Simplify the contract management process with Applica RTA

Put manual work where it belongs – in the past

Contract management should in theory be simple, but in most instances it is not. Complications often arise from breakdowns in workplace processes – such as a misunderstanding of what to do with contracts after review, how to effectively communicate findings with the team, or even “hidden” information in a contract that could later become a risk or liability.

By leveraging the unique technology behind Applica RTA, teams of all types and sizes can now quickly extract necessary data points and easily access the information at any time. As organizations no longer need to employ teams to manual review never-ending stacks of documents, these individuals can now focus on more engaging and valuable tasks.

Contract management

Situation:

A financial intuition needed to review non-disclosure clauses in 60,000 US client accounts. Previously the organization employed a team of 12 attorneys to review the documents manually and create an Excel spreadsheet with the results.

Problem:

The organization had a massive repository of poorly scanned client documents and no one knew what was inside of it. When an executive asked the team what their obligations were in terms of non-disclosure on these accounts, it took the team of 12 attorneys six weeks to determine an answer.

Solution:

Applica RTA took the historical non-disclosure agreements, extracted the required information, and put it all in a structured, searchable form. Now whenever anyone has a question on these documents, they can execute a simple query and have an answer the same day. New non-disclosure documents are also put into this structured database for self-service use.

Results:

By automating this process and making it easy to access for repeatable future use, the organization no longer needed to employ the team of 12 attorneys to review the data, reducing costs by 80% and turnaround time decreased from six weeks to less than one day.

Learn more from an Applica expert

Character limit: 0 / 244

Success To immediately schedule a demo to discuss your organization's use case, please choose a time here.

Trusted by companies across the world