Large-scale contract review can be time-consuming, mundane and inefficient. However, effective contract management is a critical component of operating a successful business.
There are many affordable and easy-to-use tech tools available that can streamline the contract review process, saving both time and money. Lander & Rogers' iHub specialises in customising contract review solutions that remove the risks and inefficiencies associated with reviewing contracts.
Below is a case study detailing a customised app the iHub developed to streamline the contract review process.
Lander & Rogers was instructed by a client to develop an app to simplify their contract review process. The client, a specialised consultancy that focuses on design and advancement of built environments, receives a large volume of contracts with terms for negotiation, which are initially reviewed by project managers followed by a director. The client wanted to develop an educational resource to assist project managers at all levels of expertise to complete contract reviews accurately and efficiently.
Reviewing contracts for risk where similar terms can be presented differently from one contract to the next, generally relies on the reviewer's experience and understanding of what the relevant clauses mean. Without guidance, the process can be difficult and confusing, particularly if the person undertaking a contract review does not have a legal background.
Lander & Rogers set out to simplify the client's contract review process by automating workflow and equipping project managers with the tools and knowledge to identify any potential red flags.
Our team developed a web-based application to seamlessly guide project managers through a contract review by:
- simplifying onerous clauses into a series of questions accompanied by examples and explanations
- producing dynamic risk ratings and recommended steps based on the answers provided
- compiling key information into an automatically generated and customised departures schedule
- integrating workflow to allow seamless updates to the departures schedule and authorisation of contracts.
The app instils consistency in the contract review process and ensures that crucial details are not missed, while reducing time spent addressing unnecessary queries.
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