BUILT contract term libraries and standardized templates that reduced review timelines and improved efficiency.
ENHANCED drafting accuracy and consistency, cutting operating costs and minimizing errors.
AUTOMATION EXPLORATION IN-PROGRESS for standardized clauses to further streamline processes and boost productivity.
Client
European logistics company
Scope of Work
Drafting, redlining and review of contracts
Geography Serviced
Europe
Industry Serviced
Logistics
Client’s Challenges
A large volume of contracts, requiring detailed review and precise drafting across multiple jurisdictions, strained resources and demanded significant man-hours and specialized legal expertise, impacting efficiency and slowing down turnaround times.
The client, a global logistics business handling a large volume of contracts, faced significant challenges in efficiently managing contract review and drafting processes. The need for deep, accurate review and precise drafting across multiple jurisdictions required both specialized legal expertise and substantial man-hours. The heavy workload resulted in delays; the firm struggled to allocate sufficient resources to each contract while maintaining the necessary level of detail. The complexity of handling contracts across various legal frameworks further compounded these difficulties, stretched the legal department’s capacity, and impacted their ability to meet deadlines.
Impact Generated
Delivered measurable improvements in contract management by building comprehensive reference libraries, driving consistency, and improving productivity:
- Drove immediate results from optimized processes by:
- Creating libraries of contract terms and legal provisions for quick reference, reducing time spent on repetitive research
- Improving draft quality, which shortened the review period at the client’s end, resulting in significant time and cost savings
- Standardized checklists and templates provided
consistency and efficiency in contract drafting, minimizing errors and enhancing overall workflow efficiency
- Ongoing productivity gains include:
- Reduced review times due to higher quality drafts, enabling faster approvals and boosting productivity
- Further cost-saving opportunities through sustained process optimization and streamlined operations
This structured approach has significantly enhanced the client’s contract management operations, improving both accuracy and efficiency.
Cogneesol’s Solution
Cogneesol’s solution involved a methodical approach to optimize contract management and ensure accuracy across the board. Our focus was to standardize processes, assign specialized expertise, and create efficient workflows to boost productivity and consistency.
Our team implemented a four-phased strategy:
- Cluster contracts by specialization: In the initial phase, we categorized contracts by specific types and assigned them to our professionals with the relevant expertise. This targeted approach allowed for focused and efficient contract review and drafting
- Standardize processes with checklists: We then developed standardized checklists for each contract type. By finalizing these checklists, we ensured a consistent and streamlined approach to managing different types of contracts, reducing the potential for errors
- Streamline exception handling: For non-standard or complex cases, we identified exception scenarios and set up clear review lines to handle these offbeat contracts efficiently. This helped to avoid delays and maintained smooth workflows for all cases
- Ensure accuracy with dual reviews: To guarantee the quality and accuracy of each contract, we introduced a two-tier review process, where drafts passed through two reviewers. This additional layer of oversight minimized the risk of errors significantly, and now ensures completeness
Our planned approach has delivered efficient, high-quality solutions for the client’s contract management needs. We are currently in the process of automating contracts with standardized clauses. Once executed, this will further streamline operations and improve turnaround times for routine contract management.
