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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

Impact

33.7K contracts put through Contracts Insights’ process
Successful contract migration from Sharepoint to new CLM (Apttus)
Established high integrity contract repository
100% user adoption of new contracting process

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