The cost of poor contracting and negotiations

Contracts are business critical

Image by Mari Helin

The costs of a low risk contract from authoring to signature is $6900 and a high-risk contract is $49000 per contract!

Bad negotiations translates to revenue loss

Image by Nicolas COMTE

9.2% of annual revenue is lost due to bad negotiations. This is upto 15% for larger businesses

Missing Contracts

Collaborating at Work

71% of companies are unable to find 10% or more of their contracts. Lost contracts are costly because of revenue loss!

Why does this happen?

No legal background

Frontline sales teams end up with complex contracts to review with very litte legal background

Poorly drafted contracts

High risks to the business stemming from contracts affecting revenue recognition and risks of contractual disputes

Terrible turnarounds

Legal counsel is busy, unavailable or simply not hired yet. Negotiations are amateurish at best.