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.
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 they 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.
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
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
- Create an accurate risk assessment algorithm
- Make contracts highly customizable
- 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
To assess risks in contracts, we implemented a system that considers details of contracts such as different legal aspects (e.g. laws of a particular country or state) with the help of AI.
For contract customization, we added contract templates, 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 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.
The team that worked on this project comprised:
- 2 web developers (frontend and backend)
- 1 business analyst
- 1 quality assurance specialist
- 1 project manager
- 1 designer
Main features of this project
We created a special algorithm to assess contract risks depending on different legal aspects. This feature helps users in negotiations.
This set of features allows users to create templates and contract models as well as to quickly build contracts from different modules.
This feature allows users to assign roles to their colleagues and control access to documents and contracts.
Advanced search helps users easily find contracts, signatures, templates, and other items in the repository. The search feature also has access to SharePoint.
An advanced text editor and a system of variables allows users to alter contracts. Templates and modules make contract creation easy and fast.
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.