50% of Time Saved on Contract Management
Purple partnered with Summize to create a clever and manageable contract repository, saving them 50% of time on their contract management.
Key Outcomes
Objective
Purple provides market-leading guest Wi-Fi, as well as digital wayfinding and asset-tracking solutions to help businesses understand, identify, and improve guest experiences. Operating across the UK, Purple helps physical venues thrive by enhancing visitor experiences, optimizing staff efficiency, and driving additional revenue with our hardware-agnostic indoor location services.
With a small in-house legal team and hundreds of contracts, Purple struggled to implement a standardised CLM process. They wanted to establish the types of contracts connected with the business and group them more efficiently. The team also needed to generate answers to contractual queries faster so that they could quickly respond to the wider business. On top of this, Purple wanted to create a place where non-legal teams could self-serve, reducing the reliance on legal for low-value tasks.
The Solution
To digitalize their contract process, Summize’s contract repository provided an intuitive and manageable centralised location for all Purple’s contracts. Summize’s Customer Success team also helped to introduce the calendar functionality for legal and the wider business. By implementing Summize, Purple can now easily upload and store every contract and minimize risk with the instant extraction of key calendar dates and renewal date reminders.
The contract repository also contains advanced search capabilities, meaning that non-legal members of the Purple team can now easily search for answers without having to go through legal, saving time for both parties.
Outcome
By digitalizing its contract lifecycle with Summize, Purple has empowered the whole business to self-serve on contractual tasks. The calendar functionality has spread the workload connected with renewal dates, allowing other non-legal members of Purple to take accountability and own the renewal process without having to be reminded by legal.
The intelligent automation of Summize’s Contract Lifecycle Management solution provides instant summaries and actionable tasks, as well as flagging immediate risks across Purple’s contracts. This has saved the legal team 50% of the time it took to complete these tasks manually, allowing them to focus on more strategic tasks.
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