CoreLogic elevates
its client service capabilities with Conga CLM

CoreLogic is an Irvine, California-headquartered global property information, analytics, and data-enabled solutions provider. The company offers property insights to real estate agents, lenders, and carriers to better serve their end-customers by relying on economic, social, and environmental data to promote healthy housing markets and thriving communities. 

Challenge

The property industry, the world’s largest asset class, is a critical driver of economic growth in the United States. Transactions are complex, with a seemingly infinite number of details and variables. Professionals in real estate and supporting industry segments rely on agile solutions to capitalize on the market opportunity, simplifying and streamlining their business processes.   

With in-demand products that serve end-users a list of properties that match their desired attributes, determine the credit worthiness of borrowers, and reduce the cycle time on insurance adjudication, CoreLogic wanted to increase the speed in which it could respond to RFPs. 

CoreLogic’s legacy contract management system captured only the most basic metadata information. Stakeholders couldn’t identify bottlenecks or challenges in their processes because they didn’t have reliable tracking in place to flag them. Manuel Lopez, the company’s senior leader of strategic contracting and proposal management, says that the stakeholders made it clear that their priority was gaining visibility into contract status. 

Solution

CoreLogic enlisted Conga to help accelerate its revenue lifecycle management processes. Conga CLM provided a robust solution to increase automation and measure workflow cycle time while, at the same time, allowing CoreLogic to identify and properly manage exceptions. “We needed to make sure we were not increasing our risk,” says Lopez. “This allows us to involve legal, product management or information security when we need to.”

With Conga CLM, CoreLogic has enabled automated processing for three times as many contracts as it did previously, freeing up its legal team’s expertise and time to focus on more complex agreements. The new solution includes 30 automated templates, up from just five in its legacy system, which allows the organization to scale more efficiently. The automation of these templates has given the team bandwidth to venture into amendments and non-standard use cases. Once a deal is closed, there is reporting on the most common provisions. Additionally, it’s easy to identify improvements that can help the company reduce cycle time, even for complex deals that require redlining.  

Businesses in high-transaction markets rely on robust contract lifecycle management systems, often alongside a customer relationship management system. CoreLogic was no exception and decided to migrate its Oracle CRM to Salesforce at the same time it implemented Conga. The six-month implementation process utilized many best practices including robust change management.

“Training and change communications are key,” insists Lopez. “It doesn’t matter how strong the solution is, if people are not willing to use it or are not committed to its success, the project is going to be a failure. We involved our users to make sure that they were part of the solution. Our focus on training and change leaders in our organization helped us immensely.”

Alongside Conga CLM, CoreLogic implemented Conga Grid, a productivity tool that allows users to view, sort, manage, and analyze batches of data from a single screen within Salesforce, as the foundation for its quality assurance program. Today, Conga Grid ensures that the metadata fields’ basic information in its agreements is complete and accurate. 

Results

Conga CLM is a critical component of helping CoreLogic save time and close deals faster — gaining a sales advantage while improving compliance and visibility. Conga allows CoreLogic to keep pace with processing its RFPs promptly and accurately, providing its customers with a superior level of customer service.  

CoreLogic’s most important metrics are cycle time and number of open items. Using Conga CLM, the company has experienced a 75% reduction in cycle time and gained visibility into the status of its contracts. This includes knowing what contracts are pending, in review or approved, and how long items have been sitting with stakeholders. Understanding where contracts are delayed in the process gives the contracts team the opportunity to meet their targets by proactive follow up.

Before implementing Conga Grid, CoreLogic had identified nearly 3,000 data gaps among agreements and estimated a project time of six months for the manual clean-up efforts. The CoreLogic team was able to reduce that project to four weeks with the automation power of Conga Grid. Filters easily set up in Conga Grid identify the right field, clean up data quickly, and use mass update functionality to reduce the number of data gaps in agreements. “Today, we have a daily clean-up process, and we never exceed more than 10 gaps each day now,” said Lopez. “That’s all thanks to Conga.” 

Lopez and his team fought against taking on too much at one time, especially in light of the simultaneous Salesforce migration. Meticulously defined priorities and realistic phase completion enabled the implementation team to create momentum not only at the executive level but also at the grassroots level, helping them to replicate the success as the project moved through additional phases in the roll-out. 

Business outcomes

• Achieved 75% cycle time reduction
• Automated 28% of transactions, up from 8%
• Reduced number of data gaps from 3,000 to zero using Conga Grid
• Increased number of automated templates to 30, up from five
• Showed results quickly through the due diligence of identifying and addressing pain points