031: AI in the Contract Workflow - Simplifying Brand Deals from Start to Finish

In this episode of the Contract Playbook Podcast, Casey Handy-Smith discusses how AI is transforming the contract management process for talent managers and creators. Beyond just contract negotiation, AI simplifies every step from drafting to final execution, saving time and improving accuracy in managing brand deals.

Timestamps:

• 00:00 - Introduction to the Podcast
  Casey introduces the broader conversation about AI in contract management, expanding beyond negotiation to managing contracts throughout their life cycle.
• 00:28 - Expanding the Conversation Beyond Negotiation
  AI's role in simplifying the entire contract workflow, from tracking key dates to ensuring consistency across deals. Casey explains how contract management is more than just signing the deal—it's about the whole life cycle.
• 01:06 - The Importance of Contract Management
  Casey stresses that managing contracts is a critical process that touches every aspect of a brand campaign. It includes renewals, termination deadlines, payment schedules, and tracking special terms.
• 01:13 - How AI Simplifies Contract Management
  AI tools help automate many of these tasks, such as tracking key dates and deliverables, which makes managing contracts much easier, especially when handling multiple deals across several creators.
• 04:08 - Automating the Review Process with AI
  AI tools can quickly analyze contracts, flagging missing or inconsistent terms and ensuring all standard clauses are included, such as payment schedules, deliverables, and exclusivity terms. These tools can save you hours of work and improve contract accuracy.
• 05:06 - Training and Onboarding with AI
  AI can make it easier to onboard new team members, especially those without a legal background. With AI tools offering instant insights and guidance, your team can quickly learn how to spot issues in contracts and apply your agency's standards.
• 06:11 - Maintaining Consistent Terms Across Deals
  AI ensures consistency across your contracts by helping you maintain your agency's preferred terms, like intellectual property ownership, exclusivity, and payment deadlines. Customizing AI playbooks for your agency can make this process even more efficient.
• 07:30 - Real-World Application of AI in Contract Management
  A case study from the Contract Collective highlights how one agency used a custom AI playbook to streamline their contract review process. By flagging key terms like late payment penalties, content revisions, and kill fees, the agency saved time and ensured consistency across contracts.
• 11:30 - Key Takeaways and Conclusion
  Casey wraps up with actionable advice on implementing AI in contract management, from identifying pain points to building your custom playbook. AI is a powerful tool, but it’s essential to combine it with human expertise for the best results.

Key Takeaways:

• Automate Contract Review: AI tools can help streamline contract reviews by flagging missing or inconsistent terms, saving time and ensuring key clauses are always included.
• Onboard New Team Members Faster: With AI's instant insights and guidance, your team can learn how to spot issues and maintain consistency in contracts quickly and effectively.
• Maintain Consistent Terms: AI helps ensure that your agency's standard terms, like intellectual property ownership and payment deadlines, are consistently applied across all contracts.
• Custom AI Playbooks for Agencies: Build a custom AI playbook to meet your agency's specific needs, ensuring terms like late payment penalties and content revisions are always flagged.
• Human Component is Key: While AI offers efficiency, it’s essential to maintain a human component to ensure contracts are handled with the appropriate expertise and attention to detail.

Links & Resources:

• The Contract Collective™ – Join the membership for access to our AI-powered Influencer Agreement Playbook and a supportive community of influencer talent managers and creators.
• Boss Contract Society – Find lawyer-drafted contract templates to protect your business and intellectual property.
• Connect with Casey on LinkedIn – Stay up to date with more contract tips and insights from the entertainment and influencer marketing worlds.

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