Enhancing Contract Management - RVU Case Study
A parent company to many organisations, including Confused.com and Uswitch, RVU is an innovative data-driven finance and technology company. Their unique set of brands encompass the UK’s largest and most used comparison websites, which collectively help consumers to navigate through thousands of providers to find their perfect match. RVU currently has over 900 employees, 5 brands and 38 million customers globally.
- Small legal team with no resource to implement a complex system
- Visibility into key contractual information needs to be improved
- The department's contract communication with the wider business should be enhanced
- Shareable links allowed the team to easily share key information with the wider business using existing platforms
- Searching for key dates and other crucial information is seamless, and RVU's management of contracts is now cohesive
- The onboarding process was made quick and easy by the Customer Success team at Summize
RVU’s legal team is relatively small in comparison to the size of the business, and they are fully responsible for each contract connected with their portfolio of businesses. The team are responsible for manually reviewing and managing a wide range of contracts across the contract lifecycle.
When the time came to innovate the legal department, they wanted a supplier that would create a long-lasting working relationship and most importantly, a software-provider that they could trust. It was essential for RVU to implement a system that would allow them to conduct fast contract reviews, with features that provided them with easy access to key information and dates.
Natalie Salunke, the Head of Legal at RVU, felt she could invest in Tom’s and Summize’s journey. Back in October 2020, when first investigating the product, she found that she connected with Tom’s mentality as a CEO and lawyer. Natalie states that, since then “a LOT of investment has gone into the product and it has significantly developed”. This was a really important factor for the team, especially as they are a tech-savvy company. They wanted to be a part of the journey of the product as it grew.
By collaborating with Summize, RVU was able to implement an end-to-end automated contract review and management solution that touches on their problems within the contract lifecycle.
The team at RVU have many moving parts, so they need to be able to action tasks quickly and efficiently when they arise.
Being able to track key dates and identify renewal periods is a priority for RVU. If a renewal date for a supplier is approaching, they need to be able to action this immediately. The legal team would normally have had to manually review contracts to find renewal dates and key clauses. This would then be inputted into a spreadsheet and be used internally to track and manage the contracts.
The team at RVU are now on a journey with Summize, working closely with their customer success manager. They can easily access renewal periods and extract key clauses when the business requires it, allowing them to have a holistic approach to contract management and be more proactive when it comes to reviews. Amy Wang, a trainee solicitor from RVU, recalls a project that required her to track all of their contracts and has stated that due to Summize’s fantastic features, the team have renewal dates “at their fingertips”.
With Summize, contract management is made quicker and easier with an interactive dashboard. By using Summize, RVU are able to break down the key information from their contracts to identify important dates, extract key clauses, and see the status of all their contracts at once. The new holistic approach to contract management allows the team to be more proactive when it comes to contract reviews.