The top 3 reasons in-house legals get frustrated at work
More often than not the legal department is considered a contract delivery system. As a consequence, in-house legal counsels are barely involved during the negotiations or even after a contract is signed. This makes it difficult to keep an overview of all contracts and to plan work in the legal department. Only after the bomb has exploded and the problems occur legal is instantly involved and expected to have all the answers.
No one loves a surprise contract review at 5 pm on a Friday
Once a contract is signed or negotiated, it often ‘disappears’. It vanishes in the mailbox of someone in the sales department, or part of the contract is uploaded on the shared drive, but the addenda and e-mails containing extra agreements are nowhere to be found. This pushes legal departments to go on a wild contract hunt to follow up on the agreements that are made or to provide valuable lists to co-workers (e.g. list of clients whom you don’t have an NDA with for marketing, or a list of licenses that are about to expire for IT). Or to easily find all contracts that contain a specific clause (e.g. change of control clause).
It’s always the legal team that runs after the information from other teams in order to serve them
Most companies work with so many programmes that don’t communicate with each other when it comes to contracts (e.g., Excel for listing all contracts, Sharepoint for storing them, Adobe for e-signing and a personal calendar for notifications). On top of that, most companies lack a clearly defined procedure on how to handle contracts consistently. Both these issues lead to contract tasks getting either forgotten or inaccurately completed.
Contracts aren’t just legal documents, they are business documents first. So why are they dropped with legal?
Why in-house legals rely on Contractify’s expertise
"With Contractify, we've given our legal structure a strong foundation. All our contracts are managed in 1 place, we receive automatic termination date notifications and visibly reduce risks & costs. In less than 1,5h/week, we now manage contracts of over 200 branches!”
Margaux Hoornaert, Meat & More
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