Huge Food & Beverage giant digitized their contracting operations with Volody’s AI CLM tool!
At a Glance
A leading poultry company overcame contract storage and manual invoicing challenges with Volody’s AI CLM. The platform digitized contracts, ensured secure drafting resulting in improved efficiency, security and seamless integration with accounting systems.
The client experienced a notable shift in contract management, enhancing operational excellence and financial control.
- Food and Beverage
Case Study Highlights
The following are the highlights of the case study:
About the Client
Statistics about the Client
Challenges
- Contract storage complexity: Managing physical contracts across multiple locations poses retrieval challenges.
- Low transparency: Tracking unauthorized changes to contract drafts is challenging, raising data integrity concerns.
- Authentication doubts: Offline signings create doubts about the authenticity of signed contracts.
- Lack of standardized template: Contract drafts are edited manually, leading to a time-consuming process.
- Stamp paper procurement hassles: Procuring stamp paper for contracts becomes challenging, adding logistical hurdles to the contract management process.
Solution Process
The client, after careful deliberation, partnered with Volody to tackle their contracting challenges. Volody adopted a strategic approach to tackle these issues. These were the steps taken by Volody to supercharge the client’s contracting process:
Digitizing all contracts, creating a central database with physical file location tags for easy retrieval.
Password-protected contracts & trackable contract drafts to prevent unauthorized modifications.
Automated contract drafting based on contracting parties' specifications, reducing manual edits and improving accuracy.
Automated contract drafting based on contracting parties' specifications, reducing manual edits and improving accuracy.
Seamless integration with accounting system, automating invoicing, payment terms entry, lease payment scheduling, and vendor management.
Results
After integrating Volody’s AI CLM, the client witnessed notable improvements:
- Enhanced Visibility: Improved contract retrieval efficiency, ensuring quick access to all documents.
- SOC-2 Certified & ISO:27001 Secured: Enhanced contract security features preventing unauthorized modifications, ensuring data integrity and reliability.
- Transparency in Process: The implementation increased confidence in contract integrity & validity, fostering trust in the overall system.
- Customizable Templates: Streamlined contract drafting with reduced manual edits, optimizing the process for increased productivity.
- Invoice Management: Integration with the accounting system facilitated efficient payment management, enhancing overall financial control.
Volody Products
Volody is a legal tech company specializing in providing software to help businesses digitize and automate their legal processes. Built by professionals with decades of experience, our products, such as Contract Lifecycle Management Software, Document Management Software, and Litigation Management Software, aim to reduce legal workload and eliminate low-value manual processes. With AI & ML at their core, Volody products are engineered to provide astute and agile solutions that adeptly meet the evolving requirements of the corporate world. That’s why global giants have chosen Volody as their legal tech provider.
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