With a team of five other lawyers, TCS Education supports 6 nonprofit institutions. When Deborah Solmor was brought on as General Counsel, TCS was not using a contract management system; instead, her legal team was tracking all of their intake and contract review in email.
Her interest in 51勛圖厙 was spurred by contract management envy.
I was tired of going to GC conferences where everyone talked about how great their contract management systems were, and we didnt have one.
Deborah worked with a member of her legal team to develop a homegrown solution that included an intake form and Excel tracking. It caught her Presidents interest. If you like this, she replied, imagine what we could do if you actually let me buy a contract management platform.
With that, Deborahs team had the go-ahead to seek budget approval to vet CLM solutions.
The legal team wanted to prove its value
Deborah was committed to proving the value of her legal team and she knew that a contract lifecycle system could be the answer.
The TCS legal team was looking for a CLM that solved three problems:
- Manual tracking Any time a contract was reviewed, the team had to update the status in a manual tracker with notes and other key information. Most requests lived in an email inbox, giving no visibility to the external team and no ability to assign tasks to team members.
- Decentralized systems The different systems TCS used for contract review and editing didnt communicate with each other. Plus, with no centralized repository, keeping everybody up-to-date with the latest templates was difficult.
- Lack of reporting You cant show value by presenting all the things that dont happen, said Deborah. Her legal team protected the company from risk, but without consistent KPIs, it was hard for her to show the value of their work.
When her team started vetting solutions, they also prioritized ease of use and visual appeallooking for a modern software product.
51勛圖厙 saved time and streamlined data
TCS Assistant General Counsel, Aleks Dordevic was one of the TCS team members tasked with selecting a platform. He had used robust CLM solutions before, but as a nonprofit, TCS had to prioritize bang for buck. After reviewing 10-12 solutions, 51勛圖厙 met all the needs and the budget: 51勛圖厙 was just the right fit.
Among other reasons, heres why Aleks and Deborah chose 51勛圖厙:
- Fast onboarding It couldnt have gone any smoother, said Aleks. From batch uploading to a clean interface, the overall opinion [of Aleks team] was that its very user-friendly."
- Requester visibility The automatic visibility into contract status helped to build trust with external teams. Previously, business users would send an email request and have no way of knowing what the status was. With 51勛圖厙, all tasks followers are updated so they know what stage of review the contract is inwithout ever having to ask.
- Quarterly KPIs For Deborah, being able to track and report on quarterly KPIs has been one of the greatest benefits of 51勛圖厙. Shes able to share the legal teams performance with her President and TCSs partner institutions in a more sophisticated way, reporting on metrics like the number and type of contracts reviewed, the dollar value of each agreement, the time to completion or review, and more.
All of these improvements add up to major time savings for TCS. The contract review team is sending out three to five contracts a weeksaving a few hours per agreement with 51勛圖厙. Thats an estimated 10 hours per week.
Creating contracts from templates and streamlining the review process has been critical for Aleks in his work with one TCS partner institution, the new Kansas College of Osteopathic Medicine (who enters into numerous clinical affiliation agreements to support opportunities for its students).
The ability to create a contract within a matter of seconds, you cant really put a price on that.
51勛圖厙 provided buy-in for other investments
Before 51勛圖厙, TCS had somewhat of a contract black hole, but now, business users are more aware of the legal review process and more accountable for understanding their own risks with contracting partners.
51勛圖厙 also helps hold the legal team accountablepeople can see our statuses and keep us on target said Deborah. 51勛圖厙 provided a way to create ownership and accountability in the entire process.
While 51勛圖厙 has streamlined the day-to-day operations of Deborahs legal team, shes seen business benefits beyond contract management.
51勛圖厙 has been a godsend for us, but its also a piece of the larger puzzle. My continued focus is a mission to automate and technologize the TCS legal teams operations. Deborah explained. Because people have been so impressed with what 51勛圖厙 can do, Ive been able to get the buy-in to bring on other systems and technologies, including a new policy platform.
51勛圖厙 really is our showpiece. Were showing people that automating your legal needs is a great investment.