Purpose-built for CLM, Ironclad enters the
$25B eSignature market with
innovative signature capabilities that provide executive summaries,
at-a-glance approval chains, and embedded click-to-accept
functionality.
SAN
FRANCISCO, May 14, 2024 /PRNewswire/ -- Ironclad, the
leading digital contracting platform for modern businesses, today
announced the launch of Ironclad Signature and marked the company's
entry into the $25B eSignature
market. Unlike other eSignature providers, Ironclad Signature is
purpose-built with the entire contracting process in mind—providing
critical context from the contract lifecycle and delivering
unprecedented transparency and flexibility for users.
By introducing the first signature tool built from the ground up
to surface relevant contractual information, Ironclad Signature is
designed to speed up the signature process by an estimated 80%.
Ironclad Signature, along with tools like its best-in-class
Salesforce integration (chosen by Salesforce itself), positions
Ironclad to win greater share of the sell-side Contract Lifecycle
Management market—one where speeding up the sales cycle is
critical.
"Electronic signatures have been broken for two decades, and
completely siloed off from the rest of the contracting process.
Your options were to either create a bunch of extra work to
understand what you're signing, or just sign blindly," said
Ironclad CEO and co-founder Jason
Boehmig. "Ironclad excels at giving users the right
information, at the right time. By bringing in deeper business
insights about the process, signers can quickly connect the dots
for a faster, more transparent, and more secure signature
process."
Ironclad Signature brings unparalleled context and
flexibility to eSignature
Ironclad Signature will be
available to customers as an add-on to the Ironclad CLM platform.
By providing users with the right information at the right time,
Ironclad Signature allows teams to:
- Gain instant context before signing with summaries and
approval history: Ironclad Signature reduces time spent in
confirmation loops and context switching by including a
customizable executive summary and full approval history. Summaries
can include 12 key terms, like total contract value or key dates
and terms, and the full approval chain history that gives users a
clear understanding of the contract's journey to their desk.
- Provides unprecedented acceptance flexibility depending on
business needs: built on trusted Ironclad technology that has
already powered over 1 billion acceptances, Ironclad Signature lets
users dynamically toggle between acceptance options for their
contracts, whether that's a signature or a click – even after the
workflow has been launched.
- Unite rich pre- and post-signature data under one roof
instantly: while Ironclad already captures data collected
during the workflow process, later this year Ironclad Signature
tags will also add information collected at the time of signature
in the Ironclad Repository.
"No one wants to blindly sign a contract. Without any approval
history in the signature request, I had to separately communicate
and confirm that the correct approvals had occurred," said
Lindsey Nelson, Director, Legal at
Poshmark. "With Ironclad Signature, our internal signers can now
see the stakeholders who have approved the workflow and then
immediately sign. This has resulted in a much more efficient,
transparent signature process."
"The new Ironclad Signature tool is excellent. Far slicker than
what we used before. Our various cross-functional partners like the
ease of use and speed of Ironclad Signature," said Elie Malkoun, Senior Paralegal at Thumbtack.
"Another big appeal, at least from our side, is seeing who the
approvers are and the seamless transition across all of our
workflows. This not only gives us instant context into the
contracts—but speeds up the entire signature process on the
whole."
Introducing value-based pricing: only pay for contracts that
get signed, not the ones that don't
Where other eSignature
providers charge any time a contract packet is sent out for
signature, Ironclad Signature is priced based on completed, signed
agreements.
"We found that over 20% of contracts that go out for signature
never actually get signed, but most providers still charge for
those signature packets to be sent regardless," said Will Kolbus, Group Product Manager at Ironclad.
"We wanted to design a cost structure based on the reality of how
contracts actually work—understanding that negotiation, or changes,
can happen at any point in the contracting process."
In addition to a more fair cost structure, Ironclad also offers
companies the flexibility to use their existing eSignature tools as
well. Click here to learn more about Ironclad Signature.
About Ironclad
Ironclad is the #1 contract lifecycle
management platform for innovative companies, powering billions of
contracts every year. Salesforce, L'Oréal, OpenAI and other leading
innovators use Ironclad to collaborate and negotiate on contracts,
accelerate contracting while maintaining compliance, and turn
contracts into critical carriers of operational business
intelligence. It's the only platform flexible enough to handle
every type of contract workflow, whether a sales agreement, an HR
agreement or a complex NDA. The company is backed by leading
investors like Accel, Sequoia, Y Combinator, and BOND. For more
information, visit www.ironcladapp.com or follow us on LinkedIn and
Twitter.
Media Contact:
Paul Chalker
paul.chalker@ironcladhq.com
View original content to download
multimedia:https://www.prnewswire.com/news-releases/ironclad-launches-contract-native-contextual-signature-tool-reimagining-how-businesses-sign-and-manage-contracts-302145180.html
SOURCE Ironclad Inc.