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October 29th, 2024

5 Compelling Reasons Why Businesses Are Choosing MSB Docs’ AI-Enabled CLM and eSignature Solution

 

Have you ever considered how much time, money and effort your business is wasting on outdated contract management and approval processes? What if there was a solution that could reduce delays, eliminate manual errors, and get deals done faster – all while ensuring compliance and risk management?

Well, it’s already here.

Companies are learning that their old ways of managing contracts just aren’t cutting it. MSB Docs’ AI-powered Contract Lifecycle Management (CLM) and eSignature Solution are changing the way businesses manage their most important documents and stay ahead of the game.

But why are so many businesses making the switch? Here are 5 reasons why MSB Docs is the solution for businesses looking to transform their contract management and signing workflows:

1. AI-powered Contract Management: Less Manual Effort

Contracts are essential but managing them manually is a nightmare. Every clause, revision and negotiation must be handled meticulously to avoid mistakes and ensure the final agreement is legally binding. Unfortunately, human error is inevitable when hundreds (or thousands) of contracts are being managed at once.

With MSB Docs’ AI-powered CLM, these problems disappear. The AI automates contract creation, review, and negotiation. It suggests optimal terms, detects non-standard clauses, and ensures every version is tracked and compliant. Imagine a system that understands the changes your legal team typically approves, flags those sections for faster review, and significantly reduces the need for endless back-and-forth emails.

With the Native Microsoft Word Editor, there’s no need to learn a new tool. You can draft and edit directly within Word, while still enjoying the full power of contract management—right from the interface you already know.

The Virtual Contract Assistant acts as your intelligent guide, providing real-time suggestions to streamline contract negotiations. Whether you’re redlining documents or adjusting terms, AI is with you every step of the way to make the process faster and more efficient.

Business Impact: One of our technology clients implemented MSB Docs and experienced a 35% reduction in contract turnaround time. They now close deals faster without sacrificing quality or compliance.

2. Effortless eSignatures: Speed up Approvals

In a world of instant communication and rapid decision-making, waiting days or even weeks for a physical signature can be a deal breaker. Traditional wet signatures not only slow down processes, but also introduce inefficiencies. Misplaced documents, missed signatures, and the constant back-and-forth of mailing or emailing can cost businesses valuable time and money.

With MSB Docs’ eSignature solution, these delays are a thing of the past. With eSignatures, contracts can be signed from anywhere, at any time, in minutes. The process is 100% paperless, reduces administrative overhead, and increases operational efficiency.

Whether it’s the legal team, sales, HR, or external partners — everyone involved in the contract approval process can access, review, and sign documents digitally.

Self-serve contract intake empowers departments to generate contracts independently within pre-approved parameters, eliminating unnecessary delays caused by legal bottlenecks.

Real-world results: Businesses using MSB Docs have reported a 50% reduction in the time spent obtaining signatures, enabling them to close deals in record time.

For example, one financial services firm that previously struggled with manual signing processes turned to MSB Docs. By implementing eSignatures, they accelerated both internal approvals and external contract signoffs, reducing their 2-week approval process down to just a few hours.

3. Stay Compliant and Mitigate Risk with AI Insights

Contracts don’t just need to be signed—they need to be accurate. Non-compliance can lead to serious legal risks, especially for businesses in highly regulated industries like finance, healthcare, and government. This is where MSB Docs’ AI-powered contract analytics and discovery tools provide a robust solution.

The system ensures that businesses maintain compliance by scanning contracts for non-standard terms, potential risks, and legally non-compliant clauses. The AI-powered contract extraction features identify critical elements in your contracts, ensuring they adhere to legal and regulatory standards, providing peace of mind.

The centralized contract repository adds an extra layer of control. Imagine never having to search through countless emails or shared folders to find a particular contract again. Instead, all contracts are securely stored in one place, easily searchable, and fully auditable.

Compliance benefits: Businesses using MSB Docs have reported a 20% improvement in contract compliance audits, along with significant reductions in time spent identifying and mitigating contract risks.

Consider a healthcare company managing hundreds of vendor agreements. Before MSB Docs, compliance checks were manual and time-consuming, often taking days to ensure every contract met industry regulations. After implementing MSB Docs, the company cut that time in half and never missed a compliance requirement again.

4. Seamless Integration with Your Existing Tools

Let’s face it: switching between multiple tools and platforms just to complete a task is frustrating and inefficient. A common concern when adopting new technology is how it will integrate with existing systems. With MSB Docs, you can put those concerns to rest.

MSB Docs offers flexible data integration with all your existing systems, including CRM, ERP, accounting, and project management tools. This ensures that contracts flow seamlessly across departments and platforms without duplicating work or requiring additional manual input.

For example, sales teams can generate contracts directly from the CRM, legal teams can review and approve them, and accounting teams can track the financial obligations—all within one integrated system.

Furthermore, 360-degree collaboration ensures that both internal teams and external stakeholders stay aligned throughout the entire contract lifecycle. Managing approvals, assigning tasks, and maintaining visibility into the contract’s status at every stage becomes effortless.

Streamlined workflows: Many businesses have experienced smoother contract processes and improved cross-department collaboration with MSB Docs.

One global enterprise client reported that MSB Docs reduced their contract management time by 40%, allowing teams to shift their focus to higher-value tasks.

5. Capture Obligations and Meet Key Deadlines

The contract is signed—now what? For many businesses, this is where things can start to fall apart. It’s easy to lose track of contract obligations, renewals, or milestones once the ink has dried (or in this case, the digital signature is applied).

MSB Docs ensures that critical contract dates, obligations, and milestones are never overlooked. The platform provides automated alerts and reminders, ensuring you never miss a contract renewal, performance review, or payment milestone. It even prioritizes obligations in a worklist, keeping the most critical tasks front and center.

Additionally, performance monitoring enables businesses to track how effectively they’re adhering to their contract commitments. You can monitor the status of deliverables and receive real-time updates on whether you’re meeting or exceeding your obligations.

Efficiency gains: Clients who use MSB Docs report a 30% increase in contract renewal rates thanks to timely alerts that ensure critical deadlines and opportunities are never missed.

One international consulting firm previously struggled to stay on top of contract renewals, missing several lucrative opportunities as a result. After adopting MSB Docs, they were able to track every contract renewal and obligation with precision, leading to significant improvement in their overall contract performance.

Conclusion

In the digital era, businesses that fail to modernize their contract management processes risk falling behind. MSB Docs’ AI-powered CLM and eSignature Solution offers the ideal solution for companies seeking to improve speed, accuracy, and compliance, all while reducing operational costs. From drafting and negotiating contracts to signing and managing them post-execution, MSB Docs streamlines the entire process.

Are you ready to transform your contract management? Book a demo today to discover how MSB Docs can help your business close deals faster, reduce risks, and improve efficiency across the board.