The Digital Contracting company unveils industry-first product developments fueled by recent acquisition at keynote event
At today’s State of Digital Contracting event, Ironclad unveiled Clickwrap, a new product for managing online agreements, and a never-before-seen set of features for Ironclad’s contract lifecycle management (CLM) product.
Clickwrap contracts (also known as clickthrough, click-to-accept contracts) are digitally native, legally binding online agreements that don’t require a signature. They are executed when the user clicks on a button that displays acceptance language or checks a box next to acceptance language. The use of clickwrap contracts has continued to rise with billions of agreements processed each year.
Ironclad Clickwrap (formerly PactSafe, which Ironclad acquired earlier this year) helps companies manage the agreements embedded in apps, websites, and other digital experiences. The product handles millions of agreements per month for brands like DoorDash and Wayfair, while capturing evidence to ensure the contracts are legally enforceable. Today, Ironclad announced that Clickwrap will now be available alongside CLM on Ironclad’s digital contracting platform.
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Bringing click-to-accept to CLM
As ubiquitous as clickwrap contracts have become in consumer experiences, they are rare in B2B agreements, where eSignature is the common standard. At today’s event, Ironclad asserted that in the future, businesses will strategically choose the best mode of acceptance to optimize for contract speed and counterparty experience.
“Clickwrap will have a profound impact on how businesses handle all types of contracts — not just terms of service,” said Brian Powers, GM of Clickwrap at Ironclad. “By combining these proven technologies with Ironclad CLM, our customers will unlock consumer-type contracting speeds for contracts in sales, procurement, and legal.”
Ironclad announced a new set of features for CLM that allows for clickwrap and eSignature to be used interchangeably across all types of B2B agreements — a first among CLM providers. Additionally, new Public Workflow features provide public-facing links and dynamic launch forms, enabling completely self-service workflow for B2B counterparties.
“As a legal operations professional, I’m always looking for ways to improve our processes. So when our legal engineer approached me with the idea to try clickwrap, I was excited to test it out. We decided to start with our creative service agreements, which are high volume, transactional agreements that had been experiencing some friction,” said Sheena Loren Ferrari, Head of Global Legal Operations at Snap. “Since converting these to clickwrap, our time to acceptance is down, our sales reps are happier and our legal team has saved dozens of hours each month.”
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