How IT Service Providers can Benefit from Monjur’s Contracts-as-a-Service Solutions

Mounting security threats and increasing government regulations have made it increasingly difficult for managed service providers (MSPs), tech companies, and businesses of all kinds to keep their contracts with customers up to date. When conditions rapidly evolve, frequent revisions to terms of service are also required, but hiring a lawyer to oversee these changes each time is prohibitively expensive. 

Luckily, MSPs and other businesses now have access to Monjur’s revolutionary software-enabled legal service to help keep their contracts in good order at all times. “Monjur was purpose-built to mitigate legal risk,” says Monjur’s co-founder Rob Scott, an intellectual property and technology lawyer with over 25 years of experience. “With the Monjur platform, IT managed services firms receive comprehensive legal protections, based on industry-leading templates, dynamically updated for each client.”

Why the old way no longer works

Under the traditional legal services model, businesses hire a lawyer in a one-off engagement to draw up their contract templates. When finished, the attorney does little more than email them the contract as a Word document. The business is expected to implement and manage it on its own, but how practical is this given today’s business environment?

“Contracts go stale, just like old bread,” Scott says. “They might fit the client’s needs when they first get rolled out, but over time, things change, and they fall increasingly behind. When you’re talking about a legal document, this means the business no longer has comprehensive legal protection.”

As a result of letting their contracts fall behind the times, MSPs and other businesses can expose themselves to negative outcomes. The main categories of risk addressed by the Monjur solution are third-party vendor risks, risks posed by threat actors, and risks imposed by data privacy and security regulations.

Enter Monjur, which provides comprehensive legal protection for all three categories of risk IT MSPs face.  

The Monjur advantage

Monjur’s contracts-as-a-service approach disrupts the way legal services are delivered and consumed. “We provide a long-term solution for a long-term problem,” Scott says. 

When the need to revise contracts is ongoing, it only makes sense to revise them on an ongoing basis. This is precisely the service Monjur provides, but that’s not the only reason to choose them.

“MSPs prefer our approach because we place much more responsibility on the lawyer,” Scott explains. “With us, the lawyer is obligated to perform many services that aren’t typically provided under the traditional approach. For instance, we host our client’s online terms and conditions, take responsibility for providing updates on both periodic and event-based schedules, and assist our clients with integrating into existing sales processes and tools.”

In short, Monjur doesn’t leave you to implement and manage your customer contracts yourself. Instead, you can rely on a team of experts to take these responsibilities off your plate, leaving you free to concentrate on your business.

Connect with lawyers fast

Monjur’s integrated messaging platform also connects clients directly to their attorneys, who can handle a wide range of legal matters. “In addition to helping with customer contracts, Monjur’s lawyers represent clients in customer disputes and during mergers and acquisitions,” Scott explains.

What’s more, Monjur’s lawyers respond fast. “It takes us less than 24 hours to get new clients personalized customer contracts,” Scott says. “This process normally takes weeks with a traditional service. Responsiveness is a very high priority for our MSP clients and the reason we have invested heavily in our customer experience portal, developed in partnership with GuideCX.”

Protect yourself from third-party vendors

Many MSPs are acutely aware of the potential problems caused by third-party vendors in their technology stack. “Using third-party vendors can open up security risks,” Scott explains. “For instance, a client could fall victim to a ransomware attack due to vulnerabilities in the third-party vendor’s system.”

Monjur takes special care to try to close these gaps to shield clients from liability. “Our Schedule of Third-Party Services makes it clear that the clients’ only remedy would be against the third-party vendor, and that the MSP isn’t responsible,” Scott explains.

New Libraries include Contracts for AI

Monjur has historically offered solutions to IT-managed services providers, software licensors, and digital marketing agencies. Its most recent library contains licensing terms related to AI.

Monjur’s policies-as-service library contains an Acceptable Use Policy for AI recommended for all businesses to make it clear to employees how AI may be used within the organization.    

According to Scott, Monjur also uses AI to monitor legal changes affecting clients, including new court cases and laws. And since AI never sleeps, Monjur can note key developments quicker than a blink of an eye at any time of day or night.

Finally, Monjur is working on an integration with large language models to allow clients to visualize the difference between their templates and Monjur’s master templates in real-time. “This is part of our roadmap to provide real-time difference checking for our clients,” Scott says. 

Keep your contracts ironclad

Monjur is revolutionizing the IT industry with an innovative approach to customer contracting. If you want ironclad contracts you can depend on, consider letting these experienced lawyers handle them for you. You won’t even have to change your sale process because Monjur’s solution integrates directly into your existing software tools

For the best contracts without the hassle, contact Monjur today.