Conga Contract Management Solution & CLM Implementation by Forsys

INSIGHT

The client is a US-based software company that develops safe payments, identities, and digital infrastructures. The identity and access management solutions company wanted to automate its end-to-end contracting process and improve accuracy.

The company chose Conga CLM as its contract management solution and relied on the expertise of Forsys to implement the solution.

Forsys studied the As-Is process, suggested the To-Be process, finalized the design solution, and implemented Conga CLM. The streamlined process resulted in 42% faster contracting process.

Industry

Software Industry

Revenue

$800+ M

Employees

1,001 – 5,000

Headquarters

Minneapolis, USA

BUSINESS CHALLENGE

Lack of automation and standardization of Contract Management process for Sell-Side contracts

Ad Hoc departmental practices (emails communications) with little interaction between various business areas/teams

Dearth of Process visibility and contract tracking (for US & Rest of the world contracts)

Ineffective workflows (signatories)

TRANSFORMATION JOURNEY

As a part of the Conga CLM implementation, Forsys did the following:

Worked with the Business team to discover its current process.
Configured and implemented the End-to-End Contracting process using Conga CLM solution.
Set up automatic email notifications at each stage of the contract lifecycle.
Documented detailed use cases.
Designed and configured Agreement Templates and Unique Layouts for Agreement Types.
Conducted Requirements workshop post implementation.

IMPACT

Forsys successfully Implemented the Conga CLM solution for the client with the ability to:

Store the executed contracts in a centralized repository with key deal terms.
Submit new contracts with a defined workflow.
Assemble and negotiate contracts with optimized templates.
Seamlessly send the contracts for electronic signatures through the DocuSign interface.
Receive email notifications during important stages of the contract life cycle.
Search and report contracts using key attributes.

Effortlessly Amend, Renew, and/or terminate the contracts.
42% faster contracting process.
43% increase in contract compliance.
45% increase in contract accuracy.
Complete visibility of the entire contract cycle.

ABOUT THE CLIENT

The client, headquartered in Minneapolis, USA, is a global leader in providing solutions that simplify and are crucial for payments, identities, and digital infrastructure. The company offers multi-cloud deployments, machine identity, electronic signatures, mobile identities, hybrid work, encryption, etc. The company is trusted by some of the leading and compliance-driven companies in finance, technology, and government industries. The client has customers in 150+ countries, 2,800+ colleagues, and a network of global partners.