Check out how a huge telecom giant digitized their contracting operations with Volody’s AI CLM tool!
At a Glance
A multinational telecom giant having huge manual contracting operations implemented Volody’s AI CLM. The solution streamlined contract approvals, managed deviations efficiently, and centralized stamp paper procurement across 8 functions.
Integration with a complex IT ecosystem improved operational efficiency, and successful coordination with 8 departments led to a quicker & better contracting cycle.
- Telecommunication
Case Study Highlights
The following are the highlights of the case study:
About the Client
Statistics about the Client
Challenges
- Poor organizational coordination: Navigating decision-making hurdles in a complex multinational structure.
- Efficiency-hindering workflows: Delays due to diverse contract approval and signature processes.
- Stamp paper procurement: Having nationwide operations, procurement of stamp paper was time-consuming.
- Information vacuum: Struggling to gather crucial data from 20+ interconnected systems into 1 platform.
- Collaboration issues: With no version control & undefined approval metrics, communication internally was inefficient.
Solution Process
The client, after careful deliberation, partnered with Volody to tackle their contracting challenges. Volody adopted a strategic approach, initiating the contracting process nationwide across 8 segments for optimal management. These were the steps taken by Volody to supercharge the client’s contracting process:
Defined an approval process & customized the workflow for each segment for efficient contract approvals and signatures across segments.
Easy and intuitive user interface and customizable dashboard along with role & hierarchy-based access Control.
Overcame PAN India sourcing challenges of stamp papers for 8 different segments.
Integrated with 20+ surround systems, data lake and in-house CRM reducing data loss & better visibility into contract cycle & vendor performance.
AI read through 17,000 legacy contracts, obtained sign-offs from various departments & uploaded in a centralized repository increasing contract visibility.
Results
After incorporating Volody’s AI CLM Software, the client observed the following enhancements:
- Streamlined contract approval: A streamlined process across various segments and clusters.
- Contract Review Cycle: Customized workflow reduced The contracting cycle from 90 days to 21 days.
- Stamp Paper Procurement: Stamp paper procurement was made easier reducing contracting time.
- Seamless Integration: Integration with 20+ ecosystems, resulting in heightened operational efficiency.
- Smooth Collaboration: Informed decision-making reducing friction & boosting collaboration across all 8 functions.
- Ease of Implementation: Timely development and implementation within a few weeks to streamline the process.
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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