Contracts. We all hate them, but we all need them. They are critical for any business, whether a freelancer or a Fortune 500.
Left to tired hands and hard-copies, contract administration is expensive and tedious; every change and amendment needs to be meticulously documented, and the whole process is systematic and focused on minimizing risk. As far as technology goes, there are dozens of e-signature tools and services, but very few high-quality, affordable full lifecycle management platforms.
Despite their ubiquity, the field of contract management seems to be one of the last vestiges of software to adequately evolve.
That’s why Matt Lhoumeau started Concord. While at his previous employer, he was in the basement pouring through and renegotiating hundreds of old contracts and found the entire process to be entirely inefficient.
“When I was stuck in that basement looking through files, I would have killed for Concord. So I built it, making myself one promise: make sure no one will ever have to manage any contract manually. Ever.
Concord is trying to solve our contract woes by delivering an e-signature and lifecycle management platform that is easy to use, tracks contract amendments easily, and most importantly, offers competitive pricing. In their entry-level package, which is free, they provide unlimited e-signatures and unlimited contract storage for an unlimited number of users in all types of businesses and industries.
While all the features from Concord are not completely unique, what is new is the ability to have all of the standard contract management tools bundled into one; online collaboration, change-tracking, legally binding e-signatures, automated templates, automated workflows, deadline alerts and more.
Given the affordable pricing, this is probably one dotted line you shouldn’t be afraid to sign.
Just this past October, Concord secured $2.7 million in venture funding from six investors.