Beyond Paperwork: How ContractHero turns Contract Management into a Profit Function

In the ever-evolving landscape of business operations, the efficient management of contracts is a crucial element for success. Small and medium-sized enterprises (SMEs) often grapple with the challenges of handling hundreds of contracts while lacking the resources that larger corporations have. Significant challenges for finance and legal teams still stem from the need to efficiently locate, extract, and digitize critical information from contracts. These challenges can lead to crucial oversights such as missed deadlines, auto-renewals, or necessary contractual adjustments. ContractHero aims to reshape the approach SMEs take towards these obstacles by offering an all-in-one Contract Management Platform.

The right team at the right time

We met the Co-Founders Sebastian Wengryn and Gerry Koch when they participated in our accelerator program in September 2022. Sebastian brings experience from pivotal roles in various fintech startups, including the online loan comparison portal Smava and the company builder Finleap. His Co-Founder Gerry Koch previously acted in senior finance roles of several startups, most recently as the Head of Finance & Legal at Kolibri Games, before getting to work solving the problem, he himself faced before. Both founders intimately understand the challenges they aim to address, drawn from their backgrounds. With these two there is no buzzword-bingo – quite on the other end, they are deeply focused on solving the real challenges their customers have.

How ContractHero tackles efficient contract management

Where market companions mostly focus on contract drafting, ContractHero is set on solving challenges that arise after the signing of a contract. This is typically the part of the value chain where most challenges around contracts remain unresolved. The short-term focus for ContractHero is to provide the most user-friendly and flexible software, enhancing transparency and ease of access to vital contract data for legal, finance and purchasing departments. This is particularly important as many companies struggle to locate specific contracts promptly. In the long term, ContractHero aims to be an essential tool for strategic decision-making within organizations. As a central data hub, it will not only store but also feed crucial information to other systems, making it indispensable for both finance and legal teams. Such integrations will empower ContractHero to offer advanced features, for example improved forecasting for effective liquidity management, reinforcing its role as a key infrastructure component for organizations.

Why we invested in ContractHero

Our decision to invest in ContractHero was driven by a multitude of reasons. The first one being the founding team, which has shown an incredible ability to execute its strategy in the downturn market of 2022. Over the course of our acceleration with the team we could experience first-hand how Sebastian and Gerry steered the ship, focusing the organization on efficiency, while outperforming in a challenging market. The second reason for our decision lies in the company’s religious focus on developing a product customers love. There is seldom an early-stage startup that can get the amount of genuinely positive feedback and reviews that ContractHero has gotten on several different platforms, see for yourself here:

The third reason why we invested is because ContractHero is poised to revolutionize business strategy and risk management. With unique insights into companies’ most relevant stakeholders and business partners, it goes beyond aiding in strategic decisions to predicting and safeguarding against future liquidity events, leveraging its exclusive data for proactive, forward-looking insights.

"ContractHero's successful journey is a reflection of the increasing demand that exists in the market. We are grateful for the positive feedback from our users, it validates that we are solving the right problems for them. With xdeck we found the perfect partner for reshaping how SMEs navigate the complexities of contract management, turning it into a profit-driving function." - Sebastian Wengryn

The journey of ContractHero is not just about addressing immediate needs but about evolving into a comprehensive solution that empowers businesses for the long run. Stay tuned for an exciting transformation as ContractHero paves the way for a new era in contract management. Our team at xdeck is proud to share this exciting journey with Sebastian and Gerry.