The Productivity Centre was designed to accelerate the drafting, review, and management of contracts. The features were inspired in part by years of experience of providing contract governance services for a major financial institution.
To initiate negotiations, the Precedents tool can automate the preparation of a draft document. The Q&A interface ensures the correct questions are asked and the appropriate text is included. Business colleagues can generate a document without involving the legal team. If additional terms are required or a sense-check is needed, the document can be made available for comments in Doc-Tracker without using insecure email and all team members will be automatically notified that there is a document requiring their attention.
If you must review a document prepared on the other side’s paper, playbooks and, for more nuanced analysis, visualised models in Knowledge provide easy access to policies, know-how, and snippets of text with which to amend the document with links to Precedents where more complex language is needed. Concepts in Doc-Analyser can be used individually to locate provisions in the document or collectively as systemised checklists to make sure key issues are addressed. Doc-Analyser is integrated with Knowledge playbooks and models so you can link seamlessly to the content.
Doc-Tracker was designed to keep track of documents under negotiation. If you wish, you can create separate Cases to which you allow your counterparty to access, promoting closer collaboration. Either way, a record can be kept of all drafts and comments in one place. Doc-Tracker acts as a repository of copies of signed documents, which you can search using Doc-Analyser or locate using the tags you apply when recording the document. If you store documents in a cloud service, such as a CRM system, you can include links to those documents in Case and vice versa.
Once a document is signed, you can create a visualised model of it in Knowledge to create a single point of truth, highlighting key clauses for quick reference, and establishing relationships between agreements and assets, other contracts/clauses, and counterparties. In this way, you can see visualise counterparty risk or capture dependencies on other services, which can be invaluable in managing change.
In short, the Productivity Centre supports the end-to-end process and, uniquely, harnesses the power of graph database technology to establish the relationships between actors, assets, contracts, and policies.