Automox: 85% Deals Signed on Automox's Paper

Implementing TermScout

Commercial counsel at leading firms have begun promoting their balanced contract terms to enhance collaboration with their sales teams and build trust with their counterparties. Until now, such promotion has fallen flat due to uncertainty when it comes to market data and third-party verification.

That’s why organizations like Freshwork’s have leveraged TermSCout’s Certify™ license in addition the the Verified™ market database. By working with TermScout to ensure their contract is at or above market in their industry, companies like Freshworks have seen a drastic reduction in deal friction, improved time to close, and up to 30% reductions in redlining and negotiations.

For example, in the quarter following the implementation of these steps at Automox, an IT Operations cloud solutions provider, 85% of all new label deals (i.e., deals with companies that did not already have a contract with Automox) were done on Automox’s standard paper without negotiation.

Automox’s GC, Paul Shoning, had expected it to take a year to reach these levels and is now looking to increase his target for the year, observing that ”this is significant for us because every percentage point we add to the number of deals we do without negotiation directly impacts the number of lawyers we need to get the company’s business done.”