SUCCESS STORY
How a Global Education Publisher Digitalized Contract Management
From limited visibility, external dependencies and outdated processes to a centralized and effective contract management strategy.
How does a multinational company operating across multiple countries manage its contract activity effectively, especially when each local entity is governed by its own jurisdiction, and the industry in question, such as a renowned publishing house, is subject to strict regulation and a multitude of applicable laws?
THE CHALLENGE
A Global Publisher with Little Visibility and Local Complexities
Many international organizations face similar challenges. Local departments operate with their own tools, if they have any, their own e-signature providers and isolated internal CRMs. Sometimes in such context, certain regions even lack an in-house legal team leading to over dependency on external counsel or having to resort to the head quarters. Overall, there’s a lack of organization, contract management is fragmented locally and internationally, leaving room to higher compliance and regulatory risks…
In the publishing industry specifically, consider the complexity: NDAs, copyright agreements, distribution contracts…. All of which must comply with both sector-specific and geographic legal requirements. And that complexity only increases with digital transformation. We’re no longer dealing with just print publishing. New players, tools, distribution channels, and contract types enter the scene, each governed by its own rules and stakeholders.
THE SOLUTION
A Tailored CLM Rollout with Regional Focus
Getting a robust, customizable and comprehensive Contract Lifecycle Management solution became a priority. The global publisher opted for DiliTrust’s CLM solution expecting to get:
Full control over the contract process (from creation to renewal) for all necessary users in different regions.
A centralized yet region-specific sharing solution to share contractual documents.
Pre-approved contract templates and workflows adapted to each jurisdiction’s needs.
Shared e-signature provider, reducing external vendor costs and need to resort to HQ legal teams.
Integrations like Microsoft Dynamics CRMs allowed a seamless data flow and reduced manual duplications. As a result, business units could operate with their familiar tools and better collaborate with legal teams or contract responsible parties.
Local and continuous support
DiliTrust provided and still provides to this day, a tailor made support and rollout to users from all regions. In some regions for instance, DiliTrust was highly involved in providing insights for workflows and their setup. On another hand, regions with little to none digital readiness benefited from foundational support. To this day, DiliTrust provides weekly touch-points, and sometimes daily, for under-resourced regions.
THE RESULTS
Efficiency, Standardization, Automation and Remarkable Gains Across Boards
A clear example of efficiency gain: Sales teams weren’t always in touch with legal departments, especially in countries lacking a local legal team. They worked with their own CRM to fill out contracts. After DiliTrust’s CLM rollout, and through a robust integration between the existing CRM and the new CLM, sales teams were able to complete the commercial offer via their tool while linking it to the CLM. This ultimately informs legal teams about the contract, enabling them to review it, and sign off on it.
Prior to DiliTrust there was little to no visibility over contractual activities in our subsidiaries. We needed a robust tool that could adapt to our organization whilst keeping local requirements at the core, and to accelerate outdated processes such as in-person signatures. With the help of dedicated teams we achieved our results and the rollout is ongoing in some regions.
Global Legal Director
Learn more about what DiliTrust can do for you, whether it’s accelerating processes, efficiency gains, cost savings or all the above mentioned.