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Niels Martin Brøchner: Contract Automation for Modern Businesses To Manage and Automate All Their Contracts

Contractbook is a contract automation tool that enables modern businesses to manage and automate all their contracts in a single streamlined repository. Contractbook’s vision is that anyone should feel empowered when dealing with contracts.

We want to make managing contracts easy and efficient and we want to simplify and automate tasks related to contracts – for anyone. It’s time to democratize contracts. It’s time to make small business owners, the startup founders, the busy sales reps, anyone of you who haven’t got support from a hoard of lawyers – feel comfortable managing contracts!

Tell us about yourself?

I’ve been a founder and entrepreneur for most of my professional life – and managing contracts has always been a hassle. A handful years ago, a friend and I discussed the issue and we found out that there was a huge gap in the market. There were digital signature solutions and there were cloud storage solutions.

There were maybe also a few contract management solutions catering to huge enterprises. But nobody trying to solve the problem for SMB’s. Nobody had built an all-in-one platform that enabled smaller businesses to manage their contracts in an easy and efficient way. So we started doing that I don’t have a legal background. I’m a tech entrepreneur.

But I know how to build a user-centric product with a well-designed interface. We know exactly what businesses are looking for because we are one of them and we understand the hassle. That, I believe, makes us perfectly suited to solve the issue.

What is the inspiration behind your business?

We’ve always been inspired by the most successful SaaS businesses. Companies like Slack, Figma, Zapier or even Netflix – redefining their category by making services available to more people. They are presenting their highly functional products in an intuitive and user-friendly way while offering truly innovative technology.

We are trying to do the same. We are building a new foundation for contracts that enables users to automate tasks around their contracts and build self-executing workflows. But we do so in a way that is easy and accessible for everyone.

What is your magic sauce?

Our dataformat. Our competitors are based on PDF. hat was fine when your only goal was to protect content and preserve a printable layout, but they are aweful if you want to use the data inside the contracts. The many new cloud-based apps has ushered in a new era where the capability to share information across platforms is absolutely crucial.

We need data to be accessible and portable. That is why Contractbook has decided to ditch the PDF and work with a dynamic data format. Contracts are data. They contain all the most important information about your business.

Having this data harnessed and organized in Contractbook makes it easier for our users to transfer data between systems and keep everything in sync. And it also makes the contracst actionable. By making data points in contracts easy to access, Contractbook enables users to automate tasks related to contracts and build self-executing workflows.

Where do you see your company going in 5 years time?

We are aiming to be the new standard for contracts worldwide. We want to be the go-to tool for small and medium-sized companies all over the world. It takes a lot of hard work, but we have world-class investors backing us, we are a talented group of people and we have the best product on the market.

I often tell myself that our biggest competitor doesn’t exist yet. That helps putting pressure on us to remain at the forefront of innovation. We will be ready for Web 3.0. We will be ready for all the emerging intelligent technologies when they are mature enough to prove value.

I hope we are still in a position where we can say that we have a foundation for the present and the future: An always up-to-date foundational structure that makes managing contracts easier, more efficient, and not to forget, automated – for anyone.

What has been your biggest setback so far?

As with everyone else in the startup ecosystem, it’s a huge challenge to find enough people. We know what to sell, we know how to do it, we have our go-to-market fit, but we need more people to help us make it happen because there is a lot of scaling to be done.

Luckily, we are a remote-first company which enable us to recruit talented people from all around the world.

What is the next big challenge for your business?

I am very excited about Web 3.0. We are beginning to look into the very first use-cases and how we can prepare our platform for this massive new innovation of the internet. I think that is an exciting new challenge to be innovative and truly make a difference for more people.

How do people get involved/buy into your vision?

We want all startups and scaleups to know that contracts doesn’t have to be that hard. We know that for most people, working with contracts is a necessary evil. It’s boring and worrisome. Contracts make us feel uncomfortable and insecure.

Just the thought of doing something wrong that could result in a missed deal, or even worse, a lawsuit against you, is enough to mae you nervous. That is why Contractbook’s vision is that anyone should feel empowered when dealing with contracts. We are build to solve your problems.

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