Smarter Buy-Side Contracting with AI
To keep pace with rapid innovation–especially in the AI space–digital transformation has become paramount to both stay ahead of the curve and streamline inefficiencies. And while contract lifecycle management (CLM) systems are traditionally associated with legal teams, we see many different parts of the organization harnessing Ironclad in innovative ways. At our second Ironclad Live Virtual event, we dove deep into how teams both in and outside legal have leveraged Ironclad to tackle buy-side contracting.
What We Covered
During this virtual event, we brought highlights from Ironclad Live: NYC, which was held at the iconic Historical Society Museum & Library. The event featured a keynote from Ironclad co-founder and CEO, Jason Boehmig, plus a panel of legal and procurement leaders from Ferguson, Lattice, and Ocrolus. We dove deep into:
- How to use a CLM to centralize, simplify, and speed up the buy-side contracting process
- How to mitigate risk from onboarding and supplier management
- Tips and tricks on using contract data to uncover cost-saving insights
- How Ferguson, Lattice, and Ocrolus leveraged Ironclad to optimize their buy-side contracting processes.
We also unveiled a slew of new feature enhancements, including:
- A new “Contract Status” feature that lets teams see the status of a contract based on its effective data, renewal type, and expiration date wherever records are available
- Auto-renewals, which allows users to automatically renew contracts that they have labeled as “auto-renewing” and instantly update relevant metadata like new expiration dates
- Entities, which lets users see a unified view of all data about a party in a contract, including party objects and the party’s place in the hierarchy of an organizational relationship
- An enhanced OneTrust integration, which pulls in existing vendor details from OneTrust to create a contract in Ironclad and simultaneously creates a new engagement in OneTrust
…and more! To hear more about these enhancements, watch the full recording.
Thanks for joining us for Ironclad Live. If you’d like to learn more about how Ironclad can speed up buy-side contracting for your business, get in touch with our team.
Ironclad is not a law firm, and this post does not constitute or contain legal advice. To evaluate the accuracy, sufficiency, or reliability of the ideas and guidance reflected here, or the applicability of these materials to your business, you should consult with a licensed attorney. Use of and access to any of the resources contained within Ironclad’s site do not create an attorney-client relationship between the user and Ironclad.