Contract Review Notification Automation

TL;DR.

Maven X introduces an automation solution for streamlining contract review processes. The automation improves efficiency, accuracy, and consistency by managing notifications and tasks without manual intervention. It tackles challenges like delays and overwhelming contract tracking, enabling proactive management. A Client Automation Assessment tool is available to explore tailored automation solutions for businesses.

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Script Content

Introduction.

Hi, I’m Noah from Maven X. In this video we’ll see how Maven X uses automation to streamline our contract review notification process.

This is part of our business automation series, where we showcase how automation has helped Maven X streamline operations, drive growth, and ensure precision. As you watch, consider how automation can save your business time, eliminate repetitive tasks, and enhance accuracy, ultimately boosting your productivity.

Problem Statement.

One common challenge businesses face is the manual management of contract reviews and the expiration dates of each contract. This approach often leads to delays, increased administrative workload, and inconsistent communication. Additionally, tracking the status and history of numerous contracts can become overwhelming and prone to oversight.

High Level Explanation.

That’s why we created our Contract Review Notification automation. This solution ensures that every contract review is efficiently processed in a timely manner, and all relevant stakeholders are promptly notified without manual intervention.

Demonstration.

Now let’s see how the automation works:

1. Webhook Trigger: The automation starts when a custom webhook is triggered, indicating a contract review is due. This webhook is triggered by an Airtable automation that is triggered when the expiration date is 30 days from now. This ensures that we have ample time to reach out to our client and get the new contract finalized and signed.
2. Get Contract Record from Airtable: The automation then retrieves the relevant contract record from Airtable.
3. Notify Leadership on Slack: A message is sent to the designated Slack channel, notifying the team about the contract review with relevant details like links to the Airtable records and email drafts.
4. Task Creation: An Asana task is then created for the team to take action on reviewing the current contract and identifying what changes, if any, are required for the renegotiation.
5. Update Contract Status: The contract status is updated in Airtable to ‘Under Review’.
6. Create Email Drafts: The recipient names and emails are then iterated to make sure each stakeholder gets their own email. The draft then has manual points to be updated by the Maven X Team to notify the client about the course of action we want to take like re-signing with no changes, renegotiate, termination, etc. 

Benefits Recap.

By automating this process, we gain a few benefits like:

• Efficiency: This automation saves time by automatically managing review schedules and notifications, freeing up team members for other tasks.
• Accuracy: Automated tracking and notifications ensure that no reviews are missed, and contracts are reviewed on time.
• Consistency: Ensures every contract undergoes a review in a standardized manner.
• Flexibility: The automation can be easily adjusted to accommodate different contract types and review schedules.
• Enhanced Coordination: Teams receive clear and timely instructions, improving overall coordination and execution of contract reviews.
• Proactive Management: Regular updates and notifications help in maintaining a proactive approach to contract management, reducing the risk of missed deadlines and lapses in contracts.

Maven X Services & AI Automation Assessment.

At Maven X, we specialize in crafting custom automations to meet your business needs. If you’re interested in automating your business, check out our free Client Automation Assessment tool. This tool allows you to input your specific challenges and goals, and our AI generates tailored automation solutions for your business. It’s the perfect starting point to explore how automation can enhance your efficiency and success.

If any of the suggested automations are what you’re looking for, or if your automation is more complex, reach out to us at [email protected] to speak with our automation experts.

Closing.

Thank you for watching! We hope this video has inspired you to consider the benefits of automation for your business. Be sure to check out our other videos for more automation solutions and success stories.

Ready to take the next step? Visit our website in the description to try the Client Automation Assessment tool and discover the perfect automation for your needs and to contact us.

Until next time, happy automating!