This topic will provide you with an overview of Ironclad Playbooks, powered by Ironclad AI.
This topic provides you with a conceptual overview of Ironclad Playbooks. If you want to learn how to use Ironclad Playbooks, refer to Use Ironclad AI Playbooks.
If your Playbooks are not powered by Ironclad AI, refer to the Playbooks Overview.
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What are Ironclad Playbooks? How Do They Work?
Ironclad Playbooks, powered by Ironclad AI, enables Legal teams to turn static documents into dynamic tools that assist users directly in Ironclad as they read, analyze, and edit documents during the contract review and negotiation process. Legal teams can can create preferred terms and language across all standard business contracts. This helps Legal teams scale by delegating first line contract reviews the knowledgeable business teams, only bringing in Legal for for complex negotiation discussions.
Ironclad Playbooks accomplishes this using the following functionality:
- Assisted contract reviews. Playbooks, powered by Ironclad AI, automatically reads, analyzes, and detects potential issues. It also flags areas of the document that require the contract reviewer to manually review.
- Identify areas of concern and prioritize redlines. Ironclad AI automatically detects clauses and maps Playbooks to your document. You no longer need to search across a 40-page document to review a relevant clause or term in question. Using Playbooks, Ironclad helps your team better understand all of the areas of the document that can be edited, and helps prioritize which redlines to make.
- Pre-approved terms including preferred & fallback options. Contract reviewers have pre-approved, preferred, and fallback language to use when editing and modifying contracts. Administrators can provide directions and instructions for reviewers so redlines are consistent in Ironclad. Playbooks has advanced editing features to allow teams to quickly swap a detected clause with preferred or fallback language with a click of a button.
- Clause approvers. Ironclad can flag a specific clause as a non-standard term and request to notify the relevant stakeholders of the term. Did the counterparty request an exception for payment terms? Ironclad notifies the Finance team to approve the exception. This removes the need for Legal teams to own resolving each issue found in a contract.
- Playbook permissions and controls. Administrators can configure Ironclad users and groups to permit or restrict which users can view, create, and modify Playbooks. This gives administrators more control over how and when to use Playbooks to support contract reviews. Playbook permissions are found on the Groups page under ‘Users & Groups’.
- Advanced contract insights in the Repository. Playbooks also use advanced contract insights and reporting in the Repository. Ironclad automatically captures and stores this information so you can evaluate potential risks and determine how each clause or negotiated term impacts execution speed or liability.
Why Should I Use Ironclad Playbooks?
Before Ironclad Playbooks, you had to read and analyze contracts line-by-line and use extensive legal and financial resources to review and negotiate high-volume, standard business contracts like NDAs, MSAs, DPAs, vendor and software agreements.
With Ironclad Playbooks, important clauses in business agreements are automatically detected, and you can provide a list of pre-approved terms to ensure your team is reviewing and negotiating contracts consistently while lowering the risk to the business. Ironclad Playbooks helps you never miss a required clause or term and also flags when restructured terms are included in your contract. Ironclad can then automatically flag non-standard terms for a contract reviewer and notify the appropriate functional stakeholder whether that is Legal, Finance, Security, or a Sales Lead to approve the use of that term. All of this functionality gives you unparalleled visibility into business liabilities and helps you identify operational process improvements to help your team reach mutual agreement faster in contract negotiations.
We recommend Playbooks if you frequently review contracts. We’ve heard feedback from the following teams that they are seeing immediate benefits from using Playbooks in their business contract reviews:
- Legal and Legal Ops
- Deal Desks
- Revenue Operations
- Procurement