Automating contracts and making work flow faster with SpringCM
The Low Down
Moneysupermarket.com is a British price comparison website-based business specialising in financial services. The website enables consumers to compare prices on a range of products, including car insurance, home insurance, travel insurance, mortgages, credit cards and loans. When it came to contract management and document storage, Moneysupermarket.com had no processes in place and they knew that this needed to change.
Moneysupermarket.com deal with a high volume of partner, supplier and provider contracts and needed a streamlined, tangible process for managing these, getting approvals through internal management and storing them securely. Documents were stored all over the place and getting contracts completed, out to and signed by clients was a very manual and time consuming process.
When situations of contractual dispute arose, Moneysupermarket.com found it difficult to find the documents they needed as they were not stored in one central place, but instead on different laptops and on different share folders, making specific contracts difficult to track down. This not only had the potential of legal repercussions but could also have cost them significantly from a monetary perspective. These risks only became exacerbated by the introduction of GDPR with Moneysupermarket.com needing a simple solution that would provide the highest levels of security for the company’s sensitive data, contracts and information.
Automating Contracts and Approval Processes
Our CLM (Contract Lifecycle Management) team worked with Moneysupermarket.com to translate their needs into the technology of SpringCM. Through its customisable workflows, SpringCM has allowed Moneysupermarket.com to automate their contract process, set up and manage approval processes in order to get contracts completed and implement online signatory. This has enabled them to reduce their cycle time for contracts and improve the quality and accuracy of their documents.
A Central Document Repository and Easy Searching
With SpringCM, Moneysupermarket.com now have the visibility and flexibility they required for storing and accessing documents. They have more efficient business processes in place that allows users to quickly and easily access what they need from a single, secure and searchable cloud repository. Having one central location where all documents and contracts are stored, has eliminated the time taken when searching for and locating a contract. Finally, the level of security that SpringCM is able to provide gave Moneysupermarket.com the confidence they needed from a legal and compliance perspective.
“The 4C team are extremely knowledgeable about SpringCM. They gave us great advice and from the beginning they were able to tell us what was doable and not doable with regards to what we required. Throughout the entire implementation process it felt like they weren’t a partner but part of the business. They help you get your solution delivered according to what your exact requirements are.”
Ryan Goncalves, Operations Business Analyst, Moneysupermarket.com
accuracy and quality of contracts and documents
in time taken to get contracts out to partners and providers
that contracts are now approved, signed, and housed in one central location