Challenge
A US-based chemical company faced significant inefficiencies in managing contracts at scale due to fragmented and manual processes. Key challenges included:
- Contract drafting conducted largely through email and Microsoft Word, with manual version control and reuse of executed agreements as templates for new contracts
- No structured intake process to capture key contracts metadata from business users
- Lack of a central contracts repository, resulting in poor searchability, limited reporting, and minimal visibility into active and legacy agreements
- Region- and function-specific contracting practices, creating inconsistency and preventing the adoption of a uniform global digital contracting model
Solution
Elevate implemented a cloud-based Contract Lifecycle Management (CLM) platform to support end-to-end contracts processes across the Legal, Procurement, and Commercial functions, including:
- Phased global rollout based on regional needs and contract volumes:
- Phase one: North America (approximately 50% of contracts volume)
- Phase two: Deployment across 20 additional countries
- Configuration of 120 agreement types, including 60 standardised system templates
- Standardised workflows for contracts creation, review and approval, fully integrated with e-signature technology using Adobe Sign
- AI-driven insights enabled through integration with a central reporting data warehouse
