"AI Assistant helps us get to the outcome we want in negotiation faster"

3Commas is a leading developer of crypto trading software. 3Commas was founded in 2017 and has more than 100 employees across Europe and beyond.

The challenge: too much time on contracts

3Commas operates successfully with a lean legal team, but its contract process was causing headaches. Although there was a contract lifecycle management (CLM) platform in place, it wasn’t providing satisfactory results and was generating inefficiencies of its own, as Legal Counsel Yuliia Andrusiv explains.

“Our workflows were leading to slower turnaround times. In general, contracts were proving to be a time-consuming process, with unpredictable results from the platform we were using.”

3Commas processes healthy volumes of employment and related contracts, as well as service agreements and other commercial contracts. To make agreeing these documents as frictionless as possible and support the business in hitting its targets, Yuliia and her team needed to upgrade their CLM.

Contracts were proving to be a time-consuming process, with unpredictable results from the platform we were using - Yuilia Andrusiv, Legal Counsel, 3Commas

The requirements: a reliable, flexible platform

3Commas needed a platform that was:

• Reliable: having experienced mixed results with CLM before, it was important to find a stable, mature platform that could offer excellent service levels
• Intuitive: the platform needed to be user-friendly in order to ensure quick adoption in the business
• Flexible: the 3Commas team would need to integrate contracts with other key systems, like OKTA and HiBob

3Commas selected Juro to replace their existing CLM and implemented the platform in December of 2022. The team was then one of the first amongst Juro’s 6000 customers globally to implement AI Assistant in mid-2023.

The solution: effortless contracting, game-changing features

3Commas took advantage of Juro’s market-leading implementation and support capabilities, getting new contract workflows up in no time. “Implementation was quick and easy,” says Yuliia. “We use the chat support and we love it - the Juro team is always very quick, concise and helpful if we have issues or questions.”

Yuliia and her team set up an end-to-end workflow, where users in the business can:

• Create contracts from templates controlled by legal
• Collaborate internally with colleagues
• Negotiate with counterparties in-browser
• Sign, store and track documents securely
  

The team also integrates Juro with HiBob to speed up contracting for the HR team. “A colleague in HR can select an employee profile, then choose a contract type, like an employment contract, and Juro auto-creates the document using all the relevant data from HiBob,” Yuliia explains. 

“HR can just check the information briefly and send it for signing. We also use mass-create and mass-sign for common documents, like option agreements - that’s a game-changer in terms of time saved,” Yullia says.

The advantage: agreeing contracts faster with AI Assistant

In 2023, the 3Commas team was one of the first to adopt Juro’s AI Assistant, which offers AI Draft, AI Review and AI Summarize capabilities within the Juro editor. By leveraging the latest in generative AI, users can turn around contracts up to 90% faster, whilst staying in control.

Juro's AI legal assistant is faster and more convenient than ChatGPT because it analyses all the context from the contract itself

Yuliia uses AI Draft to generate new clauses and language during negotiations with counterparties on service agreements. “The counterparty might leave comments and amendments, but not propose a version of the clause. Juro’s AI function handles that for us and creates a clause when we need it,” Yuliia explains.

AI Assistant differs from regular LLM platforms in that it analyses the whole context of the document before offering solutions and responses to prompts. Yuliia notices the difference: “the draft clause I get back is always really on-the-money.” Users can even input playbooks to set guardrails that guide the responses returned by AI Assistant.

The draft clause I get back from Juro's AI Assistant is always really on-the-money

Deploying AI Assistant directly from the CLM creates huge efficiencies for the 3Commas team. “It’s faster and more convenient than ChatGPT because it analyses all the context from the contract itself,” says Yuliia, “and we can stay within our contract platform without having to switch between different tools.”

The results: faster negotiation, powered by AI

By switching to Juro, 3Commas was able in a matter of weeks to implement a reliable, stable, flexible CLM that integrated with key systems like HiBob. 

Commercial colleagues are able to self-serve on contracts and get them agreed at scale, with the lean legal team staying in control. Game-changing features like mass-create and mass-sign make life easier for the business as it continues to grow.

Juro’s unique AI Assistant accelerates the productivity gains even further, empowering the team to draft new clauses in seconds: “it definitely helps us get to the outcome we want in negotiation faster,” says Yuliia. “AI is a big part of our future as legal teams, and it’s great to be able to use it so easily for our contracts.”

“We’re very satisfied with Juro - I would recommend it to anyone who doesn’t use it.”