ContractRoom is a contract lifecycle management software platform. With ContractRoom, customers can close agreements 10x faster, with complete control and deep insight. ContractRoom improves the way those agreements get done, which in turn is transformative for legal operations and for the broader business processes, particularly with sales and procurement.
| Support | 24/7 (Live rep) Business Hours Online | Customer Type | Large Enterprises Medium Business |
| API | Location / Phone Number | San Mateo, California / 1 800 950 9945 | |
| Deployment | SaaS/Web/Cloud | Category | Contract Management Software |
Disclaimer: The pricing details were last updated on 05/03/2019 from the vendor website and may be different from actual. Please confirm with the vendor website before purchasing.
ContractRoom is Contract Management Software. ContractRoom offers the following functionalities:
Learn more about ContractRoom features.
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Yes, ContractRoom provides API.
What are the best aspects of this product?
ContractRoom did a tremendous job enhancing the efficiency of our contract process. It allowed us to have increased control over the process. Its contract rules/approval are currently the best in the market. It's the best thing that I've ever experienced (so far). I'm happy to finally be able to negotiate and then sign in the end --- in just one convenient process.
What aspects are problematic or could work better?
I really think more details need to be included within the implementation and intial training process. We made a second round request for training. It was actually helpful, but that would've been avoided altogther if the first round of training were more detailed.
What specific problems in your company were solved by this product?
The process of our end-to-end contracting was manually done and fragmented. Contracts ended up being skipped over. Our visbility throughout the entire process was poor. Ths time though, an automated process keeps us peeled with the status of our contracts at any point in time.
Are you a current user of this product?
Yes
What are the best aspects of this product?
Its approval/worklow and pre-installed controls around sections and clauses are really useful. An aduti trail is available for any changes made. Being able to add comment is another benefit. It's a great solution for drastically reducing attachments, versioning, and e-mails. Its visual workflow control functionality is pretty awesome.
What aspects are problematic or could work better?
I'd love being able to look into graphics and images found in the system. Having a Box integration or some kind of online storage would be fantastic. That would help move files currently pending, set for review, and moved between locations (when finally approved).
What specific problems in your company were solved by this product?
Its approval workflow and feedback on creative design. As a creative agency, we're constantly seeking an efficient approach in showcasing our work to clients for feedback, extract reviews from stakeholders, and monitoring for changes at the time of reviews. At present, we need to use this for copy. At the same time, having the ability in uploading images so we could expand system use. Frameworks and being able to build documents from templates is helpful to keep our work to spec.
Are you a current user of this product?
Yes
What are the best aspects of this product?
When it comes to business negotiations, everyone would concentrate on the contract offered in paper. The final contract version is the easiest part. The challenging part is the negotiation process happening between my company and the counterparty. ContractRoom automates this difficult process. It's about time to have something like this to finally get over the pain in business negotiations.
What aspects are problematic or could work better?
Just like any innovation in the process of business, I tend to get infuriated that my company isn't capable of adopting solutions quickly. This is more of a user problem than the technology itself.
What specific problems in your company were solved by this product?
Having the negotiation automated not only increases the speed of the painstaking process, it also leads to potentially zero errors in the process.
Are you a current user of this product?
Yes
I think this is the best and most efficient way to Contract. I find myself using this tool daily to keep connected to the movement of my contracts. With each upgrade I find myself having the ability to always be aware as to the status of my contracts and who are my key parties. I have used other contracting tools and this by far the best and easy to use. My work life is much less stressful because of this tool. Very well done and I would recommend this tool to everyone. I am so happy that I am able to use this tool from the start of the contract to close out and documentation of the whole process.
I really don't have anything bad to say about Contractroom. I really enjoy using this tool !!
Learn how to use the tool - take time in looking at the features to make your workload much less and more efficient contracting.
I find Contractroom has made my contracting experience more secure. I have version control always. I know who's hand the contract is in at all times. I do not have the worries of checking status by having to go back and forth looking at emails or version of the contract. Every comment, email, and when those events occur is a relief.
With contractroom, you have the power to make very complex rules. Or not. It's up to you.
Rules make it easy for attorneys to include terms necessary in some jurisdictions but not necessary in others. For instance, you can create a rule that will only include a certain term if the client is located in California.
At first glance, the idea of being able to create "terms" in Contractroom did not seem any more impressive than using form fields in Word. But being able to assign those terms to a specific e-mail address, and then set the term so that the absolute only things that the person who was assigned that term can do is approve it, offer an alternative, or disapprove it, rather than that person suddenly having access allowing that person to change anything in the entire document, is game changing. And as one who lives by color codes, I thought it was great that Contractroom color codes the assignments.
Another one of my favorite features was being able to see the exact dollar amount totals of terms which are agreed upon versus not agreed upon. Such an objective, unbiased view really puts things into perspective during negotiations.
Finally, whether you charge by the hour or per transaction, any law firm is going to want to be able to know how to best utilize their workforce. Contractroom allows you to see which attorneys have successfully closed which types of deals in the past so that you can know which attorney is best to call on when a particular type of deal arises.
I dislike that I can't control the colors. It would be nice to be able to customize the colors that the program uses.
For more advanced rules it felt like it might be easier to just be able to write code, rather than have to use drop down menus repeatedly.
Drafting NDAs. It's great to be able to ask a potential business partner whether they agree to specific terms without allowing changes to the rest of the document. It's also great to be able to include sections or not include sections based on the type of technology at issue or the industry of the potential business partner.
First is the consumer like UI. Very intuitive and easy to use. Plus they allow you to negotiate a contract while eliminating traditional redlining. Who likes redlining. Finally it is easy to implement and with a straightforward licensing model.
Compared to other solutions not much to dislike. In future it could use a more robust post contracts obligation management functionality to allow one to track lots of obligations like in a complex services deal but current functionality handles most needs.
If you are going to deploy a CLM, hard not to take advantage of a cloud bases SaaS solution over an on premises solution. Also like that ContractRoom partner's closely with a legal services provider to allow for a completely outsourced option.
It allows us to offer a complete end to end contracting solution and to do it at unprecedented speed. No better product in market today.
quick and easy way to sort out items of contention and their resolution.
Easy to assign and modify roles and authorities with in the contracting team
Installing and loading data on existing contracts. Convincing counterparts to use it.
21st century way to negotiate and do contracts-go for it
Installing to do new contracts. Speed and accuracy of contracts with full record who did what and when.
Contract room has significantly reduced all of the unnecessary back and forth when it comes to contracts. I can’t imagine going back to a process that doesn’t involve it!
The salesforce integration is good but there is not a native salesforce application.
Contract room is solving most if not all of the pain points involved in the contract management process.
In business negotiation, everyone focuses on the paper contract. The final version of a contract is the easy part. The hard part is the negotiation, both within my team and company and with the counterparty. ContractRoom automates this entire process of negotiation and contracting revolutionizing the "contract automation" technology space. It's about time for quality technology for such a significant business pain point.
With any business process innovation, I get frustrated that my company cannot adopt the solution faster. This is not a problem with the technology but rather the users.
Automating the negotiation not only speeds that painful process, it also eliminates the many potential errors in the process.
Navigating, template creation, tracking status, timeline on aging items, see who has the agreement and how long they have had it for. Ease of use.
The environment I work in I can only use via Google Chrome,.
I highly recommend this tool for Contract building and negotiations.
Identifying departments that are impacting turnaround time on agreements. This tool reveals what true SLAs are for departmental reviews of agreements they work on--which is great for reporting purposes.
