Purpose-built for CLM, Ironclad enters the $25B eSignature market with innovative signature capabilities that provide executive summaries, at-a-glance approval chains, and embedded click-to-accept functionality.
SAN FRANCISCO, May 14, 2024 /PRNewswire/ — Ironclad, the leading digital contracting platform for modern businesses, today announced the launch of Ironclad Signature and marked the company’s entry into the $25B eSignature market. Unlike other eSignature providers, Ironclad Signature is purpose-built with the entire contracting process in mind—providing critical context from the contract lifecycle and delivering unprecedented transparency and flexibility for users.
By introducing the first signature tool built from the ground up to surface relevant contractual information, Ironclad Signature is designed to speed up the signature process by an estimated 80%. Ironclad Signature, along with tools like its best-in-class Salesforce integration (chosen by Salesforce itself), positions Ironclad to win greater share of the sell-side Contract Lifecycle Management market—one where speeding up the sales cycle is critical.
“Electronic signatures have been broken for two decades, and completely siloed off from the rest of the contracting process. Your options were to either create a bunch of extra work to understand what you’re signing, or just sign blindly,” said Ironclad CEO and co-founder Jason Boehmig. “Ironclad excels at giving users the right information, at the right time. By bringing in deeper business insights about the process, signers can quickly connect the dots for a faster, more transparent, and more secure signature process.”
Ironclad Signature brings unparalleled context and flexibility to eSignature
Ironclad Signature will be available to customers as an add-on to the Ironclad CLM platform. By providing users with the right information at the right time, Ironclad Signature allows teams to:
- Gain instant context before signing with summaries and approval history: Ironclad Signature reduces time spent in confirmation loops and context switching by including a customizable executive summary and full approval history. Summaries can include 12 key terms, like total contract value or key dates and terms, and the full approval chain history that gives users a clear understanding of the contract’s journey to their desk.
- Provides unprecedented acceptance flexibility depending on business needs: built on trusted Ironclad technology that has already powered over 1 billion acceptances, Ironclad Signature lets users dynamically toggle between acceptance options for their contracts, whether that’s a signature or a click – even after the workflow has been launched.
- Unite rich pre- and post-signature data under one roof instantly: while Ironclad already captures data collected during the workflow process, later this year Ironclad Signature tags will also add information collected at the time of signature in the Ironclad Repository.
“No one wants to blindly sign a contract. Without any approval history in the signature request, I had to separately communicate and confirm that the correct approvals had occurred,” said Lindsey Nelson, Director, Legal at Poshmark. “With Ironclad Signature, our internal signers can now see the stakeholders who have approved the workflow and then immediately sign. This has resulted in a much more efficient, transparent signature process.”
“The new Ironclad Signature tool is excellent. Far slicker than what we used before. Our various cross-functional partners like the ease of use and speed of Ironclad Signature,” said Elie Malkoun, Senior Paralegal at Thumbtack. “Another big appeal, at least from our side, is seeing who the approvers are and the seamless transition across all of our workflows. This not only gives us instant context into the contracts—but speeds up the entire signature process on the whole.”
Introducing value-based pricing: only pay for contracts that get signed, not the ones that don’t
Where other eSignature providers charge any time a contract packet is sent out for signature, Ironclad Signature is priced based on completed, signed agreements.
“We found that over 20% of contracts that go out for signature never actually get signed, but most providers still charge for those signature packets to be sent regardless,” said Will Kolbus, Group Product Manager at Ironclad. “We wanted to design a cost structure based on the reality of how contracts actually work—understanding that negotiation, or changes, can happen at any point in the contracting process.”
In addition to a more fair cost structure, Ironclad also offers companies the flexibility to use their existing eSignature tools as well. Click here to learn more about Ironclad Signature.
About Ironclad
Ironclad is the #1 contract lifecycle management platform for innovative companies, powering billions of contracts every year. Salesforce, L’Oréal, OpenAI and other leading innovators use Ironclad to collaborate and negotiate on contracts, accelerate contracting while maintaining compliance, and turn contracts into critical carriers of operational business intelligence. It’s the only platform flexible enough to handle every type of contract workflow, whether a sales agreement, an HR agreement or a complex NDA. The company is backed by leading investors like Accel, Sequoia, Y Combinator, and BOND. For more information, visit www.ironcladapp.com or follow us on LinkedIn and Twitter.
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SOURCE Ironclad Inc.
