Contract Mgmt | TL;DR
I oversaw the strategy and design for a Contract Lifecycle Management application that enabled our company to improve turn-time for contracts, provide better visibility into status of contracts pending signature, and reduced expense by extending the visible runway for contracts near expiration.
I led out front and got this project back on track to launch within 3 months of my involvement as the Director of the Product Management department by:
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Correcting resource assignment
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Applying user-centric design theory
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Repairing stakeholder & executive relationships
The Challenge
The company had an outdated process for managing contract lifecycles, largely based on email communication. The process lacked transparency, efficiency, and velocity.
The Theory
For employees of Sinclair who need to submit, review, approve or sign contracts for any purpose, ContractHub could be a customized Contract Lifecycle Management platform that delivers faster and easier contract signing with improved organization, access, visibility, and reporting compared to email-based processes. Unlike the competition, ContractHub would completely customized to the unique needs of a complex broadcast media organization.
The Results
ContractHub successfully improved submit-to-sign velocity and increased governance of high risk/value contracts with the newly organized and labeled metadata associated with contracts.
In the first year, the application:
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Decreased average contract processing time by 50%
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Experienced >95% adoption in the first month across 1000+ unique users
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Captured import of 5,000+ legacy contracts
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Supported an average 2600+ new contracts submitted annually
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Managed the lifecycle for $1,400,000,000+ in total contract value