Contract Management System — SaaS for ContractsRx
development
release
Our input
The Client
Our client is ContractRX — a B2B SaaS product that operates across the US and develops tools that help businesses create a healthy contract management ecosystem. They have over 40 years of experience in managing contracts and assessing their risks, hidden costs, inconsistencies in terms and so much more.
Project idea
Our client decided to create an online platform for analyzing, managing and scoring business contracts. For this, they needed web development expertise, as the startup founder had no technical background.
Our client had a vision of a product that would move all work with legal documents online. This product would allow businesses to compare contracts, assess contract risks, sign contracts online, and store them in a digital repository.
Scoring documents was the core idea of this project; however, during the business analysis phase, we came up with an idea to provide all the functionality needed for companies to run their contracting processes fully online.
The whole project started just as a single tool, but as we added new functionality, it grew into a large SaaS platform. Now, it contains multiple services:
MARQup — a contract model tool that allows users to create new deals faster and see the key contract terms with assigned risk value and an overall health score of the whole contract.
SumTracts — a contract summary engine that analyzes all signed contracts with the same party, and determines if the current contract fits the overall contracting relationship. Its contract summaries feature highlights key information in each agreement and show potential risks.
ClickTracts — a contract signing tool that allows users to add edit and manage contracts as well as sign them online in just one click. It also provides reusable contract templates.
PayTracts — a contract payment feature that allows users to collect payments just as the deal is being signed.
MVP
For the minimum viable product (MVP), we chose these features:
- Company profiles
- Role management
- Subscription management
- User management
- Contract modeling
- Risk scoring
- Attaching links to documents
- Electronic signatures
- Document editing
- Contract link sharing
- Document storage and management
Additional features
In later versions of the app, we added these features:
- Search through SharePoint
- Contract summaries
- Contract templates
- Document export
- Document template management
- Text editor
- Phone number validation for e-signatures
Goals
- Create an accurate risk assessment algorithm
- Make contracts highly customizable by using accurate variables
- Make the platform convenient for clients who interact with partners that don’t use the platform
- Allow users to organize their work within the platform according to their company’s structure
- Enable convenient document search
Challenges
To assess risks in contracts, we implemented a system that considers details of contracts such as different business aspects.
For contract customization, we added a Contract templates module with models and variables that users can adjust according to their needs. For example, users can change the number of rental days.
To help our client’s customers work with their partners, we implemented contract link sharing. This allows a person to receive, review, and even sign a contract even if they don’t use the platform.
We implemented roles and role management so our client’s customers can use the platform to collaborate with their colleagues. Roles are differentiated by their level of access to documents.
To make searching through documents convenient for users, we connected to SharePoint using an official API. This allowed us to implement a smart search across both the platform and SharePoint itself and show results in categories like templates, contracts, and signatures.
Development process and results
Because our client came to us with only a vision for the product, we offered business analysis services right away. The final documentation with technical specifications and wireframes was large, so we decided to extract the most important features for the MVP.
For this project, we chose fast and functional web technologies that would allow us to create a high-performance platform. For payments, we integrated Stripe and helped our client set up analytics so they could effectively track their revenue.
After the MVP was released, we collected feedback from our client and the first users. Based on this feedback, we were able to improve the user experience design and add a few features to the platform. For example, we integrated a live support chat to the platform using Intercom.
We are currently providing full-cycle development services for ContractsRX, and help to improve and maintain their SaaS platform. The number of users is growing rapidly, and as of now, over 300 companies are using ContractsRX as their primary contract management platform.
The Mobindustry team takes an active role in making the platform more convenient for the users and suggests improvements. We handle the full process of turning our ideas into working technical solutions that positively impact our client’s business. This is what it looks like:
1. Business analysis — we constantly check the analytics to track user behavior and analyze their needs and struggles. Our business analysts and stakeholders brainstorm ideas for improving the user flow and the platform’s business performance. Then, our business analyst comes up with a technical solution for a business problem and creates a specification for developers.
2. Development and QA — our development team implements the technical solution into the existing ecosystem and quality assurance specialists run a series of tests to make sure the functionality works as intended.
3. Deployment and support — after the new functionality is implemented, we continue to maintain the whole product with timely updates, regular security checks, and code improvements.
The team that works on this project comprises:
- 2 web developers (frontend and backend)
- 1 business analyst
- 1 quality assurance specialist
- 1 project manager
- 1 designer
Main features of this project
Risk assessment
A special algorithm helps to assess contract risks depending on different business aspects. This feature helps users in negotiations and allows them to create scoring models with criteria that help assess the deal’s success.
Deal management
This set of features allows users to create deals based on the contracts, and assess them according to customizable scoring models that can be altered depending on the specific business needs of each company.
Role management
This feature allows users to assign roles to their colleagues and control access to documents and contracts.
Smart search
Advanced search helps users easily find contracts, signatures, templates, and other items in the repository. The search feature also has access to SharePoint.
Contract management
An advanced text editor and a system of variables allows users to alter contracts. Templates and modules make contract creation easy and fast.
Integration with SalesForce
This integration allows users to create a contract in MarqUp through SalesForce and interlink them. As the contract is signed, the information about it automatically appears in SalesForce.
Built-in payments for contracts
Users can pay the price of a contract just as they sign it through the PayTracts tool — it allows users to make credit card payments as a part of their contracting process.
Help center
Here users can find tutorials on using each feature of the ContractsRX ecosystem and resolve any issues through instant professional customer support.
Technologies we used
What our client said about this project
One of the biggest things about Mobindustry is there hasn’t been rework. We haven’t thrown something away and done something else over — we haven’t had waste and that’s highly unusual. There may be waste that I don’t know about, but it’s never come to me. There hasn’t been a direction that we took and had to reverse on, everything has just been well done.
More projects
What happens next:
