Contract Lifecycle Management -...
6
Next-Generation Contract Lifecycle Management to turn problem contracts into valuable assets. Contract Lifecycle Management
Transcript of Contract Lifecycle Management -...
Next-Generation Contract Lifecycle Managementto turn problem contracts into valuable assets.
Contract LifecycleManagement
Our Approach
Template Creation,
Management & Configuration
Clause Library Creation,
Management & Configuration
Contract Request, Authoring,
Negotiations & Approval
Creation, Management &
Configuration of Attributes
Training & Post-Production Support
Reminders & Notifications
Printing, Franking, Execution &
eSignature Integration
Reporting & Analytics
CLM Configuration & Licensing
Contract Workflow & Protocol
Importing Legacy Contracts onto the CLM Platform
Building a Central Contract Repository
A new-found, comprehensive contract management solution for you with: An organized central repository that improves visibility and reduces financial risk. An automated, modular workflow that spans the entire life-cycle of your contracts, eliminates bottlenecks, and optimizes operational efficiencies. Top-of-the-line CLM platforms that accelerate processes and rule out contract risks.
Our Process
Configure a single, unified repository and incorporate physical and electronic records management to allow full-text and keyword search of contracts and attachments. This will include legacy as well as current contracts. Index and preserve contractual metadata and documents for future reference on the platform.
Import all legacy and current contracts onto the CLM platform per client requirements.Review imported contracts to ensure proper import.
Configure CLM setup inclusive of folders, attributes, security groups, and preferences.Set up licenses based on client preferences.
Develop a detailed protocol to draft contracts, and identify and mitigate contract risks based on the requirements of the client's business teams/departments.Review templates and standardize process flows to ensure efficient management of contracts. Configure approval workflows on the platform to accept third-party contracts via upload, and replicate each workflow across the different agreement types as required.
Building a Central Contract Repository
CLM Configuration & Licensing
Contract Workflow & Protocol
Importing Legacy Contracts onto the CLM Platform
13
4
2
Work with the client to create a comprehensive template repository. Review and update templates at regular intervals or as and when required to adapt to the changing business environment and client requirements. Configure contract merge templates, required agreement types, and merge fields syntax on the CLM platform.
Draft the variants for different clauses in the contracts and store pre-approved clauses on the platform. Review and validate the clause variants at regular intervals or whenever required to adapt to the changing business environment and client requirements. Configure the clause variants on the platform and incorporate them into the contract as required.
Template Creation, Management & Configuration
Clause Library Creation, Management & Configuration
5 6
Our Process
Connect with the client to understand their requirements, collect the requisite information, populate the requisition forms available on the CLM platform, and generate contracts using the CLM platform.Choose appropriate templates based on the scope of services and use templates available on the CLM platform. In case of no available templates, generate the contract afresh per the client’s requirements. Share contract drafts with the different stakeholders via the platform, and incorporate their comments and inputs to finalize the contract. Perform thorough review and assessment of all the contracts pursuant to the protocol and highlight risk(s) involved. Based on the protocol, negotiate with the client’s vendors and make contract revisions, as required.Note: The platform provides version history control as well as redlining which allows for an easy audit trail.
Contract Request, Authoring, Negotiations & Approval
7
Upon discussion with the client, create the list of attributes required for different types of contracts.Review the attributes periodically as per client requirements. Configure attribute groups.Review all contracts and populate the attribute fields for future reference.
Creation, Management & Configuration of Attributes
8
Configure standard reminders and notifications on the platform to allow monitoring of contracts for milestone dates, compliance, and any other important parameters as requested by the client.
Reminders & Notifications9
Print and frank the contracts, if required. Ensure proper execution of franking and accurate annexing of all attachments, and share the franked document for signatures.Configure and integrate the client's eSignature account (DocuSign/Adobe Sign) per client requirements. Store the executed contract permanently in an easily retrievable agreement database on the platform.
Printing, Franking, Execution & eSignature Integration
10
Provide customized reports and analytics that include information about contract cycle time, contract compliance, user activity, and active contracts in the organization.Configure reports for contract detail and process reporting.
Reporting & Analytics11Training & Post-Production Support
12
Provide training on: Concepts and terminology associated with the platform. Workflows and processes on the platform. Roles and their permissions. Data Imports/Exports: Importing or exporting data such as files and folders (previous contracts) and exports to external databases, and if required, archival databases.Support: On call and email support 24/7.
Worked on
Contracts in 45 Days
FEBJan
1000
4000
7000
10000
MAR
Success Snapshot
Fortune 500Streaming Service Reviewed the
documents forcompleteness
Designed andimplementeda streamlinedprocess flow
Provided short-term workforce to quickly execute the project
Important metadata fields in
each document
Tagged
10Migrate and hosted
documents usingContract Lifecycle
Management Software
10,000+
A leading provider of ContractDiscovery and Analytics10,000+
7,908 2,092ContractsContracts
Contact Teri WhiteheadVice President of Global Strategy+1 (248) 925 [email protected]
Gayathri RajeevSr. Manager - Delivery & Global Operations [email protected]
Tariq HafeezPresident/General Counsel+ 1 (734) 274 [email protected]
Tariq AkbarChief Executive Officer+1 (630) 557-5636, [email protected]
An Ann Arbor company. © 2018. LegalEase Solutions LLC.
GET IN TOUCH
