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Modern contract management blog

Blog Authors

roman
Lilian
Annie Brown
Thomas B. Magee

Latest from Parley Pro

Negotiation-focused contract management software improves your contract negotiation strategies and unleashes competitive advantages in ways you may never have suspected. Part 1 of this blog series, The Fundamentals of Collaborative Contract Negotiations, shows how negotiation-focused contract automation software unlocks more profitable business relationships.  Here in Part 2, we’ll discuss how to use contract negotiation software that also saves time and effort as it: Reduces conflict and keeps complex contract negotiations on track and aligned with…
Unlocking More Profitable Business Relationships with Contract Automation Software For too long, business leaders have taken an adversarial approach to contract negotiations. Each side maintains an extreme partisan view of success and must win at the expense of the other. Outdated negotiation practices only encourage one-sided behaviors. Stakeholders huddle in their respective headquarters, carefully inspecting every clause for hair triggers that may detonate landmines hidden by the other side. They are misled by technical jargon…
You’ve finally written what you think is the ideal contract. Your legal team has pored over it. Your CEO has signed off on it. Everything looks good — until it’s time to send it in. Now it’s time for the other side to examine the contract and make proposed changes. You wait. Then you wait. And you wait some more. When those alterations come back, you get to start the process over again. This isn’t…
Here at Parley Pro we’re constantly looking for opportunities to enhance our Leadership Team and Board of Advisors with people who have a unique and cutting- edge approach to solving legacy contracting challenges. Most recently we were proud to announce the addition of Keld Jensen, a renowned expert in negotiation, behavioral economics, game theory and trust. Jensen is a best-selling author and award-winning consultant to organizations like Microsoft and Ernst & Young. Mr. Jensen…
It’s only May but it’s already been an incredibly busy year here at Parley Pro. We’ve rolled out several new product features, refreshed our UX to make it even more intuitive, onboarded new customers, and we’re planning some major announcements for the Fall. With so much progress, it’s nice to see our innovation and hard work recognized with industry awards. We’re delighted to announce that Parley Pro was named a 2019 Ten Best Legal Tech …
As recently as five years ago, companies could debate whether or not to use contract management software. That’s not the case today. Instead, the question has shifted to which contract management software should your business implement. Modern contract management software can shorten sales cycles, reduce legal headaches, and increase transparency. However, it’s important that companies are well-informed on which platform to select and how to fully utilize this powerful software. In this article, you will…
Tools for managing contracts and contracting processes have existed for decades. Traditional contract lifecycle management (CLM) systems were aimed at digitizing existing processes, while tools like Microsoft Word aimed to digitize physical documents. In the new era of the cloud, AI, and in a business world where speed everything, it’s time to move to contract automation. Digitization was about replacing processes from paper to computers, automation is about transforming the processes so that both contracts…
There’s no doubt that Microsoft Word transformed how people create and edit content. However, Word is not always ideal for contract negotiation and multi-party collaboration, especially when it comes to the use misuse of Track Changes. Even those most proficient in Word have admitted to these “Doh!’ mistakes: Remembering to turn on track changes It’s become a natural reflex to open up a document you receive and start editing immediately. Sometimes you’ve gone too deep before realizing that…
Contracts govern the flow of an organization’s finances. Whether they are with clients, vendors, employees, or business partners, contract terms determine a great deal about the money coming in and out of your company. How you manage contracts also influences your company’s revenue in surprisingly hidden ways. Factors that impact the economics of contract management, include conditions and activities related to creating and negotiating contracts, managing risk, and monitoring the performance of contracts. Though they…
Contracts and bills of sale have evolved considerably since the days when terms between two parties were laboriously etched in ancient stone and pressed into clay tablets, or written by dedicated scribes on brittle papyrus scrolls. Nevertheless, the medium and method of contract negotiation has remained uncomfortably static for decades. The advent of office applications such as WordPerfect and Microsoft Word brought the legal industry into the digital age, but the usual contract negotiation process…