Case Study  ·  Contract Lifecycle Management

Contract Clarity Out of Chaos

Providing a cost-effective way to gain insight into contracts

Industry

Financial Services

Solutions

Contract Lifecycle Management

12
weeks to migrate to the new CLM platform

Situation

A top 10 hedge fund had a shared hard drive with over 40,000 active and expired vendor-side agreements and kept a manually updated spreadsheet for tracking the agreements. The contracts were difficult to search and did not provide any insights into contractual obligations. The company needed a cost-effective way to gain insight into their contracts, archive expired and terminated agreements and capture relevant contract metadata to load into a new contract life cycle management (CLM) software solution.

Solutions

Morae:

  • Leveraged technology and a blend of onshore and offshore legal resources to review the 40,000 files, extracting contractually relevant documents from email, approval cover sheets and financial forecasts.
  • Threaded 22,000 documents into contract families by relating master agreements with associated amendments and statements of work.
  • Captured relevant metadata from each document, including legal obligations and the client’s customized attributes fields.
  • Configured a CLM solution that provided a structured repository with advanced search capabilities, dynamic reporting and custom notifications.
  • Created a load file of all the relevant documents’ metadata for ingestion into the new CLM solution.

Benefits

Morae transformed a chaotic contract warehouse into a structured agreement repository while providing search capabilities and actionable insights. The legal department is now proactive in contract management and a trusted business partner to drive company growth. Additionally, Morae’s flexible resourcing model and per document fee offered the client peace of mind that the project would be completed in 12 weeks and on budget.

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