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Deal Velocity

Speed up sales and procurement contracts that get 'stuck in legal'.

What Is Deal Velocity?

Deal velocity is the speed with which a company can negotiate and then sign a contract to close a transaction. It is absolutely key for any organisation in terms of maximising the full value of a deal, yet it is often overlooked as a KPI that can be measured and improved.

 

ThoughtRiver's Contract Acceleration Platform directly improves deal velocity and speeds up sales & procurement by making your legal team more efficient in their review of new third-party contracts or redlines of your own templates.

 

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Up to 95% time saved for initial contract review

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Up to 80% costs saved for initial contract review

Turbocharge your sales team in the final mile

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Close More Deals With Greater Velocity and Efficiency

Our automated contract review technology understands the complex information present in a contract and can review that contract against your own policies. It will then serve up a simple recommendation that a business user or lawyer can easily act upon. We turbocharge your deal velocity.

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Negotiate the Contract Within MS Word Just as You Always Do

Our contract review intelligence is delivered within Microsoft Word for fast remediation work by lawyers or even business users. We allow one-click comments and suggest clause replacements to really increase deal velocity.

ThoughtRiver in Action

We are helping a major U.S. bank to pre-screen service agreements, SOWs and licensing agreements. We are able to help them review these contracts in around 3 minutes at a cost of $35 each; they had previously spent an average of 2-3 hours at a cost of $200 on each review.

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“In a like for like comparison ThoughtRiver was faster and more accurate with its pre-screening than members of my legal team.”
GC, Global Manufacturer

How to accelerate contract negotiations

Discover how technology enables rapid issues discovery and automatically adds years of experience to inside counsel.

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