Do you know where your contracts are?
Eighty percent of companies struggle to simply locate all their contracts. Even among those who have implemented a contract lifecycle management tool (CLM), very few claim success at this most basic of tasks.
Creating a single contract repository.
Most companies have contracts spread across numerous systems and even entities, so the first step is to establish a central contract repository. As organizations grow, documents proliferate across contract management tools, in shared drives or hard drives, or even locked in file cabinets. Whether these contracts are NDA’s related to a potential merger or acquisition, customer agreements, employment contracts or vendor agreements— getting a handle on contract positions starts with getting them all in one place.
Knowable complements your systems by enabling all contract sources to flow into a single contract repository where key data can be extracted and analyzed. Having a single system of record is the first step to unlocking the value lost by poor contract data management.
Contract collection support.
If you are one of the millions of companies struggling to locate all your contracts, our experienced and efficient collection teams are here to help. We’ve assisted in the collection of over 1.25 million documents from all major contract repositories (e.g., Ariba, Salesforce, SpringCM) and have worked with a variety of business functions to identify and locate contracts requiring review. We also offer upstream integration from e-signature tools.
Our integrated approach deploying technical and non-technical resources helps you unearth and centralize contracts, while removing outdated, duplicate and incomplete documents, so you end up with a complete, curated set of contracts ready for review.
What we do:
- Detect: Working with contract owners and systems personnel, Knowable identifies hidden pockets of contracts across disparate systems.
- Extract: With blueprints in-hand, we deploy a task force wielding a blend of software and human-based solutions to recover target documents.
- Sift and Scope: We identify and remove duplicate, outdated, and out of scope documents, and flag contracts without complete signature, leaving you with a single, sanitized set of documents you can count on.
With our help, clients experience:
66% reduction in contract time-to-find
95% first-time found success, compared to <80% with internal-only efforts
As an added benefit, we also provide downstream integration so your structured contract data can be fed back to any systems within your enterprise—enabling you to access contract data whenever and wherever you need it.