Through setting processes for enabling Contract Automation and Tracking, we aided our client in realizing the ROI of their CLM tool. Our Managed Services which are specifically designed for Contract Lifecycle Management (Legal-tech) assisted them in extracting maximum value from their CLM platform.
The client is a Global professional service firm based in New York with offices in 32 countries serving hundreds of clients globally to transform their business process through their Consulting and Data Tech Ai Services.
Challenge/ Problem Statement
“We had implemented a Contract Lifecycle Management platform but neither were we able to leverage its features efficiently nor were we able to automate our contracting process.”
Overcoming Key Hurdles
- Users not able to leverage the CLM platform for the overall contracting process and using it only as a repository
- Only one out of ten contracts were drafted through the CLM tool
- Non-alignment between the Sales and the Legal team was causing delays and errors in the contracting process
Solution and Use Cases Developed
Solution: Aligning various stakeholders in the organization and making the automation process simpler for easy adoption. Enabling teams to smoothly collaborate with each other.
- Automating the overall contract drafting process by Template automation.
- Automation of Contract Requests from the Sales Department by enabling two-way integration.
- Migration of legacy metadata and contracts to the CLM platform to enable DiscoverAI and Business Intelligence for legacy contracts.
- Effective change management through training, consultation, and post-implementation support including hyper care support.
- Automated end-to-end CLM process for 10 contracts types and 70+ templates
- Efficient tracking and reporting by automating 20+ reports through PowerBI Integration
- Configured system for 400+ users considering in turn increasing user adoption
- Substantial Reduction in contract process time