The Power of Redlines: How Smarter Redlining Can Improve Your Contract Negotiations
Most people learn how to redline contracts while on the job instead of in school or formal training programs. As a result, everyone redlines differently, causing major inefficiencies that lead to slow negotiation cycles, poor collaboration, and lack of transparency. According to the World Commerce & Contracting, companies lose an average of 9.2% of their annual revenue due to common contracting issues such as long negotiation times. We can mitigate this loss by improving our contract templates, processes, and systems. But there’s another solution sitting right underneath our noses – improve our redlining skills! After all, redlining a contract is a necessary part of the contracting process. Why don’t we focus on mastering it?
Contract Redlining Etiquette™, developed by Nada Alnajafi, is a negotiation strategy made up of 10 practical rules that contracts professionals can use to drive contract negotiations forward, reduce contract value leakage, speed up negotiation cycles, build internal alignment, and strengthen negotiation leverage. If you are looking for a way to speed up your contract negotiations, or get more parties to accept your proposed changes, then you will want to tune in to this presentation.
In this presentation, Nada will show you how smarter redlining practices can:
– Improve your negotiation power and speed up contract closing times;
– Help you manage internal negotiations and build alignment with internal business clients; and
– Solve some common issues within the redlining process.
There’s redlining and then there’s smarter redlining.
*For more information on this topic, check out Nada’s new book on Amazon today called Contract Redlining Etiquette!