Project Background
The US-based multinational corporation was looking for a way to deliver faster and efficient contracting to reduce the strain on legal, procurement, and other departments. The company decided to partner with Newgen to minimize risks of business losses and penalties by deftly and flexibly managing contracts.
The Roadblocks
- Manual process of creating and managing contracts
- Difficulty in centrally maintaining templates and clauses
- No centralized document repository to store and retrieve contracts
- Absence of notifications and reminders on contract expiry and renewal
Streamlined Contract Management with Newgen
Using Newgen’s contract lifecycle management software, the client was able to standardize, streamline, and automate the end-to-end process—from initiation, creation, negotiation, and execution to expiration.
Key highlights:
- Unified solution to manage end-to-end contract lifecycle management
- Configurable version management capabilities for contracts
- Inbuilt document management system to securely store and retrieve contracts
- Multilingual support for the contract document editor and form fields at the UI level
Implementation Highlights
- 100+ users across multiple regions, project live since 2018
- Multilingual support (English, Chinese, Thai, Arabic, and Vietnamese)
- Data integration with SAP ERP
- 600+ contracts and 350+ templates
Download the complete case study and learn how the client achieved:
- Standardized contract processes per enterprise policies
- Improved accountability and transparency
- Reduced documentation dependency through process optimization
