We were recently asked the difference between ContractRoom and Docusign.
Rather than reply “Everything” or “There’s no comparison”, or even preparing the typical checklist (of course, ContractRoom having more checkmarks) … we decided to answer the question by telling a story.
Negotiation and Contracting with Docusign:
Meet Tom, he wants to sell his offering to a new client, Mr. Toughguy.
1. The Proposal
Tom has a series of client presentations, meetings and discussions with Toughguy. Tom drafts a proposal, and sends to his boss, Linda, for approval. Once she approves, he sends to Toughguy for review.
2. Tom Issues the Contract with Docusign
Toughguy emails Tom and asks for a contract. Tom assembles the contract and sends to Linda. After she approves, he sends the contract to Toughguy for signature with Docusign.
3. Toughguy internal review
Now Toughguy’s team Denise, Tony, and Joanne have to review. They share emails, phone calls and have a meeting. They think the price should be 3% less and Tom has to deliver a week earlier.
4. Tom reissues the Contract rewrite with Docusign
Tom sends Toughguy's requests to Linda. Linda has to get Joe’s and Michelle’s approval for the price reduction and earlier delivery date. Both are difficult to pin down. A week later, Tom redrafts the contract and sends to Toughguy via Docusign.
5. Toughguy sends to Legal
Toughguy goes silent as he waits on Legal who responds with requests that will need another round of approval from Tom’s team.
6. Tom sends to Legal
General Counsel is not happy about the rewrites. After a few days, he acquiesces.
7. Tom reissues the Contract Re-Rewrite with Docusign
The Contract is redrafted again and re-uploaded and issued via Docusign. Both parties sign via Docusign. The executed contract is emailed to all negotiators and they store electronically or physically.
Docusign does not speed modifications, authoring, or enforce best of breed workflows. It only facilitates the signing process.
Negotiation and Contracting with ContractRoom:
1. The Proposal/Contract Issued with ContractRoom
Tom has a series of client presentations, meetings and discussions with Toughguy. Tom issues and Linda approves the offer via ContractRoom.
2. Toughguy internal review
Toughguy receives an invitation to review Tom’s offer in ContractRoom. He adds his team, Denise, Tony, Joanna, Larry his boss as signer, and his GC. His team reviews, makes their suggested changes. When Toughguy’s team reaches consensus, ContractRoom notifies Tom to review.
3. Tom’s team reviews
Tom adds the GC, Joe, and Michelle to review the changes from Toughguy’s team. Linda has authority to sign. When his team reaches consensus, Toughguy’s team is notified to review.
4. Toughguy’s team approves, all parties sign
Once both teams reach consensus, ContractRoom notifies designated signers to sign digitally. The contract is executed and archived in ContractRoom.
The Contract Room Difference: With ContractRoom, not a single phone call, email or text was required. ContractRoom manages and monitors the entire contract negotiation (one-to-one, one-to-many and many-to-many), communication, authoring, approval, signing and archival workflow helping deals get done faster, reducing time, money and effort waste and providing control over business.