Contract Lifecycle
Management Solution

Customer

An ITES Conglomerate representing a connected world offering innovative and customer-centric information technology experiences. They have over 1000 Enterprise Customers from across 90 countries. They have over 121K professionals helping them connect experiences and deliver impactful solutions.

Business Problem

As the customer caters to innumerable solutions from across the globe and they had to keep track of over 100K contracts every month. Global functioning also led to an overlap of contacts from their customers who also had a massive global reach

Challenges

Lack of Speed and Visibility

Inconsistent Legal Language

Information Silos

Slow Contract Turnaround Time

Approach

Design Thinkers from iauro and Domain experts from the customer’s end were pooled together to draw plans for the proposed solution. The key factor was to have an end to end Contract Lifecycle Management Platform that could incorporate ever-changing legal mandates across the globe.

The consultants at iauro started with a competitive SWOT analysis of existing Contract Lifecycle Management solutions and platforms.

They drew a conclusion that all the solutions came with a bag of pros and cons that the customer wanted to avoid. They proposed a secure state of the art custom solution that would incorporate all the key features of the existing competition and also integrate the customers’ custom workflows to make the solution more user-centric and scalable.

Solution

A secure platform was thus built using open source and cloud-native technology. The platform helped in streamlining contracts, drive compliance and ensured a single source of truth using continuous monitoring and real-time intelligence.

The platform offered –

  • Flexible Configuration
  • Intuitive Personalised Role-Based Experience
  • Rule-based Contract Generation
  • Intelligent Negotiation
  • Obligation Tracking
  • Enterprise-Grade Security

Impact

Sales Teams to make high Impact Proactive Decisions.

Digitised over 50K legacy contracts in a year.

Global roll-out standardised
contract process.

Created consistently repeatable contract templates.

Increased the speed of Supplier Onboarding by 7x.

Technology