TermScout simplifies contract comparisons with unlimited, user-friendly access to side-by-side analysis and market data.
The compare & benchmark features stand as powerful tools in understanding and benchmarking contracts, most notably in today's software market. The purpose of this article is to provide a comprehensive overview of this feature and demonstrate its utility in contract comparisons.
Scenario: Benchmarking Kallidus MSA
Let's take the example of Kallidus, a renowned HR software platform. The objective is to understand how the Master Service Agreement (MSA) offered by Kallidus compares to the standard market norms. This could be particularly useful for the Kallidus team interested in understanding their market positioning or for customers wanting to ensure the deal they're getting is reasonable compared to Kallidus' competitors.
TermScout’s Comparison in Action
When reviewing a contract on TermScout, users can identify how the contract's favorability rating stacks up against other top software vendors. By utilizing the Comparison feature, users can open the contract alongside other contracts—be they from the public database or from their private contracts—for side-by-side analysis. This permits a detailed examination of the key topics and provisions within those topics, providing valuable insights.
Accessing Market Data and Citations
TermScout's platform prioritizes user-friendliness. Market data and citations are always easily accessible with just one mouse click. Users can readily gain access to relevant data, providing deeper context and understanding to assist in decision-making processes.
Transforming Contract Comparisons
The advent of TermScout's Comparison feature is transforming the way contracts are compared. The traditional practice of hiring lawyers to produce comparison spreadsheets for each clause in the contract is no longer the only option. TermScout's innovative approach offers users the ability to conduct unlimited contract comparisons, thereby making the process far more accessible and efficient.
In conclusion, TermScout's Comparison feature serves as a robust tool for those seeking to understand their positioning in the software agreement market or those wishing to ensure they're getting a fair deal. By simplifying the process of contract comparison, TermScout is revolutionizing the way users understand and negotiate software agreements.