Save to My Lists

EraCLM Reviews & Product Details

EraCLM Overview

What is EraCLM?

EraCLM is a cloud-based negotiation and contract lifecycle management system that changes the way deals get done and how decisions are made. There are clear differentiators with the competition, namely in the way EraCLM streamlines the entire back-and-forth on business terms and legal text between negotiating parties. The solution can automate and capture data within the document assembly, term negotiation and contract management process -- for any corporate buying, selling, hiring and recording activities. And then the large data set can be leveraged with machine learning to help predict the best terms and clauses for future agreement - finding the path of least resistance for the close. This means your internal and external dealings will be faster (up to 75%) with less mistakes and minimal friction. Here's why we were recently awarded the "Best Collaboration Tool" by LegalTech: 1. Collaboration and Control - it covers the entire process of communication, reviewing, editing, approving and tasking both internally in an organization as well as externally with counterparties (e.g., your customers and vendors). Imagine never having to play a game of email ping-pong again or decipher a redlined MSWord circulated internally and/or externally to determine the sequence in which changes had been made! Or, no longer worrying about which document version you're working on when involved with multiple parties. EraCLM does away with all this counter-production and annoyance!; 2. Transaction and Behavior Data - it captures and leverages transaction and behavior data from the entire back-and-forth negotiation, not only the final outcome, as is the case with most CLM systems. EraCLM keeps a data record of every negotiation offer and counter on any business term or legal clause as well as tracking how long it takes (“timers”) and how many changes are made (“counters”). Once these data sets are aggregated, the system can make inferences for future deal-making and decision-making in real-time, what we call Predictive Agreement. So, negotiators no longer have to operate in a vacuum; instead, they benefit from the “collective intelligence” of their peers and can collaborate in a more informed way so as to achieve better business outcomes. So, wouldn't it be great to have a system that could remove all the guesswork in a negotiation - and help guide you to the right decisions, providing the answers before the questions are even asked.

EraCLM Details
Discussions
EraCLM Community
Languages Supported
English, French, Italian, Spanish
Show LessShow More
Product Description

Negotiation platform that simplifies the contracting process and “learns” from all behavior and deal data to optimize future decisions - Predictive AgreementTM.

How do you position yourself against your competitors?

The biggest shift in this market has to be from a system that you tell it what to do versus a system that tells you what to do. By leveraging machine learning/AI, ContractRoom can analyze and learn from past data captured from the entire process (not just a subset) to help improve decision-making and business outcomes.

Competitors are mostly focused on just one process step or the back-end, such as providing e-Signature only or storage/repository only with minimal data intelligence. Therefore, they don't provide a way to address the real pain/challenge --- the manual way people agree today. Most business and legal professionals are still stuck with primarily a text-based approach using a combination of e-mail and MSWord as their primary tools for negotiation. The problem with antiquated approach is that there is no data capture, user control or even security, making it slow, uninformed and overly risky.


Seller Details
Seller
Mitratech
Year Founded
1987
HQ Location
Austin, TX
Twitter
@MitratechLegal
1,035 Twitter followers
LinkedIn® Page
www.linkedin.com
1,603 employees on LinkedIn®
Description

Mitratech is a proven global technology partner for corporate legal departments, risk & compliance teams, and HR professionals seeking to raise productivity, control expense, and mitigate risk by deepening organizational alignment, increasing visibility, and spurring collaboration across the enterprise. For over 30 years, the experts at Mitratech have been focused on solving the complex needs of legal departments and risk & compliance professionals – and building their success. Today, we serve 20,000 client companies of all sizes globally, representing 30% of the Fortune 500 and over 500,000 users in over 160 countries. We partner with our clients to design, develop, deliver and support the best legal, risk management, and HR software solutions around, so their departments can become hubs of efficiency, innovation, and excellence for the entire organization.


HH
Overview Provided by:

Recent EraCLM Reviews

AK
Aneta K.Enterprise (> 1000 emp.)
5.0 out of 5
"Wonderful Contracting Tool "
I think this is the best and most efficient way to Contract. I find myself using this tool daily to keep connected to the movement of my contract...
Verified User
U
Verified UserEnterprise (> 1000 emp.)
4.5 out of 5
"Use of Contract Room has been a great."
Navigating, template creation, tracking status, timeline on aging items, see who has the agreement and how long they have had it for. Ease of use.
Verified User
U
Verified UserEnterprise (> 1000 emp.)
5.0 out of 5
"A Genius Software for Contract Management"
I like how you can set or assign a certain client's email to a particular terms and conditions, and only then that person can have the access to th...

EraCLM Media

Answer a few questions to help the EraCLM community
Have you used EraCLM before?
Yes

13 EraCLM Reviews

4.5 out of 5
The next elements are filters and will change the displayed results once they are selected.
Search reviews
Popular Mentions
The next elements are radio elements and sort the displayed results by the item selected and will update the results displayed.
Hide FiltersMore Filters
The next elements are filters and will change the displayed results once they are selected.
The next elements are filters and will change the displayed results once they are selected.
13 EraCLM Reviews
4.5 out of 5
13 EraCLM Reviews
4.5 out of 5
G2 reviews are authentic and verified.
AK
Enterprise(> 1000 emp.)
More Options
Validated Reviewer
Verified Current User
Review source: G2 invite on behalf of seller
Incentivized Review
What do you like best about EraCLM?

I think this is the best and most efficient way to Contract. I find myself using this tool daily to keep connected to the movement of my contracts. With each upgrade I find myself having the ability to always be aware as to the status of my contracts and who are my key parties. I have used other contracting tools and this by far the best and easy to use. My work life is much less stressful because of this tool. Very well done and I would recommend this tool to everyone. I am so happy that I am able to use this tool from the start of the contract to close out and documentation of the whole process. Review collected by and hosted on G2.com.

What do you dislike about EraCLM?

I really don't have anything bad to say about Contractroom. I really enjoy using this tool !! Review collected by and hosted on G2.com.

Recommendations to others considering EraCLM:

Learn how to use the tool - take time in looking at the features to make your workload much less and more efficient contracting. Review collected by and hosted on G2.com.

What problems is EraCLM solving and how is that benefiting you?

I find Contractroom has made my contracting experience more secure. I have version control always. I know who's hand the contract is in at all times. I do not have the worries of checking status by having to go back and forth looking at emails or version of the contract. Every comment, email, and when those events occur is a relief. Review collected by and hosted on G2.com.

Verified User in Pharmaceuticals
UP
Enterprise(> 1000 emp.)
More Options
Validated Reviewer
Verified Current User
Review source: G2 invite on behalf of seller
Incentivized Review
What do you like best about EraCLM?

Navigating, template creation, tracking status, timeline on aging items, see who has the agreement and how long they have had it for. Ease of use. Review collected by and hosted on G2.com.

What do you dislike about EraCLM?

The environment I work in I can only use via Google Chrome,. Review collected by and hosted on G2.com.

Recommendations to others considering EraCLM:

I highly recommend this tool for Contract building and negotiations. Review collected by and hosted on G2.com.

What problems is EraCLM solving and how is that benefiting you?

Identifying departments that are impacting turnaround time on agreements. This tool reveals what true SLAs are for departmental reviews of agreements they work on--which is great for reporting purposes. Review collected by and hosted on G2.com.

DC
Head of Direct Sales
Financial Services
Mid-Market(51-1000 emp.)
More Options
Validated Reviewer
Verified Current User
Review source: G2 invite on behalf of seller
Incentivized Review
What do you like best about EraCLM?

Contract room has saved my sales team so much time by simply removing the typical slogging back and forth of contract negotiations.

We've previously have used platforms like Hellosign when we were smaller and Docusign when we we grew, however they were either lacking in product functionality or the price was much to exorbitant for what it accomplished. With Contract Room we've found a seamless solution that enables our team to push through an agreement faster then what we've experienced previously. Review collected by and hosted on G2.com.

What do you dislike about EraCLM?

We were a bit weary about moving forward based on company credentials. Contract management seems to be a very saturated market.

We've discussed moving to Salesforce, but they do not posses a native Salesforce integration yet, so that could be a problem down the road. Review collected by and hosted on G2.com.

What problems is EraCLM solving and how is that benefiting you?

We are eliminating the archaic structure of contract management. Review collected by and hosted on G2.com.

Verified User in Staffing and Recruiting
US
Mid-Market(51-1000 emp.)
More Options
Validated Reviewer
Verified Current User
Review source: G2 invite on behalf of seller
Incentivized Review
What do you like best about EraCLM?

Contract room has greatly increased our contracting process efficiency and gave us much more control over the process. The contract approval/rules features are the best in the industry that I have experienced so far. I was particularly pleased with being able to negotiate and then sign, all in one process. Review collected by and hosted on G2.com.

What do you dislike about EraCLM?

i felt that there could have been more detail within the initial training and implementation process. We requested a second round of training, which was helpful, but that could have been prevented with a more detailed first round of training. Review collected by and hosted on G2.com.

Recommendations to others considering EraCLM:

Using different web browsers can create a slightly different experience, stick to one browser. Review collected by and hosted on G2.com.

What problems is EraCLM solving and how is that benefiting you?

Our end to end contracting process was fragmented and very manual. Contracts were being skipped over, and we had poor visibility into the overall process. Now we have an automated process that allows us to know the status of our contracts at all times. Review collected by and hosted on G2.com.

LH
Founder and Lead Blogger
Law Practice
Small-Business(50 or fewer emp.)
More Options
Validated Reviewer
Review source: G2 invite on behalf of seller
Incentivized Review
What do you like best about EraCLM?

With contractroom, you have the power to make very complex rules. Or not. It's up to you.

Rules make it easy for attorneys to include terms necessary in some jurisdictions but not necessary in others. For instance, you can create a rule that will only include a certain term if the client is located in California.

At first glance, the idea of being able to create "terms" in Contractroom did not seem any more impressive than using form fields in Word. But being able to assign those terms to a specific e-mail address, and then set the term so that the absolute only things that the person who was assigned that term can do is approve it, offer an alternative, or disapprove it, rather than that person suddenly having access allowing that person to change anything in the entire document, is game changing. And as one who lives by color codes, I thought it was great that Contractroom color codes the assignments.

Another one of my favorite features was being able to see the exact dollar amount totals of terms which are agreed upon versus not agreed upon. Such an objective, unbiased view really puts things into perspective during negotiations.

Finally, whether you charge by the hour or per transaction, any law firm is going to want to be able to know how to best utilize their workforce. Contractroom allows you to see which attorneys have successfully closed which types of deals in the past so that you can know which attorney is best to call on when a particular type of deal arises. Review collected by and hosted on G2.com.

What do you dislike about EraCLM?

I dislike that I can't control the colors. It would be nice to be able to customize the colors that the program uses.

For more advanced rules it felt like it might be easier to just be able to write code, rather than have to use drop down menus repeatedly. Review collected by and hosted on G2.com.

What problems is EraCLM solving and how is that benefiting you?

Drafting NDAs. It's great to be able to ask a potential business partner whether they agree to specific terms without allowing changes to the rest of the document. It's also great to be able to include sections or not include sections based on the type of technology at issue or the industry of the potential business partner. Review collected by and hosted on G2.com.

Verified User in Human Resources
AH
Small-Business(50 or fewer emp.)
More Options
Validated Reviewer
Verified Current User
Review source: G2 invite on behalf of seller
Incentivized Review
What do you like best about EraCLM?

The solution seems to be very friendly to the novice technologist, but only at first sight. Peel back a layer or two and there is some complex functionality that drives a better solution. The demo shows the best of the best, and what I like most about the solution is that there is "possibility". Review collected by and hosted on G2.com.

What do you dislike about EraCLM?

Realizing "possibility" requires time and we quickly came to know that the level of effort required to make this a great solution for our non-standard contract needs, was too high. It would be a great solution for a company that has 2-5 types of standard contracts, but for those of us with high customization, the setup is just too intense. Review collected by and hosted on G2.com.

Recommendations to others considering EraCLM:

Are you a product firm that uses agreements to seal the deal? ContractRoom has made some very intuitive design decisions that makes the process easy from building to execution. If you have 3-5 standard agreements that go out to thousands of customers, then this would be a most excellent solution. It takes some work to set the logic up and make everything work as needed, so be wary of the time it may take to get things rolling! Review collected by and hosted on G2.com.

What problems is EraCLM solving and how is that benefiting you?

Trying to cut time on creating a contract, make sure that there is consistency in terms, and ultimately execute contracts more expediently. Review collected by and hosted on G2.com.

Response from Kathryn (Katie) Cook of EraCLM

Thank you for your review. We embrace all feedback as we strive to provide a happy experience for all of our users. We are continually working to improve our implementation process to make it faster and more seamless. We always welcome the opportunity to discuss specific issues and would love to provide you an update on recent advancements with our deployment methodology.

BC
Sessional Academic
Higher Education
Enterprise(> 1000 emp.)
More Options
Validated Reviewer
Verified Current User
Review source: G2 invite on behalf of seller
Incentivized Review
What do you like best about EraCLM?

Eliminates email from the negotiation process. I hate email, and emails while negotiating can be incredibly messy.

Ability to give different permissions for different sections. Review collected by and hosted on G2.com.

What do you dislike about EraCLM?

I wanted to try the product before adopting it, but i found it difficult to sign up or try it out for myself. It would be nice to have a short free trial so that i can check out the user interface and usability for myself. Review collected by and hosted on G2.com.

What problems is EraCLM solving and how is that benefiting you?

Negotiating complex contracts for complex sales Review collected by and hosted on G2.com.

JC
Attorney/Cultural Ambassador
Law Practice
Small-Business(50 or fewer emp.)
More Options
Validated Reviewer
Review source: G2 invite on behalf of seller
Incentivized Review
What do you like best about EraCLM?

This product is designed around a specific purpose, unlike programs like google docs, so you get unique features built for your specific purposes. I also love that it is designed around seeing contracts as selections of sections and clauses, standard forms. It makes usability and accuracy much easier. Review collected by and hosted on G2.com.

What do you dislike about EraCLM?

One problem with a product that is so focused around a specific purpose is that it can't easily be used for other purposes where certain aspects of the product might be useful (like it's editing features or its kanban style workflow). Review collected by and hosted on G2.com.

What problems is EraCLM solving and how is that benefiting you?

You're solving communication problems, tech problems and workflow problems. ContractRoom doesn't do anything new, it just drastically simplifies the things you are already doing. Review collected by and hosted on G2.com.

Verified User in Legal Services
EL
Enterprise(> 1000 emp.)
More Options
Validated Reviewer
Review source: G2 invite on behalf of seller
Incentivized Review
What do you like best about EraCLM?

First is the consumer like UI. Very intuitive and easy to use. Plus they allow you to negotiate a contract while eliminating traditional redlining. Who likes redlining. Finally it is easy to implement and with a straightforward licensing model. Review collected by and hosted on G2.com.

What do you dislike about EraCLM?

Compared to other solutions not much to dislike. In future it could use a more robust post contracts obligation management functionality to allow one to track lots of obligations like in a complex services deal but current functionality handles most needs. Review collected by and hosted on G2.com.

Recommendations to others considering EraCLM:

If you are going to deploy a CLM, hard not to take advantage of a cloud bases SaaS solution over an on premises solution. Also like that ContractRoom partner's closely with a legal services provider to allow for a completely outsourced option. Review collected by and hosted on G2.com.

What problems is EraCLM solving and how is that benefiting you?

It allows us to offer a complete end to end contracting solution and to do it at unprecedented speed. No better product in market today. Review collected by and hosted on G2.com.

Verified User in Consumer Services
AC
Small-Business(50 or fewer emp.)
More Options
Validated Reviewer
Review source: G2 invite on behalf of seller
Incentivized Review
What do you like best about EraCLM?

The review/approval workflow of the system as well as all the built in controls around clauses and sections that are changing as part of the review process is extremely handy. Audit trail for each change and the ability to add comments is a huge plus as well. Definitely an excellent solution for reducing emails, attachments, and versioning. The visual workflow control tool is awesome too. Review collected by and hosted on G2.com.

What do you dislike about EraCLM?

I would love the ability to review images and graphics in the system. Having an integration to Box or some form of online storage would be good as well so we could move files that are pending, ready for review, and approved, between locations. Review collected by and hosted on G2.com.

What problems is EraCLM solving and how is that benefiting you?

Creative design feedback and approval workflow. As a creative agency, we're looking for an efficient way to present our work to our clients for feedback, capture reviews from stakeholders (including legal and brand), and track any changes during reviews. Currently, we would use this only for copy, but with the ability to upload images we could expand our use of the system. The frameworks and the ability to create documents from templates is handy to us in keeping our work to spec (character counts specifically). Review collected by and hosted on G2.com.

Response from Kathryn (Katie) Cook of EraCLM

Thanks for your review. We’re delighted that you had a positive experience with our collaboration and workflow capabilities. Also, great suggestion regarding the seamless upload of images into the system for the purpose of consensus building in Marketing. We love this Use Case and have already begun building that functionality for use in the creation and review of marketing content, such as blogs. So, it’s so great to see people like you expanding the application of ContractRoom - which is why we interpret the word “contract” more as a verb than a noun. Thanks again expanding the vision!