Who is the Client?
Founded in 1939, this leading conglomerate established a strong presence in industries such as cement, sugar, and refractories. They operate across multiple locations and are known for their focus on sustainability and innovation.
Particularly prominent in cement manufacturing, the organization is among the top producers in the country and has set ambitious goals for environmental responsibility, including achieving carbon negativity by 2040. With a diversified portfolio and a commitment to long-term value creation, it has earned a reputation as a trusted name in the industry.
Challenges Faced: The Struggles with Manual, Inefficient Systems
Before adopting Volody’s AI CLM, the company faced several issues that made contract management slow, cumbersome, and sometimes risky. These challenges were felt across multiple teams, resulting in delays and inefficiencies that hindered overall business performance. Here are the key problems they were dealing with:
Manual Processes That Slowed Everything Down
A lot of contract management was still being handled manually, using spreadsheets, emails, and paper files. This led to slowdowns, and human errors, and made tracking contracts, deadlines, and revisions a constant challenge. The team struggled to stay on top of contracts, often leading to missed deadlines and delays in getting things done.
Contract Drafting Was Slow and Inconsistent
Another significant hurdle was the drafting process. Business teams didn’t have access to pre-approved templates, which meant that contracts had to be written from scratch or using incomplete resources. This not only caused delays but also led to inconsistencies across contracts, which could raise legal concerns down the line.
Approval Processes Were Unclear and Time-Consuming
The approval workflows were unclear and inefficient. Contracts would often get stuck in lengthy approval cycles because it was not always clear who needed to approve what, or when they needed to do so. This was especially problematic when contracts needed to be executed quickly to meet business or regulatory deadlines.
Limited Visibility into Contract Progress
The company lacked a clear view of where each contract was in the process. Without real-time tracking, it was hard to measure turnaround times (TAT) or identify where things were getting delayed. This lack of visibility made it difficult to improve the process and keep things moving smoothly.
Compliance Risks Due to Missed Legal Reviews
Ensuring that every contract was compliant with legal and regulatory requirements was a major challenge. The company struggled to ensure that each contract underwent the necessary legal reviews. Without an automated system in place, critical reviews were sometimes missed, leaving the company exposed to potential legal and regulatory risks.
The Solution: How Volody’s AI CLM Fixed These Problems
Volody’s AI CLM provided a tailored solution that addressed all these issues, automating and streamlining the entire contract management process. Here’s how the software helped transform their operations:
Complete Contract Lifecycle Management
Volody’s AI CLM automated every aspect of the contract lifecycle, from creation and drafting to execution and storage. This eliminated the need for manual tasks and allowed teams to focus on more strategic activities, such as negotiating terms and managing key relationships. With Volody’s AI CLM, contracts were handled more efficiently, and the process became faster and more accurate.
A Template Library for Faster Contract Drafting
One of the major improvements came in the form of a comprehensive library of pre-approved templates. Business teams could now generate contracts quickly using standardized templates, without needing to wait for legal teams to review the initial drafts. This not only saved time but also ensured consistency in every contract and reduced the chances of errors.
Automated, Customizable Approval Workflows
Volody’s AI CLM introduced automated workflows that made the approval process much more efficient. Customizable workflows meant that contracts were automatically routed to the appropriate people for review and approval, eliminating bottlenecks and ensuring faster contract execution. With clearly defined roles and responsibilities, the system helped ensure that every contract was reviewed and approved in a timely manner.
Real-Time Reporting and Analytics for Better Visibility
One of the standout features of Volody’s AI CLM was its ability to provide real-time reporting and analytics. The company could now track the status of contracts at any time, view turnaround times, and quickly identify any delays in the process. This level of visibility gave the organization more control over its contracts and helped improve decision-making.
Improved Compliance with Automated Legal Reviews
Volody’s AI CLM made it easier to ensure compliance by automating the legal review process. The system tracked every contract and ensured that it went through the required legal checks before execution. This greatly reduced the risk of missing important legal reviews and helped the company stay on top of its regulatory obligations.
Why the Client Chose Volody’s AI CLM: A Specialized Solution for Complex Needs
Choosing the right contract management software was crucial for this organization. Previously, they had been using a system that was good for procurement, but it wasn’t fully equipped to handle the intricacies of contract management across a vast and diverse business. The legal and compliance teams needed a tool that could provide more flexibility, control, and transparency over the entire contract lifecycle.
What Volody’s AI CLM offered was much more than just a basic procurement tool. It provided a comprehensive, end-to-end solution designed to manage contracts from creation to execution and storage. The software’s ability to automate workflows, provide real-time reporting, and seamlessly integrate with the company’s existing systems made it the perfect fit for their needs. Volody CLM was the answer to their challenges, offering a more specialized approach to contract management.
How Volody’s AI CLM Outperformed the Previous System
The transition to Volody’s AI CLM was a clear improvement over the company’s previous system for contract management, which was better suited for procurement rather than handling the full lifecycle of contracts. While the previous system could handle certain aspects of the process, it wasn’t equipped to address the unique needs of the organization’s legal and business teams. Here’s how Volody’s AI CLM provided significant advantages:
Faster Contract Drafting with Templates
Previously, creating contracts was a slow process, but with Volody’s AI CLM template library, business teams could now draft contracts much faster, reducing drafting time by 40%. With pre-approved templates available, legal teams were no longer needed for every contract draft, speeding up the process and ensuring consistency across all documents.
Custom Workflows for Faster Approvals
Approval processes were previously bogged down by unclear workflows. Volody’s AI CLM allowed the company to set up automated, customizable approval workflows that streamlined the process and reduced approval times by 35%. This not only sped up contract execution but also ensured that no steps were skipped in the review process.
Better Tracking of Turnaround Times
The previous system lacked real-time tracking for contracts, making it difficult to measure turnaround times or identify delays. With Volody’s AI CLM, the organization could easily track contracts in real-time, giving them valuable insights into bottlenecks and enabling them to address delays before they became a major issue.
Enhanced Compliance and Legal Review Management
Compliance was a major concern, and the previous system didn’t do enough to enforce mandatory legal reviews. With Volody’s AI CLM, every contract was tracked through each review stage, ensuring that it was fully compliant before moving forward. This automated compliance management greatly reduced the risk of legal issues and regulatory penalties.
Centralized Contract Repository for Easy Access
In the past, contracts were stored across multiple systems and locations, making retrieval difficult. Volody’s AI CLM provided a centralized, easy-to-use repository where all contracts could be stored and accessed with ease. This centralization saved time and improved efficiency when it came to managing contracts over their lifecycle.
Results Achieved: The Positive Impact of Volody’s AI CLM
After implementing Volody’s AI CLM, the organization experienced significant improvements across several key areas. These improvements not only addressed the challenges they were facing but also resulted in measurable business outcomes:
Faster Contract Creation
With Volody’s AI CLM template library, the company was able to reduce contract drafting time by 40%. Business teams no longer had to wait for legal to create contracts from scratch, speeding up the overall process and improving efficiency.
Streamlined Approvals
The automated approval workflows in Volody’s AI CLM reduced approval times by 35%. Contracts now moved through the approval process more quickly, which meant that the company could finalize agreements faster and make more timely business decisions.
Improved Compliance and Visibility
Real-time reporting and automated compliance checks helped improve governance and transparency. Legal and business teams could now monitor contracts more closely, ensuring they met all necessary legal requirements and were completed on time.
Conclusion: How Volody’s AI CLM Transformed Contract Management
Volody’s AI CLM proved to be a game-changer for this large conglomerate. By addressing the inefficiencies, delays, and compliance risks they were facing, Volody’s AI CLM helped transform the organization’s contract management process. With faster contract creation, streamlined approvals, and better compliance tracking, Volody’s AI CLM enabled the organization to save time, reduce risks, and operate more efficiently. This was not just about adopting a new system—it was about fundamentally changing how the organization managed contracts and setting the stage for long-term success.
