Contract Lifecycle Management
Build or update your CLM processes with our expert-led, technology-driven solutions
Morae’s Analytics Powered Approach
Leveraging technology to reduce cost, shorten cycle times, and improve quality and stakeholder satisfaction
Successful Implementation of contract lifecycle management (CLM) can facilitate significant improvements in cost savings and efficiency. Additionally, by understanding and automating CLM processes, organizations can limit their liability and increase compliance with legal requirements.
The Morae team leverages our real-world experience to help transform our clients’ legal and compliance functions into nimble, results-driven teams that work smarter and more accurately, efficiently and effectively.
From intake, through negotiation, to administration and every step between, we deliver the right processes, technology, and resources to ensure efficient, cost-effective compliance and legal support for contracts.
We work closely with clients to improve contract negotiation by applying our proven methodology to refine templates, capture institutional knowledge and data, inject best practices into negotiating playbooks, and leveraging technology across the entire contract program.
Choosing the right technology is crucial to improving both efficiency and effectiveness of CLM programs. We have unparalleled expertise, industry relationships, and the product knowledge needed to evaluate technology and make it work for you.
We take an in-depth look at your performance goals and assist you in delivering high quality legal services with the right cost structure.
Key to reducing cycle times
The key to reducing cycle times is standardization, through playbooks, templates, clause libraries and processes, including self-service options for the business and automation of workflows, policies and protocols, approvals, and permissions.
Morae will streamline all phases of contract lifecycle management for the in‐scope contract types (e.g., intake/assignment, drafting/reviewing, etc.) by using the CLM platform and eliminating process exceptions in workflows. In addition, we will leverage complexity matrices to help assign work, prioritization levels for queue management, and cross-training for capacity management.
Add value to your CLM implementation
Calibration: Sample deliverables are prepared and presented to the client to allow for testing and calibration of guidance and training materials.
Four Eyes Review Principle: Fixed percentages of each resource’s documents pass through a four eyes check.
Targeted Sampling: Learnings from four eyes review check allow the QC team to create additional field and resource targeted samples.
Programmatic Searches: Logic and probability-based searches are leveraged to identify documents requiring additional scrutiny.
Random Sampling: Utilizing Relativity’s native sampling capabilities, statistically valid random samples are created to 95% confidence with a 5% margin of error.
CLM Implementation Services
Morae’s implementation services can help you maximize the return on investment in technology with rapid deployment and optimization of the right platform capabilities for your team.
Morae offers experienced consulting professionals and project managers who can guide, implement, upgrade, and enable CLM solutions. Our team includes in-house experience and lawyers who know contracts and understand the demands of the contract lifecycle.
We use a unified approach to assist our clients with each engagement, whether it is a new implementation, an upgrade, or new feature/function enablement. Our broad range of CLM knowledge and expertise ensures that we can deliver on the optimal business practices, processes, and type of project delivery and deployment you require. Our experienced team will even assist with configurations in accordance with industry-specific best practices, including process streamlining to speed the realization of tangible benefits from the solution.
During an engagement, the Morae team partners with you to set objectives based on requirements gathering and then we design, build, test, train and go live in a phased approach. Since we understand change management, we also help you prepare your business from a process and user perspective. Our depth of experience, industry knowledge and commitment to your success ensures that each project will be rigorously managed to deliver on time and within budget. This includes our working closely with our technology partners to ensure you can manage and maintain your solution.
Advantages of outsourcing contract operations:
In addition to assisting clients with the right CLM processes and technologies, Morae is also experienced in supporting day-to-day management of work across the contract lifecycle as needed by our clients, including:
- Effective talent management via right-sourcing of work, including reallocation of low-value work from senior attorneys and contracts managers. This empowers your team to focus on higher value, more satisfying legal work.
- Establishment of a knowledge base for transactional matters (i.e. forms, templates, negotiation guidance and smart repositories for greater contract operations efficiency and legal department cost savings.
- Managed capacity across existing teams to better address growth and changes in the business.
- Enhanced legal “brand” through increased responsiveness, reduced turnaround times and improved process transparency.
- Fully managed services including supervision, training, metrics, governance structure, escalation path and process improvements within the services model pricing.
- Metrics and SLA driven operations to enhance transparency, responsiveness, accuracy, and turnaround time
Experienced Legal Teams
Routine to complex contract
Contract Lifecycle Management (CLM)
Creation of form agreements, clause libraries and negotiation playbooks,
Utilizing machine learning and advanced analytics
HERO – Morae’s Proprietary Methodology
Our HERO approach applies a data-driven perspective to the creation of templates, playbooks and processes for Contract Management.