Ironclad

Ironclad is the leading AI-powered Contract Lifecycle Management (CLM) platform, trusted by innovative companies to manage the entire lifecycle of their contracts. Founded in 2014 with the mission to bring contracts into the digital age, Ironclad provides a single, unified platform for legal, sales, procurement, HR, and finance teams to create, collaborate on, and manage any type of contract. It transforms contracts from static documents into strategic assets by unlocking the critical business data within them.

How to use Ironclad

Using Ironclad streamlines complex processes into simple, automated steps:

1. Create & Automate Workflows: Utilize the no-code Workflow Designer to build and customize contract generation and approval processes. Use conditional logic to automatically route contracts to the right stakeholders, ensuring compliance without creating bottlenecks.
2. Generate Contracts: Launch legal-approved contracts in seconds using pre-built templates, often integrated directly into systems like Salesforce.
3. Collaborate & Negotiate: Invite internal teams and external counterparties to collaborate directly within the platform. Use native DOCX editing for redlining, add comments with @mentions, and track every revision in a clear audit trail, eliminating the need to download and re-upload files.
4. Analyze with AI: Leverage 'Smart Import' to upload legacy and third-party contracts. Ironclad's AI automatically scans the documents, extracting and tagging key metadata and clauses, making them instantly searchable and reportable.
5. Execute with eSignature: Finalize agreements quickly and securely with Ironclad Signature, a built-in, legally binding electronic signature solution that supports various methods, including clickwrap.
6. Store & Manage: All executed contracts are stored in a centralized, secure, and searchable repository. This provides a single source of truth and allows you to set up alerts for key dates and obligations.

Core Features of Ironclad

• AI-Powered Contract Analysis: Smart Import technology uses AI to automatically read and extract over 100 types of key terms, clauses, and metadata from contracts, reducing manual data entry by up to 80%.
• No-Code Workflow Designer: Empowers any user to create and manage sophisticated, automated approval workflows with a simple drag-and-drop interface.
• Centralized Contract Repository: A dynamic, searchable hub for all your contracts, providing unparalleled visibility and control over your contractual obligations and opportunities.
• Real-Time Collaboration: Native DOCX editing capabilities within the browser allow for seamless redlining, commenting, and version control, keeping all parties on the same page.
• Ironclad Signature: A fully integrated and legally compliant e-signature tool that accelerates the final step of the contract process.
• Powerful Integrations & API: Pre-built integrations with essential business systems like Salesforce, Coupa, Box, and Google Drive, plus a robust API to build custom connections.
• Advanced Reporting and Analytics: Turn contract data into actionable business intelligence, track key metrics, and identify trends to make informed decisions.

Use Cases for Ironclad

Ironclad is versatile and supports all departments:

• Legal Teams: Automate routine tasks, ensure 100% compliance, reduce risk, and gain strategic insights from contract data.
• Sales Teams: Accelerate deal cycles by creating, negotiating, and signing sales agreements (MSAs, SOWs) faster, often without leaving their CRM.
• Procurement: Streamline vendor onboarding, manage supplier contracts efficiently, and track performance against agreements.
• Human Resources: Standardize and expedite the process for offer letters, employment agreements, and NDAs.
• Finance: Gain clear visibility into financial commitments, revenue recognition, and renewal dates locked in contracts.

Advantages of Ironclad

Ironclad delivers significant business impact:

• Proven ROI: A Forrester Total Economic Impact™ study found that Ironclad customers achieve a 314% ROI, with a 65% improvement in contract efficiency.
• Increased Speed & Efficiency: Drastically reduce contract cycle times and free up legal and business teams to focus on strategic work.
• Enhanced Compliance & Reduced Risk: Automated workflows and a central repository ensure that proper approvals are always obtained and no contract is lost.
• Cross-Functional Collaboration: Breaks down silos between departments, creating a transparent and unified contracting process.
• Data-Driven Insights: Transforms contracts into a source of valuable data that can drive business strategy and growth.

Pricing and Plans

Ironclad's pricing is customized to fit the specific needs and scale of your business. They offer a suite of solutions, including Contract Lifecycle Management, AI Assistant, and eSignature. The final plan is designed in consultation with their specialists and is based on factors like the products you select, your deployment needs, and any additional integrations. To receive a personalized quote, you can request a demo through their website. A free trial is also available to explore the platform's features.