PactSafe unveils ‘frictionless’ contract execution platform

PactSafe has launched its new Contract Execution Platform, which treats contracts as data -- a unique position in the market that reimagines the way contracts work in the age of the customer.

If you still think about stacks of hard copy signed documents when you hear the word “contracts,” you’re probably more Boomer or GenX than Millennial, and you haven’t experienced the new PactSafe Contract Execution Platform.

Fast-growing, Indianapolis-based PactSafe added 11 new employees last year (starting from just two), added 100 new customers for 2,000 percent revenue growth, and announced $575,000 plans to create up to 90 new jobs by 2020. The company approaches contracts altogether differently than the traditional way contracts have been done. They treat contracts as data, which means everything is digital-first so that whether you are executing a contract or agreeing to it, the experience is seamless and hassle-free.

PactSafe’s Contract Execution Platform is the only one of its kind that:

  • Automatically manages contract and transaction data
  • Enables custom workflows that support internal processes
  • Engages customers where and how they want

Scott McCorkle

Scott McCorkleAdvisor & Investor

Scott McCorkle, former CEO of Salesforce Marketing Cloud and a PactSafe advisor and investor said: “PactSafe has taken a completely unique position in the market to reimagine the way contracts work, not based on how they’ve worked traditionally, but how they can work in the economy of mobile, apps, and the age of the customer.”

Now entering its third year of doing business, PactSafe began as a digital Terms of Service (TOS) and usage agreement application and has steadily built new products and expanded its scope to include all manner of contract execution. Today, the company offers an all-encompassing solution for contracts that ensures a great user experience for PactSafe customers and their clients, while automating the management and centralization of all contract and transaction data.

That’s probably very welcome news for VPs and managers who have files of hard copy or digital PDF contracts that are completely unsearchable and require constant manual examination to extract details. It also enables custom processes for a seamless execution approach and eliminates friction by engaging customers how and where they want by providing definitive proof of all legal events. Companies can execute contracts at any time, anywhere with click-through agreements, eSignatures, SMS (reply-to-accept), and more through deep integrations through the platform’s “Key” Developer Toolkit.

Brian Powers

Brian PowersFounder and CEO

“Our evolution from a clickwrap API to the only contract execution platform began from the needs of our customers and the success that they were experiencing by using our platform,” said Brian Powers, Founder and CEO of PactSafe.

“Now, we empower our customers with the ability to contract with their customers when, where, and how they want with a completely frictionless and fluid contract experience. Our customers are truly reimagining everything about their contracting processes.”

In addition to becoming the only contract execution platform, PactSafe has continued to experience exponential growth in revenue and adoption in 2017 by adding companies like Outbrain, Emma, Adore Me and Mopro to their customer base. They also recently made strategic hires in sales, engineering, and customer success to support continued growth and customer development.

PactSafe

CATEGORY: Compliance Technology, Legal Technology CITY: Indianapolis

PactSafe is the only contract execution platform that ensures confidence in your end-to-end contract experience.

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Joshua Hall is editor of techpoint.org. He writes about Indiana tech companies, jobs, people & events. @joshua2349