Case Study - Fortune 1000 Financial Services
Opportunity
A global financial services firm had spent over a year on its Contract Lifecycle Management (CLM) implementation without a successful go-live.
There were several technology teams, consultants, and vendors working on the solution.
Our professionals were brought in to support the COO, to connect the dots across workstreams and drive the program to launch.
The contract intake process revolved around their sales team that worked in their proprietary Salesforce (SFDC) based solution. A third-party CLM was acquired to managed key portions of the contracting lifecycle and long-term governance.
#1
Diagnose and Stabilize
- Independent assessment of the in-flight build and timeline
- Aligned SFDC, sales, deal desk, legal, and finance on a single target model
- Reset the plan with clear owners and acceptance criteria
#2
Rebuild on Best Practices
- Guided repository design for system of agreement best practices and evaluated 30 core templates
- Partnered with SFDC team to define and harden workflows
- Streamlined contract initiation, deal review, and data capture
#3
Test, Train and Go-Live
- Authored UAT plans and scripts across every persona
- Ran iterative test cycles and triaged defects to resolution
- Developed a detailed plan to support a successful go-live
Results
Our team was able to stabilize the stalled contract management lifecycle system (CLM) rollout for the global financial services firm.
The COO was facing the challenge to consider shelving the project as the internal stakeholders were facing burnout, open questions were piling up and the connective tissue to see the project to success was missing.
Our professionals partnered with the internal team, the vendor and the existing external teams to get a clear understanding of the situation. They identified the gaps and areas that needed clarity.
Success Factors
Our specialists who have sat in the legal operations, legal departments, contracting functions, sales teams and IT seats came in and supported process experts and technologists who were focused on enabling the Salesforce platform, the Docusign platform and the sales processes.
We were able to deliver the oversight and connective tissue that could see the contracting process from end to end.
And, leveraging our multi-platform expertise, we were able to identify process, technology and adoption gaps within short order and provide concrete remedial actions.
Bottom Line
Our professionals acted as a second set of eyes for all the stakeholders.
They provided the industry and client-calibrated answers to the gaps.
Our team created end-to-end business scenarios to help with testing. The focus was to ensure user buy-in and adoption once the system went live.
We developed a clear accountable plan for the client and its stakeholders to roll-out succesfully contract lifecycle management for 30+ contract types to the business.
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