The Negotiation Playbook Automator is designed to interactively check your standard corporate terms and rulebooks against documents and contracts to quickly identify risks, deviations and negotiation potential. This also ensures a more consistent approach and mitigated risks. The Playbook Automator can also be integrated with contract analysis tools to identify key provisions in a negotiated document and determine – using a sophisticated customizable risk scoring model – the risk profile for each of the terms identified. In short, it enables in-house professionals to digitize their negotiation playbooks/rulebooks. The tool can be easily adapted and customized to accommodate your playbooks for all manner of business as usual documents (e.g. NDAs, parent company guarantees and terms and conditions).
Reviewing NDAs and parent company guarantees can be a time consuming and costly exercise. In most companies incoming documents (NDAs, TCs, etc.) and contracts are still checked manually against a corporate playbook. What’s more, there can be significant risks to the business if you miss something. For many companies this area feels almost like a “black box” without clearly defined and unified processes, audit trails and proper analytics.
Playbook Automator allows you to streamline this process significantly. The tool could, for example, provide an automated risk profile for each provision identified against your own risk criteria, report what changes need to be made to the document and or even automatically produce a contract amendment to send to the other party.
How it works
Integrating with a contract analysis tool, such as Kira, the Playbook Automator highlights to the user each of the relevant terms in the document and associated risk identified in an interactive interface.
Through a customizable, user-friendly and interactive questionnaire (reflecting your business’s playbook and risk profile), the user can review the terms extracted and report in a more streamlined and standardized fashion.
Additionally, the tool can be extended to include sophisticated scoring to enable you to provide your business with an overall risk rating for each document reviewed based on the Playbook Automator’s analysis. This process can also be customized to align with your workflow. For instance, once completed, you can automatically generate a house-style version of a risk report and a contract amendment as well as automate the escalation of key issues to other business areas via e-mail.
A dashboard allows those administering the matters or workflow to see at a glance the number of document reviews completed using the Playbook Automator to date and the time taken to do so to allow a more in-depth view on the terms and risks commonly identified by the Playbook’s logic and scoring systems.