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Ever wondered what the monetary impact of your contracts is?
Not how much they are worth, but what is the cost of efficient contract management?
This is something we often wonder about at SpotDraft and discuss it with GCs across the world. Over the last week, we turned those conversations into a nifty calculator that you can use to understand how your contract management process affects your business.
Tip: If you are evaluating tools to manage your contracts, this is a great way to allocate a budget.
The best part about this calculator is that it works on approximates - just a ballpark number would work just fine. It is broken down into TWO major factors:
- Time on contracts processed: this includes creation, review, information retrieval, and more.
- Cost: tools that you might be using, cost on external counsel, etc.
Download SpotDraft’s Contract Cost Calculator and have a look for yourself.
P.S. - If you have notes on how we can make this better, do write to me at kevin@spotdraft.com.
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