Product Overview of PactSafe (Now Ironclad Clickwrap)
PactSafe, now integrated as Ironclad Clickwrap, is a cutting-edge digital contracting platform designed to streamline the creation, management, and acceptance of online agreements. This solution is particularly tailored for high-volume, low-complexity contracts, such as Terms of Service, Non-Disclosure Agreements (NDAs), and liability waivers.
What It Does
Ironclad Clickwrap enables businesses to replace traditional, manual contract processes with a fast, frictionless, and legally binding click-to-accept system. This platform is ideal for companies handling a large volume of agreements, as it significantly reduces the time and resources required for contract execution.
Key Features and Functionality
- Clickwrap Agreements: Allows users to accept agreements by simply clicking a button or checking a box, similar to the old shrinkwrap agreements but adapted for online use.
- Embedded Signing: Agreements can be embedded directly on websites, apps, or delivered via SMS, ensuring minimal disruption to the user flow while maintaining legal compliance.
- Audit Trail and Compliance: Automatically captures visual evidence and creates an auditable trail of acceptances, ensuring compliance with the E-Sign Act. This feature centralizes acceptance proof and enhances the enforceability of the agreements.
- Customizable Templates and Version Management: Offers easy-to-follow blueprints for implementation, simplified version management, and contract template uploading and editing functionality. This ensures that the right agreements are presented at the right time without requiring significant development resources.
- Real-Time Notifications and Workflow Automation: Provides real-time notifications and automates workflow processes, eliminating the back-and-forth associated with low-risk or non-negotiated contracts. This feature helps in speeding up contract creation and acceptance times.
- Mobile and Multi-Party Signing: Supports mobile signatures and multi-party signing, making it convenient for users to sign agreements from any device. This enhances the overall efficiency and user experience.
- Integration and API: Integrates with various third-party applications such as Salesforce, HubSpot, and Formstack, among others. The platform also offers API integration for seamless connectivity with existing systems.
- Security and Authentication: Includes features like two-factor authentication, data encryption, and role-based access control to ensure the security and integrity of the agreements and user data.
- Reporting and Analytics: Provides robust reporting and analytics tools to help businesses track and analyze their contract processes, enabling better decision-making and process optimization.
Benefits
- Speed and Efficiency: Reduces contract creation and acceptance times significantly, for example, cutting NDA signature turnaround times from 26 days to just 2 minutes.
- Risk Mitigation: Ensures high enforceability rates for agreements and provides a clear, auditable trail of acceptances, minimizing legal risks.
- User Experience: Offers a seamless and frictionless experience for both businesses and their users, integrating smoothly into sign-up, login, and check-out flows.
In summary, Ironclad Clickwrap (formerly PactSafe) is a powerful tool for managing high-volume online agreements, offering a suite of features that enhance efficiency, compliance, and user experience, making it an essential solution for businesses across various industries.