Businesses could save up to 8.3% of annual revenue thanks to digital startup Cheers Contracts
The online contracts are written and validated by lawyers. They can be signed, sent and delivered in one application – saving companies up to three months of ‘wasted’ time.
Templates may be required for a multitude of reasons including to offer new services, secure partnership agreements or for freelancers to share with clients.
Founder Luciana Gasser – who is a qualified lawyer – had the idea for Cheers Contracts when she was helping businesses close deals in Buenos Aires, Argentina.
She noticed that the turnaround time between opening and closing contracts was taking up to three months and wasting 25% of their annual revenue.
Cheers Contracts aims to reduce this 25% by a third – which in turn represents am 8.3% saving of their annual revenue. Luciana said: “When you don’t have contracts sat in a single place and you have to scour through emails, Dropbox or physical devices, you’re blind to where they are. Contracts are a major source of great data and you can really benefit from having them readily available.
“Contracts are often written on paper and can be 40 pages long, they might get lost in the post, a follow-up is then done manually, and negotiations are not streamlined. Due to the lack of management, businesses lose track of contracts and they forget renewal dates. This means they ultimately miss out on the chance to prepare a bargain strategy as they don’t have enough insight.”
Luciana’s business partner Lucio Orazi, also a legal professional, says that the contracts they provide limit the risk of miscommunication and potential lawsuits, with each airtight contract created and approved by lawyers. He added: “Contracts should not be obstacles. Cheers Contracts is a celebration – it’s a fast way to get business done. Our USP is that we are aiming our platform at SMEs and start-ups, not big corporations, so with less time spent focusing on contracts, smaller businesses can spend their time better meeting their clients’ needs, heightening their potential for growth.”
Anyone who signs up to receive the new Cheers Contracts email list will also receive 35% off any subscription service they choose.