Law firm Monard Law and software developer Contractify join forces to manage contracts proactively. This “preferred partnership” creates a digital breakthrough in the legal world.
After the contracts are scanned, they are stored in a digital safe: you simply cannot say “I can’t find the contracts” anymore. Afterwards, the contracts are monitored automatically and continuously. This is a unique system available in our country, which relieves clients of their worries even more. “Contract management is a service offering.”
An average-size company has around 120 contracts in circulation. But what happens to them once they are signed? Who follows up on them and oversees their performance? Was the carefully negotiated volume discount actually applied? Does anyone know exactly when a contract should be extended or when it should be renegotiated?
Contractify and Monard Law have found the solution: You can consult the contracts easily in the digital safe at any time—and you can manage them proactively.
Monard Law CEO Karen Braeckmans says, “We place the contracts in a digital safe archive and work on them proactively. What this means is that the software scans the contracts, checking them for legal soundness and legal resilience. Many contracts are often renewed without anyone’s knowledge or intention. And there are also the legislative changes that are enacted. These certainly affect the validity of the contracts, among other things, in certain situations. If the software sends out an alert notification, our lawyers assess the issue and determine what must be done. In this way, clients can avoid unnecessary costs or unpleasant surprises. This is how we can relieve our clients’ worries. Our cooperation with Contractify for this is certainly an added value.”
“Contract management as a service”: To achieve this, Monard Law and Contractify have created a “preferred partnership” together. Contractify provides the software, while Monard Law provides the legal advice and follow-up work. What is unique about this solution is that it is tailored to the many clients whose contracts are not managed actively at this time. Once the contracts are placed in the digital safe, Monard Law’s legal specialists are able check whether these contracts are still up-to-date. If they are not, the lawyers discuss with the client how to tackle this. This process would potentially lead to a new contract or amendments and completions to an existing contract.
Steven Debrauwere and Herlinde De Buck, founders of Contractify, say, “The continuous verification process of whether the contracts are still legally up-to-date is absolutely an important added value. At this time, there are already around 50 companies that use our software. The software runs as if it were conducting a permanent audit of contracts. Moreover, Monard Law’s helpdesk of legal specialists provides truly an added-value service. Cooperating with Monard Law is therefore very crucial for us in fully achieving the added value of our product.”
Lawyer and Project Manager Damian Brodzinski at Monard Law says, ‘’This is an extra service that we can offer to the clients of Monard Law. Drafted contracts are centralized and managed proactively. Legal services do not end after the signing of the contract or whenever a problem arises. It is impossible to imagine legal services nowadays without legal technology. Monard Law aims to be a forerunner at this by being able to offer this additional service to our clients.”
