Things can go wrong with any job, in any industry. Human error, miscommunications and sometimes just bad luck can throw off the best laid plans.
For an organization that relies on contracts to define their business, when things go wrong, it can mean a prolonged contract process, extra costs, delayed revenue - or in the worst scenarios - a lost deal.
Depending on its size, an organization could have tens to thousands of contracts in motion - with many requiring edits and approvals before they can be signed. With so many edits being shared, it’s easy for things to get out of hand. Often, the wrong version of a contract can accidentally be introduced into the process. Whether the contract was wrong from the moment it was generated, or got mixed up during the redlining process, having the wrong version of a contract can dramatically delay a deal. Instead of selling, time is then spent tracing the contract back to see where things went wrong. Sometimes you don’t realize the contract is outdated until it’s too late.