Challenge

Company sought an advanced solution for managing contracts, obligations, and relationships, without the shortcomings of their legacy homegrown CLM system:

• Law department undergoes rapid expansion to address compliance challenges in a highly regulated industry
• CLM Maturity Assessment revealed existing manual contracting processes and approach (using SharePoint and manual intake of forms) were inefficient to scale for managing large volumes of contracts, contracting requests, and regulation changes
• Proliferation of complex and divergent contracts templates raised risks of inconsistent or legally problematic contracts
• Lack of insight into contract obligations reduced the ability to deliver core pharmaceutical drug management strategies effectively

Solution

• Led customer through a CLM Readiness process review to help develop and deploy a standardised contracting process for contracts creation, review, and approval
• Facilitated transition to a new Contract Lifecycle Management (CLM) tool and adjust processes to utilise CLM features
• Integrated customer’s CLM system with their existing technology stack to enable seamless data flow and connectivity across the organisation for efficient contract and data management
• Created a centralised and comprehensive contracts repository, enabling tracking of status, revision history and insightful data analytics through smart search functionality
• Reduced and simplified template library accompanied by a robust set of amendments addressing specific, individualised needs ​
• Built automated workflows and low-touch capability to seamlessly generate new brand-specific amendments and other self-serve requests