Contracting has the power to give even the best of us a massive headache. Legalese, compliance standards, approval requirements, redlining… There are many spots that can create considerable friction.
Contract management is definitely not for the faint of heart.
That’s where a good CLM can swoop in to the rescue.
A contract lifecycle management (CLM) platform is a powerful tool that companies can use to streamline their contracting processes. They provide the ability to guide agreements through every contract lifecycle stage while cutting down on the time, resources, and manpower needed to finalize documents.
AXDRAFT CLM is an example of such a platform. It has the power to manage legal documents from start to finish, regardless of whether they’re at the drafting, approval, or management stage.
AXDRAFT CLM has helped several organizations save up to 80% of time and resources spent on contract management while also enabling legal teams to eliminate mindless busywork.
Ultimately, AXDRAFT’s mission is to support every lawyer in their pursuit of digital literacy while rendering every paper contract a relic of the past. At the same time, we want to free lawyers from routine, give them their time back, enable them to scale their legal services, and delegate contracting to other departments so that their dashboards become less cluttered.
That’s why we’ve crafted AXDRAFT CLM the way we did. We’ve shared the same pains and challenges as many other legal teams, and we want to alleviate those pains. As a result, we’ve done everything we can to ensure that AXDRAFT CLM is a system that is intuitive and easy for business and in-house legal teams to use.
With that being said, we decided now is the time to answer several of the most frequently asked questions.
Is AXDRAFT a document management system?
Yes and no. CLMs and document management systems (DMS) are both capable of creating, storing, tracking, and managing documents. They’re also useful at digitalizing paperwork and keeping files organized or easily retrievable.
In this sense, AXDRAFT, as well as any other CLM, is a DMS.
However, a DMS can’t unlock many of the possibilities that a powerful CLM can open up. A CLM supports the creation of contracts and carries them through their entire lifecycle.
With this in mind, a CLM’s main goals are process automation, time reduction on each step, and empowering non-legal teams to work confidently with legal documents (while allowing legal teams to step in only when necessary).
There are also some functions that come standard in a CLM yet are usually absent from a DMS, such as e-signing, performance management, and obligations management.
So to answer the original question: AXDRAFT is a document management system in the sense that it can do everything that a DMS can do. However, AXDRAFT can do much more than a DMS thanks to its special features that specialize in contract management.
What is an AXDRAFT Contract?
An AXDRAFT contract is an automated contract that’s created via AXDRAFT. Even contracts initiated via a Pipedrive or Salesforce integration are AXDRAFT contracts as the document was generated within AXDRAFT.
The secret sauce to an AXDRAFT contract is the AXDRAFT template.
Each automated AXDRAFT template contains all possible variations for clauses used by the company, the necessary fields mapped out, and the type of data expected. They’re assembled based on existing contracts, but we ensure the language is standardized, optimized, and most beneficial.
And since the templates we work with are provided and approved by your legal team, they satisfy your company’s compliance requirements.
What products does AXDRAFT offer?
With AXDRAFT, you only pay for what you use – No surprises, no secret fees, no hidden payments. That way, you can scale whenever you feel ready.
To that end, AXDRAFT offers several products depending on your needs:
- AXDRAFT CLM – As our flagship product, our CLM allows you to exert complete end-to-end control over all your contracts.
- Document drafting – Our document automation engine relies on automated templates to draft massive 100-page documents in the time it takes to draft small one-pagers.
- QuickDocs – Our self-service contracting platform allows you to completely delegate simple contracting to non-legal teams, clients, and third parties with no need for your legal team to get involved.
- Collaborative Editor – Our native document editor facilitates better real-time side-by-side collaboration and redlining.
- CRM integrations – Our CLM platform can be integrated with Pipedrive CRM and Salesforce CRM to enable your sales teams to speed up sales cycles.
If there’s a product that you would like but which isn’t on our list, please feel free to reach out to our sales team at [email protected] and let us know.
What makes AXDRAFT self-service unique?
Many contract management software providers say their product automates contracts. However, input is still required to ensure documents proceed from one stage of the contract lifecycle to the next.
That’s where AXDRAFT QuickDocs is different.
What makes our take on self-service contracts unique is that AXDRAFT self-service contracts are 100% hands-free. Contracting gets delegated to clients and third parties, and contracts require zero actual input from your legal team.
How? Here’s the breakdown of the process:
- You send us the template of the contract you want us to automate for you.
- We provide you a public-facing link to the template that you can either embed on your website or send to your clients in a message.
- Your client clicks on the link, fills in the information by answering simple questions, and submits it.
- Your client receives a perfectly structured, approved, and signed contract while the data is stored in your system.
Why is AXDRAFT so cheap?
Depending on the requirements and functionalities, CLM systems can skyrocket in price. For instance, the cost of Ironclad usually starts from $50K for mid-market companies and $150K for enterprise organizations. By comparison, AXDRAFT costs just $600 per month, and we manage all the automation for you (while other CLMs often supply you with DIY automation toolkits).
The reason for the massive gap in prices is because of our mission. Our goal is to enable contract management achievable for more than just enterprises. Not only do we wish to help legal teams, but we want to support sales, procurement, finance, and any other non-legal unit.
Accordingly, we aim to make AXDRAFT accessible and affordable for any and all companies, regardless of whether or not they’re in the Fortune 500 or a local startup.
Do you need a CRM to use AXDRAFT CLM?
Nope! But if you already have a Salesforce or Pipedrive account, you can integrate AXDRAFT CLM with your CRM and enjoy a sizable discount. All you need to do is let us know and we’ll set it up for you.
But if you don’t have Salesforce at the moment, you’re still able to use AXDRAFT CLM, QuickDocs, or any of our other products. What’s even better is that we’ll roll out your CLM for you in two weeks, which is the fastest in the industry. And since we do all the automation heavy-lifting for you, you can sit back and relax without worrying about if it’s being done right.
But if you don’t have Salesforce at the moment, you’re still able to use AXDRAFT CLM, QuickDocs, or any of our other products. What’s even better is that we’ll roll out your CLM for you in two weeks, which is the fastest in the industry. And since we do all the automation heavy-lifting for you, you can sit back and relax without worrying about if it’s being done right.
Can AXDRAFT CLM integrate with e-signature tools?
Absolutely! AXDRAFT CLM can be customized to support any e-signature provider, such as DocuSign and Adobe Sign.
This allows you to push your contracts across the finish line without fear of stalling. Not only can you collect signatures without requiring your clients to register, but you can gather and store signee data for future use.
AXDRAFT CLM also features its own native e-signature service – AXDRAFT Sign – that comes automatically included. Contracts can be signed in one click without having to switch tabs or providers.
One more consideration – e-signature software can be easily integrated with automated workflows. For instance, if your client e-signs an NDA in AXDRAFT QuickDocs, a sales proposal or SOC II report can be automatically sent to them.
Who is Drafty?
Drafty is our friendly neighborhood mascot who just so happens to be a robot that loves to draft.
One of his favorite pastimes is to free in-house legal teams from menial work and mind-numbing routine.
According to his family, his ancestor was the famous Pressy, who worked with Johannes Gutenberg in creating the first printing press, which freed countless scribes from tedious handwritten recordings and manuscripts.
Drafty hopes to achieve much the same by helping drive in-house legal into a new era where they can focus more on legal projects and less on routine admin.
Drafty, by the way, is a rather intrepid fellow who goes on countless adventures. Check out the latest edition of our Draft the World comic series, which reveals his numerous exploits.
How does AXDRAFT CLM’s pricing work?
AXDRAFT offers two pricing plans: volume-based and seat-based.
We strive to guarantee there are no surprises, no questionable fees, no hidden payments, and no unnecessary functions. You pay only for what you use and nothing more.
For instance, if your company already has a subscription to an e-signature provider like DocuSign, then you won’t be charged for any e-signatures.
Or even though AXDRAFT offers a native document editor (Collaborative Editor), you can choose not to use it. Instead, you would simply upload documents that need approval or redlining within AXDRAFT. As a result, you wouldn’t have to pay for our Collaborative Editor since you didn’t use it.
Here are the specifics of each plan:
AXDRAFT’s basic features include document drafting, notifications, to-do lists, mobile access, data histories, metadata, storage, analytics, and reporting.
Can I customize which features are included in AXDRAFT CLM?
Definitely! AXDRAFT was designed specifically with this purpose in mind.
AXDRAFT CLM can be customized to include powerful features such as 2FA security, AXDRAFT Sign (e-signature solution), branding/visual customization, Collaborative Editor, and conditional approval flows.
How long will implementation take?
AXDRAFT CLM takes 2–4 weeks to roll out.
However, what’s special about this is that it’s done for you at no extra cost. All automation heavy-lifting is done for you.
All you need to do is send us the templates you want automated and test to make sure everything works on your end.
Do you offer any tutorials or training sessions?
Absolutely! Not only do we provide tutorials when we set up the software, but we also provide training sessions for any new features. You’ll also be supplied with guides and manuals on how to ensure you’re getting the most out of our software.
That being said, we’re always ready to give you any additional support you need. If you’d like additional tutorials or training sessions to refresh your knowledge or onboard new employees, we’re happy to do so at no extra cost.
Is there a “real” account manager?
At AXDRAFT, we value our clients, and we strive to be the best CLM partner you could wish for.
That’s why you’ll never be forced to discuss account issues with a bot or wait until the next workday to resolve a problem. Our automation team is standing by 24/7 in case anything happens and you have an issue that needs to be addressed immediately.
Does AXDRAFT CLM support multiple languages?
Yes! 😎AXDRAFT CLM supports 43 different languages. However, we are able to support any additional languages you may need.
Wrapping Up
AXDRAFT CLM supports companies in their efforts to effectively manage contracts at every stage, from the moment they’re drafted to the day they’re renewed or terminated. Our CLM ensures you’ll have full visibility into your contracts while cutting out mindless routine and the risk of avoidable errors.
We’re also more than happy to meet you halfway. If you’re already using a CRM, we’ll give you a hand in setting up an integration with our CLM. Or if you currently use a different CLM (and you’re thinking of switching), we’ll help you migrate, even if it’s a legacy software with no simple export function.
Want to find out more about how AXDRAFT CLM can help your company scale? Reach out and book a demo with our sales team.