Challenge
A global energy company operates an electric vehicle (EV) subsidiary. Amidst heavy growth, the energy company folds in the EV subsidiary into the broader org as new division. However, they need to implement a new contract management system (CMS) to comply with company standards and streamline the contracting process for the division.
Approach
An Axiom legal ops lawyer begins reviewing existing contracts relating to software sales, construction, maintenance, data privacy, and more to configure the CMS. Based on uploaded data, she roadmaps the system workflows to generate approvals and contracts templates. Midway through the project, the client reorganizes and merges in a newly purchased company. The Axiom lawyer migrates their records and templatizes contracts into the new CMS. Lastly, she creates a repository for legacy contracts, automates alerts based on expiry dates, and creates a manual to train non-lawyers on the platform.
Impact
- Implemented CMS that standardized contract outputs for the business team to produce time-sensitive and complex sales contracts without requiring legal support.
- Axiom lawyer adjusted on the fly to migrate and integrate newly purchased company’s contracts into CMS amidst a major corporate reorganization.
- Created central contracts repository and training guide for sales teams to action legacy contract renewals on time.
*Cost savings estimates are based on actual Axiom rates compared to equivalent law firm rate averages as listed in Wolters Kluwer’s Real Rate report.
