Openpay continues to ‘delight’ customers with Conga CLM
Australian-based Openpay offers some of the longest terms plans in the "buy now, pay later” market for the more mature, finance-savvy audience. The online financial services provider offers post-purchase payments and operates across several verticals, including auto, healthcare, home improvement, retail, and education. Openpay’s top priority is to delight their customers and merchants, every time.
Openpay is in a hyper-competitive market and always looking to make sure their tech tools are up-to-date and will allow them to scale as they continue to grow into other markers like the U.K. and the U.S. They were using a contract lifecycle management (CLM) tool, but quickly realized it wasn’t the right solution to help them as they expand business. It wasn’t scalable enough and created inefficiencies in authoring, negotiations, and executions of their contracts.
The pandemic also put undue pressure on not only Openpay, but their merchants and customers, as well. Because of this, Openpay had an extremely tight timeline to automate their contracting process. They needed to transform their digital processes to accommodate the scale of their business and deliver automated and a seamless experience for not only customers, but internal sales and legal teams, too.
“We had to go through a transformation to make sure our speed to market doesn’t slow down at all, while putting customers and merchants at the heart of everything we do,” Openpay Salesforce Product Owner Raz Raslan said.
It was important to Openpay to think outside the box — and quickly — knowing their customers were relying on them to lead them through the unexpected business changes of 2020.
“When selecting a provider, it was very important to us that not only do they have the right technology and the right tools to match our business model, but also something to help us scale into the future,” Raslan said.
After exploring several CLM vendors, Openpay found that Conga’s contract and lifecycle management solutions matched their current requirements and could support their plan to expand globally.
Conga CLM integrates seamlessly with Salesforce and meets Openpay’s needs far better than other vendors they explored, from both a commercial and an implementation standpoint. Openpay required specific contract sections to populate automatically from Salesforce, as well as varying clauses across verticals. Conga CLM’s clause library allows Openpay’s Sales team to have the autonomy to grab the specific clause necessary, depending on the industry.
“This requirement was a lot harder for them to achieve, but with Conga, it was really simple and easy, and the fact that they could do it so quickly and easily,” Openpay Growth Operations Manager Amy Orfanidis said.
They were able to deploy Conga CLM in six weeks, and began to see immediate results in the first few months. Implementation was one of the highlights of Openpay’s CLM transformation. Not just because the process was simple, but because Conga’s implementation team delivered peak communication, speed and professionalism.
“We still talk about it now,” Orfanidis said. “It was one of the best experiences we’ve had in this entire automation project for us.”
Openpay now has a system that meets all their requirements, but and one that merchants enjoy engaging with—responding in proactive, faster ways. Often, merchants send the contract back within a couple hours. All while Openpay was able to reduce their admin time, empowering sales and legal to do more higher value work for the company.
“It really has been a game changer here at Openpay,” Raslan said.
- 60 percent reduction in the contracting lifecycle timeline
- 88 percent conversion rate for Conga contracts
- 30 percent increase in contract volume