Revamping business process to manage global contracts
How Aciron does it
The legal department of a pioneer in hook and loop fastener technology was seeking to automate and streamline its contract management processes. When they contacted our team, the goal was identify the inefficiencies in the process and make recommendations for improvement. Very soon, based on Aciron's recommendations, the engagement increased to developing a custom contract management system.
A technology-driven, global organization providing fastening solutions through woven and knit textiles, was seeking to automate and streamline its contract management processes in order to allow the legal department to respond to, proactively manage, and optimize contracts and obligations more effectively. Utilizing manual and paper-based processes for contract management, the legal department was investing a great deal of time in collecting necessary information in order to draft and effectively review agreements. Additionally, the legal department had little-to-no visibility into previously executed contracts. Their inability to easily reference archived contracts prevented them from garnering valuable business knowledge that could be used to benefit all of their contractual relationships.
Aciron began the engagement by working closely with the client to perform a comprehensive business process definition phase. During this phase, Aciron defined and analyzed the current state of the client’s contract management processes and tools, its pain points, as well as its business and technical requirements necessary for a custom contract management system.
Aciron has helped the company to move the entirety of its contract management process from a “paper and file cabinet” system to the digital platform and storage of Microsoft SharePoint. By creating a custom application, Aciron has enabled this company to do more than simply file their contracts. With Aciron’s guidance, the client can synthesize their document management, track negotiations and discussions, improve their internal collaboration, and inform their decision making process based on precedent.
Additionally, Aciron has implemented custom workflows for all contract types and the legal department now processes all of their contracts through the SharePoint contract management system. The custom workflows automate the process for reviewing and approving contracts thus increasing operational efficiency. The system also contains a comprehensive contract repository and a robust contract creation and approval process, allowing the client to develop, proactively manage, and optimize strong, long-term business relationships.
The system was developed to be scalable and flexible, such that it will enjoy long-term, sustainable success and easily adapt to the client’s evolving requirements. Aciron will continue to work on system enhancements and additional functionality that will provide further value to company’s legal department.