Effective communication makes for effective negotiation.
So, we're excited to introduce our new Internal Guidance and External Comments features, that give you everything you need to make sure your deal team gets off on the right foot with each new contract they receive.
Empower your business teams to be self-sufficient.
Internal guidance keeps your team and stakeholders updated from the very first review. This is the ‘for company eyes-only' content that directs colleagues or clients on key decisions and outstanding actions to get to signed.
External comments provide an automated crib sheet for responses to counterparties, keeping momentum on transactions through fast turnarounds and a focus on the key issues.
These features can also be used to deliver self-serve advice for NDAs and less complex contracts so that legal can focus on what matters most. With the world leading accuracy of ThoughtRiver’s new LexibleTM Fusion AI-engine, you can have peace of mind that your checklist is accurately applied.
Internal guidance is available in the app and also as part of exportable reports.
Educate colleagues about your playbook policies as they work.
As your business colleagues review a contract, they can start learning your company’s playbook supported by Internal Guidance. You can create a self-serve training environment that educates them on what they need to know and do while they work – particularly handy for new team members or junior employees. There’s no need to have separate checklist documentation they need to refer to – ThoughtRiver generates an issues list applying your checklist and your guidance appearing side by side with the contract.
Playbook policy internal guidance and external commentary can be instantly applied on the very next review reducing the time legal needs to spend preparing training meetings and educating the wider business. Internal Guidance is an always on training program.
Automatically prepare contract reports for colleagues, clients and counterparties.
Contract reports are a great way to communicate with colleagues, clients and counterparties.
Contract reports:
- Ensure that everyone is on the same page in a negotiation
- Educate colleagues and clients on issues
- Minimise wasted redlining effort early in a transaction by keeping discussion focused on the issues not the legalese
- Provide digital summaries of key points in your signed contracts
Internal Guidance & External Comments are available to all ThoughtRiver customers. If you're not already a ThoughtRiver customer, you may want to sign up for a demo to see why the world's best companies trust ThoughtRiver to accelerate their contract negotiations.
