Mitchell Martin, Inc. is a national provider of staffing services for IT, professional services, and healthcare. Its IT staffing services include cybersecurity, SAP services, Salesforce, robotic process automation (RPA), and artificial intelligence (AI). With over $200 million in revenue, the firm makes more than 1,000 placements a year.
As an innovative, tech-enabled staffing company, Mitchell Martin uses data to run nearly every aspect of its business. However, when Vice President & General Counsel Joseph Nullmeyer saw an opportunity to help the sales team drive revenue, he knew an AI-powered contract management platform would help.
Previously, the firm stored thousands of contracts in Microsoft SharePoint. This made it challenging for salespeople to find agreements and gain intel necessary for client and prospect meetings. Without the ability to search agreements, the sales team had poor visibility of opportunities to cross-sell or negotiate better rates; in turn, this limited revenue potential from existing accounts.
Nullmeyer evaluated other machine learning-enabled contract management tools, but most of them had technology limitations and convoluted pricing models. He decided to implement IntelAgree because it offers pre-built and custom machine learning models that can track industry-specific contract data. Plus, IntelAgree’s all-inclusive pricing model would support Mitchell Martin’s growing business.
- Finding specific client contracts stored in Microsoft SharePoint
- Acquiring timely and relevant data from contract analytics to support sales pursuits
- Tracking expiration dates and managing renewals
- Uncovering opportunities to boost revenue within existing accounts
Solution – Driving Growth to Accelerate Contract Creation
Today, Mitchell Martin is using IntelAgree to refine its reporting, uncover revenue opportunities, and continue market expansion.
Centralizing 1,500+ Contracts and Running Custom Contract Reports
Nullmeyer has an additional lens into the firm’s 1,500 (and growing) client contracts with IntelAgree’s searchable contract repository and custom reporting. “I provide monthly reports to the executive team that cover which salespeople are executing contracts, the contract parties, execution dates, and other key terms. Before it would have taken digging through emails and that information would have been all over the place,” said Nullmeyer.
Maximizing Cross-Sell Opportunities and Reviving Dormant Accounts
Nullmeyer is also arming the sales team with valuable contract analytics data like fees, payment terms, discounts, rebates, and more to inform account management strategies. This enables salespeople to identify cross-sell opportunities and negotiate more favorable deals. And with better contract visibility, salespeople are also reviving dormant accounts. In one instance, a salesperson couldn’t find contracts for a target account he’d been trying to contact for nearly six months. Using IntelAgree’s advanced search, the salesperson was able to find and reference a 10-year-old contract and successfully re-engage the account. “There’s significant value to that because 10 years ago, we paid a salesperson to spend time developing that relationship and getting that contract signed. Re-engaging that account enables us to unveil new revenue opportunities,” said Nullmeyer.
Accelerating Contract Creation from Hours to Minutes
Mitchell Martin’s Salesforce division is using IntelAgree to accelerate contract creation via the contract creation wizard to generate faster drafts for prospects and clients—enabling speed-to-market. “If a salesperson can get off the phone with a client and get a contract to them in 15-minutes as opposed to three hours, then that makes a huge difference for them. The contract creation wizard is set up in a way where they can’t agree to terms that are outside set ranges,” said Nullmeyer. “They have to work within the parameters…we let them run with it, but the speed-to-market is crucial for them and the contract creation wizard lets them do that. Otherwise, it becomes a drop everything task and probably takes three times longer to get it done.”
Supporting Inorganic Growth with an Optimized Due Diligence Process
Along with implementing ways to accelerate contract creation, IntelAgree is also helping Mitchell Martin gain transparency and mitigate risk in its due diligence process as part of its inorganic growth strategy. “The pre- and post-acquisition diligence is key for us. With IntelAgree, we can upload contracts into the platform and see which contracts are expiring and who the acquisition prospect is contracting with. That provides accessible data that is important in the due diligence process. But more importantly, once a deal has closed, it’s about knowing what you have and then assigning it from there.”
As Mitchell Martin continues to execute its organic and inorganic growth strategies, the firm will continue to use IntelAgree to effectively manage risk and generate valuable contract analytics and insights.