Challenge
- After new acquisition, biotech company had to review broad range of contracts and manage current and upcoming obligations
- Low confidence in existing contract data
- State of contract repository inhibited ability to retrieve and review contracts
- Multiple agreements scanned in a single PDF
- Inaccurate status for expired/terminated/amended contracts
- Non-uniform naming conventions and inaccurate parent-child hierarchies
Solution
- Documented and designed migration process
- Designed managed Centre for Contract Integrity (CCI) for transparency, auditability, and continuous improvement
- Applied Contracts Insights’ Discover, Organise, and Enrich process:
- Deduplicated/consolidated existing supplier accounts
- Linked new agreements and created new supplier accounts
- Created new process to link amendments with original agreements
- Standardised mandatory fields
- Identified missing documents and parent/child hierarchies between agreements (i.e. master-SOW)
- Determined prevailing contracts for multiple parallel contracts
- Split single PDF scanned contracts into separate PDF agreement records
