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Challenge

  • Biotechnology company‚Äôs business attorneys and paralegals were responsible for all legal functions without dedicated contract personnel or contracting process in place. Recognising this was unsustainable, legal team invested in a CLM platform to transform their contracting process
  • Limited adoption/multiple business groups were not aware of the tool at all
  • Administrative assistants tasked with inputting contract requests without adequate training
  • More time spent managing tool than doing legal work

 

Solution

  • Evaluate usage of CLM from IT, Legal, and Business groups
  • Review underlying processes and templates
  • Modify CLM to simplify user experience
  • Create workgroups to relaunch CLM adoption
  • Implement simplification initiative¬†with new contract request tool
  • Build customer-run contracts shared services team to monitor CLM intake tool, conduct training, review processes and keep company in compliance with legal policies and procedures

Impact

Cut timeline for contract execution from 180 to 60 days allowing clinical trials to be completed sooner
Legal team concentrates on high-value work instead of managing contract process
Business is more self-reliant and using pre-approved intake forms
Contracts centre of excellence allows legal to focus on strategic activities
Turnaround time reduced/business satisfaction is up
Accurate contract data accessible by all employees

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