In today’s increasingly digitized marketplace, contract lifecycle management (CLM) has become essential. Regardless of industry, CLM tools can help businesses streamline their contracting process, mitigate risks, and reduce inefficiencies. However, contract administration applications typically require the use of a separate payment system, a limitation that is both costly and unproductive.
Game-changing startup Clause offers a robust CLM solution that features payment integration for maximum efficiency and cost-effectiveness.
Contracting in the Digital Age
Founded in 2015, Clause is built around the concept that contracting has fundamentally changed since migrating to the digital space. The revolution that began with e-signatures has evolved to allow consumers, firms, and vendors to certify their business relationships electronically. The service holds the core belief its CLM tools should provide its partners, regardless of industry or size, with value and utility.
The startup’s software offers clients three key contracting solutions. First, it lets organizations receive or configure payments as soon as contracts are signed without leaving the platform. It also lets users decide if they want to get paid on a per signature, per response, or recurrent basis.
Second, Clause’s platform allows clients to interpolate their contracts with external Internet of Things devices, application programming interfaces, and accounting and payment gateways. The software’s interconnectivity allows for streamlined workflows and invoicing that matches deliveries, purchase orders and service quality. It also features tools that enable automatic invoicing, credits, and payments.
Third, the company’s CLM solution has functionality that simplifies and expedites processes in industries like finance, insurance, and real estate. The platform can calculate, manage, and record loan payments, real estate transfers, and insurance policy premiums. As it facilitates real-time connections between assets, borrowers, the software automates clients’ financial contract operations.
A Multifaceted, Cross-Industry Solution
The best thing about Clause’s software is its multifaceted nature allows the service a cross-industry solution. Once implemented, its Smart Clauses feature has been used to reduce inefficiencies in advertising, publishing, and legal services.
Furthermore, the company’s smart contracting services also come with a high degree of security. Last year, the firm received a grant from the Tezos Foundation to build a smart contract layer on top of its blockchain. As a result, the company’s partners can be assured their transaction documents are secured by enterprise-grade encryption.
On Sept. 17, 2018, Clause formed a partnership with online legal solutions company LegalZoom to provide DocuSign-integrated smart contracts for businesses and consumers. In a press release, the 18-year-old tech company noted smart contract technology will help it fulfill its mission of democratizing law.
Now that the firm’s services are out of beta, organizations of various sizes and discipline can utilize the company’s time and money saving tools to fulfill their missions. Even better, they can do so under very affordable pay-as-you-go pricing plans that start at $20.
Clause will be a featured startup at Collision 2019 in Toronto May 20-23. Attending executives and founders interested in optimizing their contracting should definitely make time to visit their booth.