Contract Logix transforms contract management with Collaboration Room feature

Contract Logix, a provider of data-driven contract management software, is adding a new and transformative contract collaboration capability, called Collaboration Room, to its flagship Premium CLM platform.

Organizations are under significant pressure to digitally transform their business processes to  increase visibility, continuity, and remote operations. The new Collaboration Room technology enables this by allowing all internal and external parties to collaborate with greater speed, ease, and intelligence during negotiation.

Parties can review, approve, and mark-up contracts in real-time and from any location via a single secure cloud-based destination.

The Collaboration Room technology provides an easy, intuitive, and frictionless user experience for all parties involved while increasing the transparency, compliance, and auditability of the negotiations.

For organizations focused on business process optimization, the system allows them to benchmark and track KPIs that can be used to improve contract negotiation strategies such as measuring time to execution, identifying common objections and redlines, understanding exactly who from the counterparty is involved in the process, and more.

“Contract Logix’s new capabilities transform the way that people are going to negotiate contracts. Our Collaboration Room technology gives our customers and their counterparties the ability to communicate, negotiate, edit, review, and approve contracts faster and with more transparency than if they were in the same room together. Our goal is to help our customers manage contracts in this new normal by offering features that help improve and optimize their current processes, as well as give them the foundation they need to grow in the future,” said Tim Donaghy, CTO, Contract Logix

For more information about this news, visit www.contractlogix.com.