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Introducing Blueprint with Lucy Li, Product Lead

Lucy Li is a Product Lead at Ironclad. A Carnegie Mellon-educated engineer, she led the front-end mobile web development of Salesforce's early tablet and phone product before joining Ironclad in 2015. She was the creative force behind many of Ironclad's core features, like red-line previewing and complex approvals. Most recently, she lead development of our most recent major product release, called Blueprint....

Balance Visibility and Control with Granular Access Permissions

At Ironclad, we’ve been thinking hard about how to give Legal control over their contracts without sacrificing visibility to the rest of the organization. On the one hand, Legal needs to make sure sensitive information stays within Legal. On the other, contracting requires cross-functional collaboration from business counterparts who need access to contracts information to accomplish their goals....

How Costly Are Manual Contracting Processes...Really?

There’s a light bulb moment that we’ve seen over and over at our customers--it’s when companies realize just how much money they’ve been spending on processing contracts, and why that matters. The average company spends almost $7,000 processing a low-risk contract, according to the International Association for Contract & Commercial Management (IACCM). Think about that. If your company signs a $100,000 contract, 7% of the contract value is out the window before contract fulfillment begins....

Why data is critical to your legal operations strategy

In Mad Men, Don Draper is the creative mastermind behind one of Manhattan’s elite advertising firms. His approach is nothing short of magic: clients go to him with problems, he takes a few swigs of whiskey, and out comes a brand new concept, sure to make his client millions. He’s not informed by numbers or market research or last quarter’s sales data--but this was the ‘60s, a time when it was perfectly acceptable to take a suave man at his word....

How Procore Uses Ironclad To Support Aggressive Growth

Procore is a global SaaS company specializing in construction management software. Its software revolutionized the traditionally low-tech construction industry, making it easy for construction firms to drastically increase project efficiency and accountability. Since its 2003 founding, the company has grown so aggressively that today it is valued at over $1 billion, landing Procore in that elite stratosphere of companies known as "unicorns." ...

How to use metrics to prove Legal's value

In a previous post, we looked at how financial and operational pressures have forced legal teams to do more work with fewer people, and explained how automation and metrics can help your team close the resourcing gap. This time, we’re going to dive a bit deeper and give you a three-step framework for implementing key performance indicators (KPIs) on your legal team. ...

3 Ways To Get More Done For Less

  Modern legal teams are increasingly overstretched. Faced with too much work, legal departments have traditionally hired more lawyers or sought outside counsel. But what happens when spending more money isn’t an option? In a recent survey, over 50% of GCs reported that their legal departments’ budget and staffing had remained unchanged over the previous year, even as their workload and responsibilities had increased....

Why Legal Teams Can No Longer Afford Fragmented Contracts Processes

Here’s an unfortunate reality: when it comes to contracts, most business teams see Legal as a black box. It’s not clear how long they’ll take to respond to requests, whether/when a contract is close to execution, or what the key blockers are for a pending contract. Contracting is thus time-consuming and unpredictable....

2 Risks Introduced By Manual Contracting Processes—And How To Eliminate Them

Minimizing risk exposure is a—if not the fundamental duty of legal departments. No other department in an organization is capable of fully understanding and then building risk-mitigating processes, and so no other department is charged with this business-critical responsibility ....

2017 Year In Review

Earlier this year, we started sending monthly product updates to our users because we wanted to better communicate how we’re incorporating their feedback into our product. Below is our latest one, for the month of December. In it, I reflect on the progress we’ve made this year and on the importance of our users to our community and to our product. ...