Slack is the main mode of communication for many businesses. But what role does it play when it comes to contract collaboration, and is there a better way to manage your contracts via Slack? Let’s find out.
What is Slack?
Slack is a popular cloud-based messaging and collaboration platform used by businesses that want to make communication between internal teams more efficient.
Slack users can chat via channels organized by topics and projects, or message individuals privately through direct messaging chats. Businesses that use Slack can also share files and make calls through the platform. They can also connect it with various other platforms to automate routine admin tasks and increase productivity across the organization.
One of the best examples of this is how Slack integrates with contract management platforms like Juro to streamline communication for contract-related tasks and keep teams in the loop about the status of a contract.
How is Slack used in a manual contract workflow?
Slack is the main communication platform for many businesses, and it plays an important role in the contract process as a result.
From notifying stakeholders about new comments to requesting legal’s approval on a contract, Slack is used to communicate which changes have been made to a contract, and what action is required.
The problem is, this process tends to be a manual one. Contract owners have to constantly review contract drafts and emails, then move into Slack to manually notify stakeholders about any updates.
Not only is this time-consuming, but it’s also an inefficient way to spend already limited resources. We all know that burying your teams in low-value admin prevents them from focusing on higher-value tasks, and manual Slack processes do just that.
The biggest problem, however, is how much friction it creates for commercial teams that want to get contracts signed quickly. Manual updates will only be shared when the contract owner has free time, meaning comments and redlines can be left unanswered for days, sometimes even weeks.
This prevents teams from being able to collaborate on contracts in real-time and draws out sales cycles and hiring processes. In some instances, it can even result in lost opportunities and candidates.
Now imagine if all of this routine contract admin and communication could be automated, and notifications were shared in real-time…
Slack contract management: a better approach
Juro is a collaborative all-in-one contract management platform that integrates seamlessly with Slack to provide real-time contract updates and keep teams in the loop about contracts - with no manual admin work required.
Rather than reviewing contracts frequently and providing updates in Slack manually, certain events in Juro will trigger a notification in the relevant Slack channel. These events could include a new comment left by a counterparty (as seen below), or a contract approval request.
Juro users can even set up a trigger so that the relevant channel is notified when a contract gets signed, allowing your teams to celebrate closing those big deals together.
Not only does this give your teams back time to focus on higher-value tasks, but it also means no more switching between tools, increased contract visibility and the opportunity to get contracts agreed faster.
To find out more about Juro’s integration with Slack, hit the button below to book a personalized demo. Otherwise, read on to find out how our customer, Funnel, uses our Slack integration to streamline legal review and collaboration.