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Clause Library and Playbooks

Catherine_Choe

It would transform my legal department's life to be able to give permission to senior staff / managers in Sales and Finance to approve the use of template clauses that Legal has drafted in advance. There are certain things like pricing and the structure of pricing that are the purview of Sales and Finance that Legal ends up having to draft, and it slows deals down because Sales has to wait for their request to make its way up the queue.

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kenneth_carter

Great question!!

We have perfected this to a near science (have used small data analysis previously): https://bitmovin.com/warp-speed-contracting/.

We use the term LEGO (legal + logos (Greek for word, thought, principle, or speech) or Legal Entry Grafted On, since we don't want to infringe anyone's trademark). LEGO is also easier to say that additional terms and conditions, and conveys the impression to our business user that they are creating a contract from preset, pre-approved building blocks in order serve their particular need.

It has done wonders for delegated decision making, flexibility, predictability, and speed to close.

I am happy to talk your ear off until the cows come home (and mix other metaphors), if helpful.

Jana_Kopecka

This feature would be a lifesaver for me! I'm building our internal system of playbooks with mandatory steps and pre-approved clauses, and trying to find the best solution to combine it with Ironclad workflows. I'm currently using our internal wiki for all relevant information and several conditions in Ironclad to cover some potential scenarios - still looking for a higher level of automation that would take the legal out of the game 😅 I need to keep it as simple as possible and moving the most of the legal processes to Ironclad sounds like a heaven to me 🙂

@kenneth_carter I've read about your LEGO system and it's a true inspiration! Plus, it's perfectly memorable for all non-legal teams which is from my perspective super handy when you're trying to explain new processes especially to the sales team.

David_Wieseneck

This is now live!

Are you liking the feature? Is it fitting your needs?

Catherine_Choe

David, my greatest regret in my role is that I'm the person at Everlaw who understands Ironclad best by a huge margin, but it only makes up about 5% of what I do, so I haven't had a chance to test this out yet. Luckily, half the company is on holiday this week, so I'm looking forward to digging in on this -- I'll reply again on Thursday!!

David_Wieseneck

@Catherine_Choe - how'd it go?

Catherine_Choe

I falsely assumed that the week between Christmas and New Year's would be quiet. I STILL haven't entered this yet.

But part of the delay is also that I'm eyeing an overhaul of our playbook terms, so now I'm kind of caught in an infinite chicken/egg loop.

Jana_Kopecka

Hi Catherine and David, I’m planning to finally implement our playbooks for the sales team to Ironclad in the following weeks. I really hope that I’ll be able to launch our “Ironclad 2.0” soon to make our contracting process more efficient. There was always something with the higher priority so I had to postpone it but now I put it in my OKRs for Q1 so I believe the time is now!😅 I’d be happy to share with you our experience once I’m done (hopefully really really soon)!

Catherine_Choe

That would be fabulous -- THANK YOU!!!

You are very brave to put it in your OKRs!