Welcome to Automate & Scale - the 3-minute email that teaches you how to design & integrate AI-powered automations so you can profitably scale your business.

A big thank you to our sponsors who keep this newsletter free to the reader:

​Axe Automation - building fully customized, AI-powered automation networks to help businesses cut costs & increase profits. Want to use AI to automate your business? Click here to book a call & we’ll show you how to get started.

Too many businesses find themselves caught in a similar trap:

They provide quality services, but struggle to manage the contractual aspects of their operations efficiently.

Without effective contract management, you don’t really have a streamlined business.

What you have is a time-consuming mess.

Efficient contract management is a necessity for any business and, unfortunately, mastering this doesn’t come naturally to most people.

Dealing with contracts can feel overwhelming.

“Bureaucratic”

But it doesn’t have to be this way.

And it shouldn’t be this way.

Today, I want to change that narrative.

To make contract management feel less daunting, more automated, and perhaps even intriguing.

1. Generate contract templates instantly

Implement an AI-powered contract creation platform like Evisort or LawGeex to instantly generate customized templates.

Just answer a few quick questions about the type of agreement you need, parties involved, and desired terms.

The AI will then automatically draft a complete document tailored to your specifics.

This makes fast work of creating compliant first draft proposals, statements of work, NDAs, and any other contract type ready for further customization.

You can immediately eliminate hours spent drafting from scratch.

2. Edit and customize with your team

Download the auto-generated contract template and open it in your preferred contract editing software.

Use track changes and comment functions to easily make edits and add any additional custom terms needed for the particular deal.

Set up contract approval workflows in your document software to automatically route the draft to any stakeholders like Sales, Finance, Legal etc. to review and provide input based on their area.

This smooths the internal review process.

3. Highlight key terms to negotiate

Once internally approved, send drafts out to clients for review using eSignature tools like HelloSign or DocuSign.

The AI can actually analyze your agreement and highlight or annotate any terms that should be negotiated based on past deals for this client or their industry.

This makes it easy to focus on negotiations.

AI can also benchmark your terms against databases of millions of contracts to inform what terms are reasonable to push for or concede on.

Leverage this intel during final negotiations.

4. Store all signed contracts digitally

Once fully negotiated, eSigned, and executed, have the signed contract automatically stored in your centralized contract repository like LinkSquares or Contract Wrangler.

This system now becomes your go-to source of truth for all active contracts.

Robust search capabilities let you quickly find and reference any past agreements when needed, without having to hunt through email or folders.

You’ll have the contracts at your fingertips.

5. Monitor compliance continuously

Leverage AI tools to continuously scan your entire contract database to build a registry of all obligations, dates, service levels, or any other commitments you must comply with across agreements.

It can then automatically cross-check relevant internal systems, data sources, and software for any potential breaches, expirations, or issues.

Alerts can be sent to you in real-time if action is needed.

This automates compliance tracking.

6. Uncover actionable insights

Specialized AI tools can digest all of your contract data and produce helpful analytics, reporting, and insights around average terms and limits by client, contract type, industry, or other categories.

Study these insights to refine your contract templates and benchmarks over time and improve how you negotiate overall.

7. Manage renewals and expirations

Set calendar reminders for any upcoming renewal deadlines and contract expirations so you never miss renewing or extending agreements.

For renewals, AI can even auto-populate updated contract templates with new dates to accelerate drafting for clients.

Smoothly manage renewals and avoid unintended expirations.

Final Thoughts

With smart integration of AI tools and automation workflows, creating and managing contracts doesn’t have to drain your time and create headaches.

Let technology handle the repetitive drafting, tracking, compliance, and analysis tasks so you can focus on high-value contract strategy and relationship building.

Make the overdue investment to bring your contract process into the future.

Your legal team will thank you!

See you next week.

Ed

One more thing, before you go:

If you’ve got an established business & want help implementing these AI-automations so you can effortlessly scale…

Direct message me on Linkedin (click here) saying “Automate” and I'll show you how to get started with AI today.

357 W 30th S, New York City, NY 10001
​Unsubscribe · Preferences​