Simply binding: Why we’re crazy about Ironclad

The company: Ironclad

Ironclad is a digital contracting platform that industry leaders like L’Oréal, Mastercard, and Dropbox rely on to enable agile, collaborative, and data-driven contracting. By streamlining contract workflows from requests to approvals to storage, Ironclad creates a single source of truth for contracts and data. It is the only platform that handles every type of contract, no matter the use case or complexity.

Ironclad is proud to be a company that values diversity and inclusion. Almost half the company is female and 75% of the executive team are minorities or women. In 2019, Ironclad was featured on CloserIQ’s list of 10 San Francisco Companies with the Best D&I Programs. Read more about Ironclad’s commitment to inclusion, diversity, and culture here

Why you should pay attention 

Contracts are the atomic unit of modern business. Companies depend on successful contract management to drive relationships and mitigate risk.

But in today’s increasingly interconnected and rapidly changing world, the costs of contracting have never been greater. According to the IACCM, companies are losing 9.2% of annual revenues due to poor contract management. This doesn’t even take into account the opportunities lost to fragmented contracting processes or the cost of getting contracts done — $21,300 for a mid-complexity contract, and hundreds of thousands for a high-complexity contract. Ironclad enables businesses to be agile, efficient, and intelligent in managing every type of contract across departments. 

The details

Ironclad provides intuitive software that lets companies keep pace with the changing demands of modern business. Companies that fail to effectively manage risks or take advantage of new opportunities in today’s world risk getting left behind by competitors who have adapted better. Ironclad helps teams build and deploy scalable contract processes, work seamlessly with internal teams and counterparts, balance the need for speed and compliance, and make data-driven decisions from contract data.  

How it works

Ironclad lets customers build workflows for their contracts in minutes. 

  • Workflow Designer is a self-serve tool that helps legal teams create and enforce contract policies, without long implementation times or the need for technical expertise. With a straightforward drag-and-drop user interface, customers can build and launch contract generation and approval processes in minutes.
  • A full suite of collaboration and negotiation capabilities helps legal teams manage the contract redlining and revision process in one place — without forcing counterparties to do the same. 
  • Dynamic Repository is the only user-friendly, enterprise-grade contract repository in the contract management space.

Why were obsessed 

Especially during times of uncertainty, legal teams play a crucial role in helping businesses navigate risk and survive. Ironclad is not only a contract management tool, but also a comprehensive platform that lets legal teams collaborate remotely, maintain data integrity, and get the answers they need in seconds. Whereas onboarding and integration with standard contract management tools can take months, Ironclad’s team of experts in legal workflow and technical implementation helps customers onboard and iterate quickly. They are on track to become the leading trusted provider of legal software.

Get involved

Interested in the digital transformation of legal? Join Ironclad’s community of legal professionals to access events, webinars, and monthly newsletters and see how the product works.

We believe culture, diversity, and operational excellence are a key part of building truly great companies. Learn more at www.operatorcollective.com or on Twitter and LinkedIn.