Make the business case
Why take 255 days to do what Lexis Contract Finder can do in 2 days?
Case Study 1: Leading energy company
This utility company required a quick and effective solution that would find contracts that contained very specific clauses. These clauses only existed in a very small percentage of their hundreds of thousands of consumer contracts. Once found, the contracts needed to be indexed and have key data extracted to allow the company to proactively manage the issues relating to this particular group of consumers.
Prior to this, the company was conducting manual searches for these contracts and their specific clauses, which had taken them 255 business days of middle management resource.
Lexis Contract Finder was deployed and within 2 days had:
- Searched over 200,000 documents
- Discovered over 7,000 contracts
- Identified 2,500 contracts which contained the specific clauses the company were looking for
- Abstracted the key contract clause terms in each contract document
- Delivered results in a searchable user interface
- Alerted the company of several confidential contracts that were on unprotected file shares
The contracts and clauses were contained in word documents and image files, including TIFFs and PDFs. Lexis Contract Finder found, extracted and presented the information in a comprehensive report.
Lexis Contract Finder delivered fast ROI and provided additional key, risk management benefits to this utility company.
Find and manage your contracts effortlessly
Experience the value of Lexis Contract Finder: 10 days versus 7.5 years.
Case Study 2: Leading media and entertainment company
This media and entertainment company wanted to implement a contract management solution to manage the lifecycle of new and legacy contracts. They had more than 40,000 contracts, dating back 20 years, in various formats and locations. They recognised however, that before implementing their chosen contract management solution, their first priority must be to:
- Find all of the contracts
- Upload and organise them on a central contracts repository
- Convert the contracts to a searchable format to allow the extraction of key data
- Perform an initial inspection and report contract status
Lexis Contract Finder was deployed to begin processing the company’s contracts. Given the volume of contracts, this would take several months to complete for most vendors.
Lexis Contract Finder was up and running in 24 hours.
Achieved in 2 days
- Uploaded all 40,000 items to a contract management repository
- Produced reports on incorrect contract data
- Provided data cleansing information
Achieved In 7 days
- Converted contract TIFF images to searchable PDF format
- Reported on missing contracts or data
- Found over 1,200 missing contracts
If this search and discovery process had been done manually, it would have taken 7.5 years. Using Lexis Contract Finder the actual time required to complete this project was just 10 days.