A global pharmaceutical company had a manual process in place to renew its partner contracts. With more than 1,000 partners and frequent contract updates, a team of more than 10 people processed various updates under a tight service level agreement. Each partner would submit updates and other contract changes to the client team for manual processing and updating in the contract management system. This manual process resulted in delays and errors, not to mention a bad experience for the client’s partners.
Experis provided an end-to-end contract management solution using robotic process automation (RPA) technology. We developed an email automation bot using natural language processing (NLP) that managed the intake of the contract changes. We then deployed an optical character recognition (OCR) bot to read the contract and interpret the changes.
The solution takes in the contracts; reads and finds the changes; then updates the contracts in the client’s contract management systems without requiring someone to process the data. But when a person does need to do a review, we also developed a manual exception handling process.
Our solution immediately streamlined the client’s partner contract renewal process, delivering a better experience for this key stakeholder group. The automated process:
- Cleared the backlog of contract updates immediately
- Reduced manual processing up to 70 percent
- Increased same-day contract closure to 100 percent
- Reduced average contract processing time from 21 minutes to 7 minutes