A leading enterprise learning company Skillsoft had inefficiencies in contract management. They faced challenges including slow processing times, lack of standardization, and manual workflows that created bottlenecks. They needed a fully digitized, automated solution that improved contract visibility and accelerated approvals across the entire organization. By partnering with Ironclad, they were able to cut contract processing times from days to just 18 minutes while standardizing processes across global teams.
Key Takeaways
- Map your process first. Before implementing a CLM system, spend some time doing some prep work to document your existing workflows, consolidate contract templates, and map processes. Skillsoft reduced their contract templates from 35 to 10, creating a clear roadmap for digital transformation.
- Align your stakeholders for success. Successful implementation requires buy-in from legal, sales, and revenue operations teams. Identify a champion who can coordinate across functions and plan implementation around each team’s business cycles.
- Define clear success metrics from day one. Identify a few core metrics that matter most to your stakeholders like contract turnaround time, self-service contracting, or exceptions requiring legal review. Measure your baseline before implementation so you can demonstrate concrete improvements.
- Plan ahead for accelerated contract processes. Faster contract processes may impact other business areas–in Skillsoft’s case, areas like fulfillment. Planning for scaling and supporting that increase across the organization can help prevent potential bottlenecks before they occur.
Ironclad is not a law firm, and this post does not constitute or contain legal advice. To evaluate the accuracy, sufficiency, or reliability of the ideas and guidance reflected here, or the applicability of these materials to your business, you should consult with a licensed attorney. Use of and access to any of the resources contained within Ironclad’s site do not create an attorney-client relationship between the user and Ironclad.
