A leading global investment management company’s contract processes lacked the automation necessary to provide the desired efficiencies, transparency, and policy enforcement. The team was forced to create, negotiate, and execute contracts via email communications. This increased the potential for version control issues, and the lack of transparency caused individual team members to define siloed solutions to track contract status. This resulted in contracts being stored and dispersed across SharePoint and file share sites, created inefficiencies across the team.
With the CLM Matrix solution, Wolters Kluwer’s ELM Solutions was able to apply its extensive expertise and easy-to-use technology to support the definition of a clause library, contract repository, and automated negotiation workflows, scaling with the organization as it has continued to grow.