synergist is contract agnostic meaning any type of contract can be negotiated. Contracts which are heavily standardised but require a level of flexibility towards the counterparty, for example high-volume, low-value deals, generate the greatest time and cost savings when negotiated via the platform.
Yes, synergist is designed to be configured using standardised contracts that have been drafted or reviewed by legal counsel. When setting up your templates we recommend including multiple, pre-approved terms options to allow users to negotiate autonomously within pre-defined ranges. You can invite legal counsel and any other stakeholders to view, provide input and collaborate on your negotiations at any time.
Many CLM solutions perpetuate the existing process of marking up redlines and utilising version control via macro plugins or an online interface. While this process may be familiar to users, we don’t believe it improves efficiency nor does it scale to negotiate high-volumes of low-value contracts. synergist is designed to standardise contracts and automate the negotiation process, reducing manual tasks and increasing deal output. This data-driven approach happens to also support the intelligent mediation of contract terms, creating incremental value that hasn’t even been envisaged by CLM solutions to date (but they are starting to take notice!).
synergist includes a short tutorial for counterparties invited to review contracts on the platform to demonstrate the difference interface elements and workflows. Suggesting changes to contract terms is significantly quicker and easier than editing a raw document and this becomes apparent within minutes to using platform for the first time.
No, synergist does not derive meaning from contract language, nor is this currently required to exchange positions or trades, or enter intelligent mediation. In the near future synergist will attach metadata to terms for semantic-level analysis as we move toward our vision of generating completely digital contracts.
synergist assumes the role of an independent mediator in your negotiation. Both parties may choose to enter a mediation process based on the type and extent of disagreements that exist and synergist will confidentially solicit additional preferences, positions and offers from both parties. synergist uses these inputs to identify common ground, keeping all information confidential until a perfect match of intent is identified.
This information is retained securely and confidentially for the duration of the negotiation and is checked for matches in future mediation processes. You have the option to update or remove these existing offers at any time, once a mediation process has concluded.
synergist uses multiple techniques to detect anti-cooperative behaviour such as anchoring, bluffing and retracting positions. For example when users update positions, the frequency of movement and size of their spread (distance between subsequent moves) are among several metrics which can identify deceptive anchoring techniques or “feeling out of the other party” with a high degree of accuracy.
synergist allows you to quickly and easily identify whether a zone of agreement with your counterparty exists or seems likely at all, lowering the time and effort required to evaluate alignment on commercial terms. In the event negotiations stall and no further suggestions can be made via mediation, both parties have the option to abandon the negotiation by providing a justification.
Security & Privacy
Our clients trust us with highly sensitive contractual information and the protection of this data is our foremost priority. All client data is secured using bank-grade encryption and physically separate from the synergist web application, meaning no contractual information comes in contact with end user devices and every update, change or request made in synergist is securely authenticated by the synergist API.