Benefits of Automating Contract Administration
In the ever-evolving business landscape, the implementation of Robotic Process Automation (RPA) has proven to be a game-changer for several companies, and [Company Name] is no exception. The contracts operations group at [Company Name] has embraced this technology, leading to significant improvements in internal relationships, reputation, and overall business performance.
The journey began when an employee, armed with newfound skills, started building custom bots as a citizen developer. This employee, now a champion of automation, approaches every new task with the question, "How can I automate this?" This shift in mindset has been instrumental in driving the group's digital transformation.
The first bot introduced, aptly named "Connie," received immediate positive feedback from sales and leadership. Connie, along with two other customized bots, streamlined the business involved in the review and processing of commercial documents for signature, including order forms, statements of work, and governing agreements. One bot updates the status of document requests within Salesforce and archives documents once signed, while another prepares Adobe Sign envelopes for signatures. The third bot cleans up queues to ensure accurate reporting.
The group's collaboration with the technology team resulted in three customized bots that have automated various aspects of contract management. These bots have not only accelerated and streamlined tasks but also reduced manual processing errors, freeing the team for higher-value work. The success of these bots has been so significant that Connie is often mistaken for a real person by some team members.
The group's partnership with the sales team has been instrumental in the success of RPA implementation. By automating compliance checks and contract reviews, RPA has built trust among departments, ensuring consistency and accuracy in contract management. This improved trust has boosted the group's reputation within the company, with the contracts operations group now recognized as an innovator.
The positive impact of RPA extends beyond internal relationships. The enhanced compliance and increased efficiency have improved [Company Name]'s reputation in the market. The reliability and accuracy of contract management have led to a perception of reliability, crucial for maintaining strong business relationships and reputation.
The implementation of RPA has also significantly improved productivity and efficiency. The group has been able to process contracts faster and with fewer errors, leading to a substantial increase in transaction speed and reduction in operational costs. This boost in productivity has allowed the team to focus on strategic tasks, potentially leading to better decision-making and business strategy formulation.
Moreover, RPA has enabled the contracts operations group to move into a more strategic partner role within the company, starting from Q3 and Q4 of 2018. Due to the increased workload, team members were working late into the night, over holidays, and on weekends. However, the deployment of RPA bots has alleviated some of this pressure, allowing the team to maintain a healthier work-life balance.
In conclusion, the implementation of RPA in contract management at [Company Name] has fostered better internal relationships, enhanced reputation, and boosted overall business performance. The group's success serves as a model for other internal groups looking to incorporate RPA into their workflows, demonstrating the transformative power of this technology in the modern business world.
In the realm of artificial-intelligence and technology, the contracts operations group at [Company Name] has leveraged Robotic Process Automation (RPA) to drive business growth and innovation. With custom bots streamlining contract management tasks, the finance, business, and industry sectors have benefited from improved efficiency, reduced errors, and a shorter turnaround time, thereby fostering a stronger reputation within the market.
