Contract management services including contract drafting, redlining, and negotiation

The client sought a partner to centralize the contract management process within the procure to pay function. This included process standardization, reduction in turnaround time, process automation, and risk management.

• Decentralized processes across geographies and businesses
• Usage of non-uniform legacy processes and systems, attributed to the client’s organic and inorganic growth
• Non-standard contract templates and contract creation processes, causing significant deviations from legal prescribed standards
• Long turnaround times in executing low to medium risk, high volume contracts
• High cost of legal review/intervention in recurring contracts
• Uneven contract volumes, leading to uncertainty in resource requirements

• Developed a multi-geography solution for the North American and EMEA regions
• Set up an offshore delivery center in India with skilled attorneys to support contracting as per the client’s time zone and jurisdiction
• Helped standardize contract templates and develop negotiation playbooks across businesses
• Created a process automation solution for error reduction in contract development
• Liaised extensively with internal and external stakeholders to drive change management

Transition from person to process dependent model, with:

• Standardization of process flows and follow-up cycles
• Adaptable, trained contracting team.

Nexdigm developed a multi-geography solution for the North American and EMEA regions while setting up an offshore delivery center.

We helped make the transition from a person dependent to process dependent model. We also achieved a 50% reduction in average end-to-end contracting cycle time, a 40% reduction in time spent by the in-house legal team and 25% time saving in preparing contracts.

We also created a process automation solution that minimized commercial and legal risk from non-standard contractual terms leading to better control and oversight of the entire process.