Customer Awards Program Celebrates Individuals and Organizations Digitally Transforming Contract Lifecycle Management into an Intelligent, Automated, and Data-Driven Function
LOWELL, Mass., March 5, 2024 /PRNewswire-PRWeb/ -- Contract Logix, a leading provider of data-driven contract management software, today announced the Winners, Runners-Up, and Finalists of its 2023 Digital Contract Transformation (DCX) Awards. These organizations and individuals were recognized for driving commitment to contract lifecycle management (CLM) and for evangelizing how DCX can have a significant positive impact on business processes, as well as improving collaboration, mitigating risk, increasing compliance, and finalizing business faster.
The 2023 DCX Award Winners were selected based on the most compelling examples of how they digitally transformed their CLM process and strategies through workflow automation, user adoption, increased visibility, collaboration, and security, as well as delivering excellent results to internal and external stakeholders.
Digital Contract Transformation of the Year Award – Organizational Category:
WINNER - American Choice Healthcare (ACH) for dramatic improvements in streamlining and automating its contracting processes to deliver improved reporting, visibility, and efficiency. ACH is a Florida-based Accountable Care Organization, a group of doctors, hospitals, and other healthcare providers, who come together voluntarily to give coordinated high-quality care to the Medicare patients they serve. Before transforming its CLM, ACH's contracts were maintained in an unwieldy paper filing system, and preparing and sending customized contracts for signature was a lengthy and inefficient process. By digitally transforming their contract management with automated workflows, a centralized digital contract repository, and custom contract templates, the ACH team reduced the amount of time to draft and release a contract from days to minutes, and the time to complete the lifecycle management process from weeks to days. In addition, using advanced analytics and self-service capabilities, the ACH team can generate custom reports for its leadership team in hours instead of days, without needing to burden other departments.
RUNNER-UP - New Columbia Solar for a successful internal CLM rollout and significant improvements in the areas of analytics, time to execution, and obligation management. The Washington, D.C.-based solar company finances, designs, installs, and maintains solar energy systems. It initially rolled out a CLM process to its sales department, adding forms for frequently used contracts, workflows for approvals, automatic reminders for upcoming expiration dates, and a centralized signing process. Through this transformation, the New Columbia team has significantly improved the time its accounting and legal team spends locating and reviewing contracts, reduced missed milestones, increased visibility into contract status, and allowed the company, for the first time, to report on contract metrics.
FINALIST - Sharethrough, Inc. The independent omnichannel ad exchange digitally transformed its contract request system with a centralized repository, automated workflows, and notifications, saving time, improving security and transparency, and ensuring compliance. Automated alerts and notifications ensure that all relevant parties are kept informed about the status of contracts, enabling smoother collaboration and decision-making, and 100% elimination of missed renewals.
Digital Contract Transformation of the Year Award Winner – Individual Category
WINNER - Olivia Robinson, Contracts Administrator and Paralegal at Vitara Biomedical, for successfully centralizing contracts and contract requests which allow the Philadelphia-based company to focus more on its core business—developing a therapeutic platform to improve the quality of life for premature infants. By using templates for popular contracts like NDAs (with up-to-date compliant language) and automating the request workflow, Robinson has helped reduce the amount of time it takes to review a contract from 5 days to less than 24 hours, an 80% improvement in time spent. Since her digital contract transformation project started, Vitara more than tripled its number of executed contracts in less than two years with a legal team of two people.
RUNNER-UP - Katie Clayton, Executive Assistant, Accredo Packaging for raising the profile of CLM within the sustainable packaging solutions company. Since implementing CLM software within the company, her efforts have led to a transformative shift towards more efficient and streamlined contract management practices. Following the integration of CLM software, Accredo Packaging has witnessed notable enhancements in its contract management. Through the elimination of manual processes and the introduction of innovative automation features, the company has experienced significant improvements in overall productivity. Clayton's successful user campaign has also led to a rise in self-service contract requests and reporting, fostering a more collaborative and data-driven contract management culture within the organization.
FINALIST - Monica Venditto, Manager of Business Relations, Bayshore Healthcare. Venditto helped centralize contracts and implement a contract request process for the Canadian home and community care service provider, reducing the number of emails her team received by 60%. The company can now track and report on all contracts efficiently and stay on top of pending contract deadlines.
FINALIST - Maureen Devlin, Assistant General Counsel, Covation Biomaterials. Devlin's legal team of two attorneys and a patent manager led a successful internal CLM digital transformation campaign for CovationBio's sales & marketing, branding, and R&D teams. The team beta-tested workflows with these key stakeholders before launching the software company-wide and incorporated feedback into training sessions and other instructional materials. CovationBio's entire contract process is now automated across the entire lifecycle, from the contract request submission to third-party execution. This has greatly improved the legal team's efficiency and ability to process and execute contracts and increased trust between the team and its internal clients.
About the Awards
The Digital Contract Transformation of the Year Awards are open to all current Contract Logix customers. They are designed to celebrate and recognize those who have transformed their CLM into an intelligent, secure, and data-driven function, delivered excellent results to their own internal and external customers, and made a significant positive impact on their business results. Prior organizational winners include Westwood Professional Services and TAWANI Enterprises Inc. for dramatic improvements and efficiency gains made by streamlining and automating contracting processes. Prior individual award winners include Francine Leitch, Legal Operations Administrator, GTT, Inc. for successfully centralizing, for the first time, contracts and a contract request process for Guyana's largest telecommunications provider, and Jacki Barnett, Senior Contract Specialist, formerly of Medallion Midstream, for raising the profile of CLM within the company. In addition to digital badges recognizing their achievements, social media and press promotion, award winners also receive a charitable donation of $1,500 made on their behalf to their charity of choice. Runners-Up receive a charitable donation of $250 made on their behalf.
"The Digital Contract Transformation Awards program is another way Contract Logix recognizes the innovative and creative ways our valued customers use our platform," said Karen Meyer, CEO, Contract Logix. "The growth of this program and the strong entries we received demonstrate that more and more organizations are seeing the value of CLM. We're honored to celebrate the 2023 class of award winners taking an active leadership role in contract management."
About Contract Logix
Contract Logix is a long-time leading provider of intelligent and data-driven contract lifecycle management software. The company's software empowers legal, administration, IT, procurement, finance, and sales professionals to simplify the way they digitally draft, negotiate, approve, execute, and manage contracts. Hundreds of brands have partnered with Contract Logix to streamline and automate their contracting processes while minimizing risk, increasing compliance, and finalizing business faster. For more information about Contract Logix, visit https://www.contractlogix.com and follow us on LinkedIn.
Media Contact
DAVID PARKS, Contract Logix, 9786747095, [email protected], https://www.contractlogix.com/
SOURCE Contract Logix
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