes the way deals get done and how decisions are made. There are clear differentiators with the competition, namely in the way ContractRoom streamlines the entire back-and-forth on business terms and legal text between negotiating parties. The solution can automate and capture data document assembly, term negotiation and contract management for any corporate buying, selling, hiring and recording activities. And then the large data set can be leveraged with machine learning to help predict the best terms and clauses for future agreement - finding the path of least resistance for the close. This means your internal and external dealings will be faster (up to 75%) with less mistakes and minimal friction. Here's why we were recently awarded the "Best Collaboration Tool" by LegalTech: 1. Collaboration and Control - it covers the entire process of communication, reviewing, editing, approving and tasking both internally in an organization as well as externally with counterparties. Imagine never having to play a game of email ping-pong again or decipher a redlined MSWord circulated internally and/or externally to determine the sequence in which changes had been made! Or, no longer worrying about which document version you're working on when involved with multiple parties. ContractRoom does away with all this counter-production and annoyance!; 2. Transaction and Behavior Data - it captures and leverages transaction and behavior data from the entire back-and-forth negotiation, not only the final outcome, as is the case with most CLM systems. ContractRoom keeps a data record of every negotiation offer and counter on any business term or legal clause as well as tracking how long it takes (“timers”) and how many changes are made (“counters”). Once these data sets are aggregated, the system can make inferences for future deal-making and decision-making in real-time, what we call Predictive Agreement. So, negotiators no longer have to operate in a vacuum; instead, they benefit from the “collective intelligence” of their peers and can collaborate in a more informed way so as to achieve better business outcomes. So, wouldn't it be great to have a system that could remove all the guesswork in a negotiation - and help guide you to the right decisions, providing the answers before the questions are even asked.
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Reviews

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Type of review

Revainrating 5 out of 5

Reliable software for creating documents & legal contracts

Their customer support team was very helpful as we were new users who had no experience using this software before! I love their automated feature which helps me save time when it comes writing contracts/agreements by having them auto populate some fields automatically like section headers etc., so i dont have too much work myself at all times while creating agreements or other documents such as purchase orders. Nothing really dislike but if you're looking into purchasing something similar look

Pros
  • Very easy to read format that's intuitive enough even being used daily since 3 years ago already
Cons
  • Nothing here

Revainrating 5 out of 5

"Awesome Software " - Great experience !

I love all aspects about it but most importantly its ability as an application which has been used by both private sector clients also public organisations like PTA's etc., It helps me when dealing or managing contracts/agreements internally within my organization & externally too! Sometimes there might arise some issues while using this software such us:- 1) sometimes slow performance2), need more features3). Overall i would say everything seems good except few minor niggles4.). But overall…

Pros
  • Very user friendly
  • Easy navigation via menu bar
Cons
  • I will keep silent

Revainrating 5 out of 5

Easy-to use Contract Room solution for faster data exchange

We have used contract room as our preferred tool since we started using it about six months ago. It has been very helpful so far because it allows us fast access to contracts which reduces time consuming manual processes while also making sure all relevant information regarding agreements is accessible at one place. I do not think there's anything much i dislike too! If you're looking forward to implement an automated deal flow process, go ahead with this product firstly!! You'll find yourself…

Pros
  • The interface between different modules (agreements/contracts) make things easier than ever before no more clunky excel spreadsheets that are really hard for everyone in team use & maintainance!!! In addition , if something goes wrong its easy enough fix up without resorting complex technical solutions like 3
Cons
  • Almost never

Revainrating 5 out of 5

A great tool indeed when managing business transactions

I like all aspects about this product including customer support services provided by team members who have expertise knowledge base with regard what you need or want to know more. Nothing at all but it really worth using as much information are available from their products which would ease up our work process especially during negotiations. All documents we use should come along with proper tags so it's easy for us to retrieve whenever needed. I like the fact that it is very user friendly…

Pros
  • Easy interface
  • Organized layout format making navigation between functions easier than ever before.
  • Support service representatives always ready when help required
  • Ease data uploads into CRM software via API connectivity feature providing greater security over other means through email attachments can easily be copied onto PC hard drives resulting accidental edits being saved directly back within system
Cons
  • I don't really have any dislikes about this, everything is just fine

Revainrating 4 out of 5

Very useful for any kind off legal documents

It has been very helpful in our daily deal making process especially when it comes down to negotiations or contracts writing/revisions where we have several versions from multiple people working together at one time. I like all aspects of this software but i think its integration into Salesforce would make things much easier as well! We use Contract Room primarily during our procurement processes; however, there's nothing wrong about using it throughout an organization’s contracting life cycle.

Pros
  • Agreed upon workflow
  • Multiple person editing capabilities (useful for documents that require many revisions)
  • Ability work with other SF tools such Excel &amp Word to keep info centralized.
  • Easy upload capability makes getting new deals easy even if you aren't always around your computer while uploading files is still possible.you just need internet access.
  • Great support team!!!!!
Cons
  • Nothing really..it seems pretty good