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Case Study

Major Shift in Electronic Contract Management for Leading Financial Firm

Building a strong contract management foundation by leveraging legal expertise to get electronic contract migration right the first time.

The Profile

American investment advisor with over $5.3 trillion in assets under management. It is the largest provider of mutual funds

The Objective

This was a 5 months project to migrate 15,000 files to an eContracts module. The objective was to screen, segment, clean and extract relevant information into the future tool. In addition, the goal was to upload 33 new contract templates for future use.

The Challenge

The biggest challenge was to address the high volume of contract files, without any pre-existing repository in place. All files had to be collected, and then with the support of lawyers and paralegal teams to update the key information such as, termination dates, renewal status, contract hierarchies between master agreements and services of work (SOW). All information had to be put into templates, and once ready to be uploaded into the eContracts solution.

The Impact
  • After reviewing 15,000 files of which 10,000 contracts and 8,000 final documents were selected at the end to be moved into the tool.
  • Over 55 key information were analyzed per contract to be then uploaded as managed information into eContracts.
  • The newly established contracts hierarchies between master agreements and SOW will become a powerful managerial tool for procurement to manage their future negotiations and deliver new sets of values. (TCO and savings).
  • The new contract templates will also permit faster negotiations with more favorable legal conditions as they were written by Client.
“It’s not an easy task to migrate this high volume of contracts, but a keen focus on collaboration and coordination produce the speed and accuracy needed to stay within budget and on schedule.”