How AXDRAFT Retained One Of Their Largest Customers and Increased ACV by 10%
About AXDRAFT
AXDRAFT is an end-to-end contract management software platform that provides law firms and large corporations an easily accessible solution for their contract needs. With over 120,000 legal documents drafted and more than $4.5 million dollars saved, law firms and large corporations save time and money crucial to the team’s growth.
Working with industry leaders such as Slack, Walmart, Carlsberg, British American Tobacco, and Sandoz, “over 2020, despite the global pandemic, AXDRAFT managed to grow, and the number of documents generated on the platform went up 3 times.” says Oleg Zaremba, the CTO of AXDRAFT.
Their robust system provides document drafting automation allowing legal documents to be prepared seven times faster than a manual process would, and the platform is now seamlessly integrated with Slack, E-Sign, CRMs and many other apps. AXDRAFT is also known for their security maintenance by having SOC-2 certification, data encryption, and cloud-based deployment ensuring that all updates, including the Slack integration, is safe.
The Problem
AXDRAFT was about to lose one of its biggest clients because the client needed a Slack integration urgently for them to renew. The critical need was to have notifications delivered to various channels within the AXDRAFT platform so that different teams would be notified of any and all updates seamlessly in Slack without interrupting their workflows.
Beyond the threat of customers churning, AXDRAFT knew they were leaving money on the table by not having the integration. Several other clients had not only asked about the possibility of the integration, but they had also expressed their willingness to pay for it.
It was clear across teams that this integration needed to be prioritized. The only decision they needed to make was whether to build it in house or look for other solutions, because either way, they had to make sure the Slack integration was a part of the next product update.
Initially, AXDRAFT considered developing the solution in house, however they decided to look for external solutions after estimating the in-house resourcing that would be required.
"Our original estimate when evaluating the project scope for inhouse development was around 6 weeks."
The Solution
The Slack integration Paragon makes possible was exactly what AXDRAFT was looking for. Leveraging the Paragon SDK was not only the perfect solution but it was also easy and efficient to merge the integration with the rest of their product.
"After our first demo with Paragon, we saw that the integration with Slack we were looking for could be done really easily and quickly with Paragon API. That was a game changer for us."
They found that the most attractive feature about Paragon was the strong use of conditional logic, accommodating more use cases within each workflow in Paragon. One initial concern was that the embedded experience would be complicated or not user-friendly but this was not the case.
Beyond that, they needed to ensure that the embedded experience users would go through would not be disruptive or confusing. Paragon’s out of the box UI blended seamlessly within AXDRAFT’s interface, and users were able to easily navigate the product. From trial to launch, they were able to roll out the Slack integration in just 2 weeks.
“This helped us to retain several of our major customers, keeping contracts with which constitutes a considerable part of our ARR.” said Oleg. “On top of that, this feature allowed us to upsell a few of our existing customers, leading to a 10% increase in contract price.”
The result?
The Slack integration is embedded seamlessly as part of the users’ notifications settings, and takes under 2 minutes to set up. Users can easily pick which types of notifications they want to receive in Slack, as well as the channel they want the notifications to go to. All they need to do from there is login via Oauth and wait for the notifications to start coming in.
With Paragon, AXDRAFT was able to provide a Slack integration that allows users to receive updates on the progress of their documents seamlessly. Users can then make changes to documents without worrying about missing any notifications or changes since the integration allows all team members to receive updates in real-time.
Business Impact
The ROI of shipping this Slack integration to their users is clear - AXDRAFT was able to drive and upsell their existing customers towards a 10% increase in contract price, while retaining some of their highest value customers.
The easy-to-use nature of this update maintained AXDRAFT’s 4.9/5 rating on Capterra. Law firms, software companies, pharma, CPG, property management, and banks are pleased with the availability and ease of the Slack integration.
What's next?
With this great Slack integration, AXDRAFT is planning to partner with Paragon again for their next big update and exciting integration - Salesforce.
Oleg recommends fast-moving B2B SaaS companies who want to ship new integrations faster and save invaluable development resources to be a great fit with Paragon.
