PoseidonCM: The end-to-end contract lifecycle management platform you have been looking for!

Contract standardization is a fancy way of saying that companies use pre-approved templates for their contracts to make things easier. These templates have set terms and conditions that don't change much, so there's less need for negotiation. This can save time and make deals happen faster.?

Imagine you run a company and you need to sign contracts all the time. Some contracts are straightforward and don't need much back-and-forth. These are the ones you'd want to standardize. But others, like big deals or special agreements, need more customized terms.?

Here's why standardizing contracts can be helpful:?

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Quicker Deals: With standard contracts, you can close deals faster because there's less haggling over terms.?

Consistency: Using the same contract terms every time helps keep things organized and makes it easier to manage your business.?

Less Work: Standard contracts save time because you don't have to spend ages drafting and approving each one individually.?

Save Money: When you spend less time on each contract, you save money on all the resources it takes to get them done.?

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So, how do you go about standardizing contracts??

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Decide Which Contracts to Standardize: Figure out which contracts you use the most and which ones are pretty simple and low risk.?

Look at Your Current Contracts: See what's common across all your contracts and what parts are always changing. This will help you build a good template.?

Keep it Simple: Make sure your contract is easy to understand and doesn't have too much legal jargon. You want everyone to get it.?

Make it Fair: Even though it's a standard contract, it should still be fair for both sides. This makes it easier to agree on.?

Create Your Template: Once you know what to include, make a master template. This will be your go-to for all similar contracts.?

Get Everyone on Board: Make sure everyone knows about the new template and how to use it.?

Automate the Process: Use software to manage your contracts and make things run smoother.?

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Standardizing contracts can save you time, money, and headaches. It's about making things easier for everyone involved in the contract process.?

Poseidon contract lifecycle management:?

Poseidon's contract lifecycle management solutions help legal teams manage contracts better without slowing down sales. Here's how Poseidon can make your contract process smoother:?

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Simplify Negotiations: Legal teams can use Poseidon's pre-approved clause library to create different clauses for negotiations. This helps sales teams negotiate without worrying about breaking any rules.?

Improve Security and Speed: Poseidon provides templates for different types of contracts, like service agreements.

Easy Revisions: If changes are needed, Poseidon lets users route contracts using review & approval processes. This means no extra training is needed, and sales teams can have contracts back faster to close deals.?

With Poseidon, managing contracts becomes simpler and more efficient, making life easier for legal and sales teams alike. If you want to learn more about Poseidon's solutions, get in touch with us today or schedule a demo.?