NCR Corporation, the biggest global name in consumer transaction technologies, does business in 160 different countries and— each year— brings on up to 60 new partners.
The sheer volume of business translates to a lot of fine details to carve out on the contractual level. But perhaps surprisingly, it wasn't always the complexity of contracts that was causing problems – in some cases, it was quite the opposite.
The manual partner onboarding workflow to get contracts drafted, reviewed and signed had grown into a system with a few extra steps. The sales team would, when they were ready to ink a deal with a partner, tap the lawyers in legal to draft the contract. The legal department – already swamped with other work— would be delayed in creating the document. And when they did, oftentimes they would realize that it hadn't really been a job for them in the first place.
That's because while some of the arrangements between NCR and its partners require a skilled lawyer to negotiate legal minutia, many of them are one-and-done deals that could be managed with boilerplate text.
The time that those contracts spent sitting in legal, waiting for review they didn't need, was adding up. It was taking an average of three weeks to sign off on a contract with a partner. NCR planned to expand its presence with more high-quality global partners, but manual contracting processes were becoming the bottleneck for relationship building.
NCR's search for a contracting solution that could untangle this workflow led them to SpringCM. Not only was the company's contracting problem intricate, but the company required optimal cybersecurity and an enhanced CAPTCHA functionality it was finding difficult to get elsewhere.
But throughout the implementation process, Steve Lorenzen, Channel Programs Contract Manager at NCR, found that SpringCM's deployment team were experts with the lingo and the layout of the contracting world. Listening to NCR's needs, SpringCM mapped out the complex relationship between people and paper and built a custom cloud-based alternative that would straighten it all out.
“These guys know what they’re doing," Lorenzen said. "They’ve done a lot of implementations. They have solutions to problems and ideas that you haven't even had yet."
Since the solution was implemented, SpringCM's wealth of knowledge on engineering smooth workflows has been a boon for the sales team, the legal team and the company as a whole.
Now, with the standardized contracts and enhanced workflow, the Programs Team can create and send agreements globally and have them executed in no time. But sales can remain fully confident that if a more complex partnership comes up, legal can easily jump in and do their part.
The numbers reflect this new level of convenience. What was once a three-week process now takes three days. And whereas before, 80 percent of contracts were getting hung up in the negotiation stage, using SpringCM reveals that only 5 percent of contracts are complex enough to require review from legal.
So the difficult contracts go to legal, the easy ones stick with the Programs Team and the process is standardized, streamlined and much, much faster.
"SpringCM gives me the knowledge and capability of a huge company with the feel and relationship of a small-town company," said Lorenzen. "[SpringCM] makes [NCR] feel important and like [our] account and success matters.” SpringCM enables its customers to collaborate no matter where they are. When a contract needs to be drafted, reviewed and signed, anyone involved with the company's globe-spanning operation can take part – as quickly as if they were right there in the office.
"Creating and sending a standard agreement takes less than five minutes," Lorenzen said. "After sending, you get up and go get a cup of coffee, come back, and it’s been to Kenya - Ireland - and back to Atlanta, signed by three people around the globe in five minutes.”
You've heard the beginning of NCR's story. Now you can hear from the people involved with the project in our webinar titled "How SpringCM and Adobe Help NCR Automate Onboarding Across the Globe."
Join me, Chief Customer Officer at SpringCM, NCR's Steve Lorenzen, and Adobe Sign to:
Sign up for the webinar by clicking here!