Solution
Transforming the Review Process for 5,000 Annual Agreements
Before IntelAgree, Everon's CLM process was manual and non-scalable, as described by Justin Brenner, Associate General Counsel at Everon. The system was a cumbersome mix of email — for documents needing immediate legal review — and uploading contracts to SharePoint for review requests. "With around 5,000 agreements to review annually, ranging from simple purchase orders to complex master service agreements, our system was falling short. People were bypassing the SharePoint system, directly emailing our team, which made managing the high volume of contracts unsustainable," Brenner remarked.
The journey to adopting IntelAgree involved an internal discovery phase to define what success with the platform would look like, focusing on essential features and desired outcomes. "We asked: What does success here mean? What do we need? What do we want? So we got those parameters defined so we knew what to build," Brenner elaborated. The implementation process, fueled by weekly calls with IntelAgree's team, was swift and aimed at configuring a minimum viable product (MVP) that included contract input, smart form data capture, legal review workflow management, and automated review distribution.
This partnership with IntelAgree has brought significant benefits to Everon, particularly in terms of autonomy. "The ability to configure the system independently, without overburdening our IT team or other departments, was phenomenal. It allowed us to prioritize our needs without competing for resources or needing to rely on other business functions to make it a priority," Brenner said.
Reclaiming 20 Hours a Week with Contract Automation
Thanks to IntelAgree, Everon has significantly enhanced compliance and risk management by ensuring every contract undergoes a thorough legal review. Brenner shared, "For the sales team, we are now confident that we have full visibility to anything that should have legal review. The sales team is fully supportive and appreciates the modern interface of IntelAgree — it's natural and easy for them. And with the same staffing levels, the contract review team is handling more contracts faster."
Implementing IntelAgree also automated critical tasks such as contract intake, assignment, and distribution, which freed up considerable time for the legal team. This automation allowed team members to allocate more time to the substantive review of contracts rather than getting bogged down in the administrative aspects of the process. Brenner noted, "We're moving quicker because we're not manually managing the tracking and exchange of thousands of contracts anymore. We have more time to review contracts because we're not managing it; we're just doing it."
One example of saved time comes from a team member who successfully reclaimed 20 hours each week, previously consumed by the demanding tasks of managing a SharePoint site and distributing contracts for review. Brenner elaborated, "This reduction allowed her to dedicate time to other crucial legal department projects, leveraging her skills far beyond merely forwarding emails from SharePoint." Plus, features like the integrated clause library and enhanced search functionality improved contract review speed and accuracy.
Simplifying Search for Faster Due Diligence
The power of IntelAgree's search functionality came into sharp focus during a critical due diligence request, where Everon needed to identify contracts among over a thousand agreements that contained a specific clause. The ability to quickly and accurately respond to such inquiries showcased the system's capacity to handle complex searches effortlessly.
"We could answer in about 10 minutes which, if any, of our agreements had a most favored nation (MFN) clause," Brenner remarked. "To be able to answer a question like that, that quickly, was eye-opening." This efficiency starkly contrasted with traditional manual methods, which would have been laborious and costly in terms of time or outside party fees.
This newfound efficiency led to a deeper appreciation among senior management for the platform's value, ensuring continued support and plans to expand within Everon. The initial success story of navigating a complex due diligence request with ease has now become a standard practice, empowering the legal team to swiftly address inquiries and make data-driven decisions. "This was the first time I really remember being able to present an answer to such a broad question that quickly to solve a problem. And now we can do it all the time," Brenner stated.
Looking ahead, Everon is keen on expanding the use of IntelAgree across various departments, including procurement, and leveraging its full suite of features to streamline internal approvals, signatures, and establishing a complete contract repository. Through this strategic expansion, Everon aims to equip senior leadership with deeper insights into the company's entire contract portfolio, enhancing their ability to make well-informed decisions.
"The support we've received from IntelAgree has been outstanding, both before and after implementation," Brenner said. "We didn't have questions linger; we had partners there helping us build this out, which we needed because we were new to the product. I am a huge cheerleader for IntelAgree — I think that it is exactly what a CLM platform should be."
Ready to reclaim your time and transform your contract management? Schedule a demo now and discover how you can streamline your processes and enhance efficiency.
