An energy company faced significant inefficiencies in managing its contracts, which spanned nearly 100 different systems and included thousands of agreements. The lack of a centralized contract management system resulted in:

• Delays, Compliance Risks, and Missed Renewals: Critical deadlines were often missed due to fragmented workflows and inadequate tracking.
• Inconsistent Vendor Selection: Different departments used ad-hoc processes, leading to inefficiencies and higher administrative overhead.
• Conflicting Stakeholder Priorities: Stakeholders focused on selecting a CLM platform with “shiny” features rather than addressing foundational business needs and risks.
• Fragmentation of Data: Contracts were scattered across multiple platforms, making it nearly impossible to gain visibility or standardize processes.
• Prior Failure to Implement: The legal team had previously led a vendor selection and attempted implementation but failed to see ROI. The project was eventually abandoned due to misalignment with business objectives and lack of cross-departmental buy-in.

With regulatory requirements tightening and vendor relationships at stake, the company needed a robust and scalable solution to streamline its contract management process while addressing the mistakes of the prior attempt.