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This video tutorial discusses the use of Panadoc to streamline the contract creation and negotiation process. Traditional methods involved months of back-and-forth emails and manual revisions in tools like Microsoft Word and Google Docs. Panadoc allows users to create, send, redline, track, approve, and execute contracts within one tool, eliminating the need to switch between various applications. This new process simplifies contract management by bundling multiple tools into one, making it more efficient for both salespeople and legal teams. An example of sending a sample MSA is demonstrated in the tutorial.