The only solution built for mass scale in the digital age, Ironclad now powers more contracts than any other contract lifecycle management (CLM) platform on the market
Ironclad, the leading digital contracting platform, today announced it has powered more than one billion contracts on the platform, and is currently on track to process another one billion in 2022 alone. The company, which has helped innovative customers like MasterCard, L’Oreal, Snap, Inc., and Demostack digitize their contracting process from start to finish within a single, browser-based platform, grew users on the platform by more than 195% year over year.
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“The world is changing, and companies are moving to the digital sphere en masse. The pandemic has played a big role in fueling this innovation out of necessity, but many companies in the CLM space are fundamentally unequipped for this digital future,” said Mallun Yen, General Partner of Operator Collective, an investor in Ironclad. “Companies are dealing with higher volume requirements than ever before, so having this ‘digital readiness’ is the only way to keep up. Because of this, Ironclad has emerged as the most powerful solution on the market, and we’re excited to join them as they shape the future of digital contracting.”
Ironclad is a digital contracting platform that lets companies create, manage, execute, and extract data-driven insights from any type of business contract. The only solution on the market with a completely self-service workflow designer and 100% DOCX-native, browser-based editor, Ironclad also streamlines contract collaboration through shared drafts, track changes and version history, commenting functionality, and more.
Companies like Snap, Inc and Demostack use Ironclad to solve complex contracting problems by streamlining their contracting in innovative ways – from managing massive volumes of contracts to creating scalable, easy-to-use processes for managing contracts.
Snap, Inc. is a camera company that uses Ironclad Clickwrap to handle the massive scale at which they execute their commercial service agreements (CSAs). The team at Snap chose Ironclad Clickwrap to streamline these high-volume CSAs.
“A single ad account can have dozens of work orders a year, and although the overall campaign would be high-value, the CSAs themselves would be relatively low dollar values. This was causing a lot of friction with advertisers needing escalations and internal legal approvals,” said Sheena Ferrari, Head of Global Legal Operations at Snap. “Since we started using Ironclad Clickwrap, time to acceptance is down a ton, so our reps are happy, and our legal team is saving dozens of hours a month not having to field questions or manage these lower value agreements.”
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Demostack, a company that lets revenue teams create demo environments within minutes, uses Ironclad CLM to manage contracts across the entire company, from sales, to finance, procurement and more. Ironclad’s user-friendly nature has led to a high level of adoption within the company, which allows them to gain valuable data-driven insights from the platform.
“My goal is to deliver a process in a system that people want to use. If I don’t get high adoption, I’m never going to get the results I want, like robust analytics, a clean contract repository, etc,” said David Wieseneck, CFO of Demostack. “By moving our contracts out of emails and shared folders and into Ironclad, we eliminate confusion around the contracting process. Ironclad has given us robust business insights beyond what you typically get with a CLM, and is accelerating business outcomes in ways we didn’t really think were possible. Most companies wait way too long to implement this type of technology – we invested early and it’s paying dividends.”
“We’re seeing a rapid, cross-industry shift of business contracting moving online, which means vendors need to meet users where they live – on their browsers and in their apps,” said Ironclad CEO and co-founder, Jason Boehmig. “And this is something that’s happening as we speak, not in some near-distant future. Contracting in industries like eCommerce, whose business models require online experiences and massive scale contracting, hint at the future of contracts. Ironclad allows our customers to be ahead of the curve with innovative solutions like clickwrap and API-driven contracting in order to capitalize on that future.”