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Customer Story

Multinational Financial Services Firm

An international financial services firm streamlines the contracting process with Conga, cutting time from creation to signature in half.

 

Challenge

One of the most trusted names in financial services has delighted clients worldwide, providing them with a range of investment advisory services and products for over 20 years. Traditionally, the firm relied on a number of disparate, complicated, and time-consuming systems and processes for creating and storing contracts. Team members saved contracts in a shared drive or as hard copies, which were physically mailed to recipients for signature on paper. Because contract creation requests went through several complex manual stages, accurately tracking contract progress was nearly impossible. Plus, the company was opening up the contracting system to its other departments, so it was imperative to find a way to standardize processes and workflows across teams.

Solution

Conga Contracts provided the organization and automation needed to increase the firm’s efficiency. Since implementation, the organization has simplified the entire contracting process, from the time a business owner requests a contract via Conga to the final review and approval. The workflow feature and single interface reduce the complexity of tracking and enable effective collaboration. No longer dependent on manual updates and multiple rounds of edits, the team can be confident vital details don’t slip through the cracks. In addition, using the Conga Contracts Clause Library (a database of pre-approved clauses) has made referencing documents and updating information in contracts a breeze. Now, a task that once took minutes for even a seasoned legal researcher requires just a few seconds for virtually any member of the team.

Business Outcomes

  • Productivity improvements: Accelerated the contracting process, from creation through signature, by more than 50%
  • Increased efficiency: Cut time to add terms and conditions by half using the Clause Library, from several minutes to just seconds
  • Reporting power: Increased reporting efficiency and visibility by compiling data and tracking versions automatically
  • Customer insights: Provided data to ensure team size is sufficient to handle incoming requests

"Before Conga, we had to manage thousands of contract documents through a series of disorganized electronic folders and physical files, with no way to clearly track their progress toward completion. With Conga Contracts, we have a variety of pre-approved custom document templates, a Clause Library, and strategic workflows that make creating, distributing, and completing contracts faster and easier than ever.” 
Senior Paralegal | Multinational Financial Services Firm

 

     

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