Resolving contracting bottlenecks with Agiloft

Spectrum Mobility is a consulting firm that leverages technology to help businesses streamline operations and improve their bottom line. The company found itself in an ironic predicament—experiencing the very same contracting bottlenecks they solved for their clients every day.

As the business expanded, Spectrum Mobility struggled with slow turnaround times, inconsistencies in contract language, and difficulty tracking exceptions and expirations—all problems that brought the company’s inability to scale their contracting process to light. Recognizing the urgency of the situation and the consequences of inaction, Spectrum Mobility needed a solution that was faster, repeatable, and accurate.

Enter Agiloft: By implementing Agiloft’s contract lifecycle management (CLM) system, Spectrum Mobility was able to improve their contracting process, increasing efficiency and accuracy to solve their problem.

Identifying the contracting bottlenecks at hand

Less than 30% of organizations manage contracts post-signature with a centralized system. As it turned out, Spectrum Mobility relied on a manual, spreadsheet-based system for tracking contracts: a bottleneck that was straining their contracting process.

This strain manifested as the following challenges:

• Inability to scale: As the volume of contracts increased, the manual system could no longer efficiently handle processing new contracts.
• Lengthy turnaround times: Caused by manual data entry, routing, and approvals, these delays quickly compounded as more business emerged.
• A chaotic, ad hoc contracting process: The lack of consistency throughout the contracting process resulted in contracts with mistakes in language being signed.
• Missed contract expirations and exceptions: Even once contracts were signed, the immense number of contracts made keeping track of exceptions and expiration dates incredibly challenging.

These problems were hemorrhaging Spectrum Mobility’s resources, and — having seen the consequences of ignoring these pains in their customers — they were determined to solve them before consequences arrived.

Choosing the right solution

A longtime Agiloft partner for the past decade, Spectrum Mobility was more than familiar with Agiloft’s CLM platform. Recognizing the need for a system that could adapt to their evolving needs, Spectrum Mobility prioritized a solution that could integrate with other systems and support continuous improvement. Having evaluated various other CLM vendors, Spectrum Mobility ultimately chose Agiloft for its scalability and flexibility. This flexibility allowed them to implement a “crawl, walk, run” approach, which meant gradually automating workflows and enhancing processes over time.

Furthermore, Agiloft’s clause library significantly benefited Spectrum Mobility. By standardizing contract language, the clause library accelerated SOW generation and improved consistency for the implementation team, ensuring a smoother and more efficient onboarding process.

Evaluating the impact

Gartner reports that CLM tools reduce contract approval time by up to 50% — an outcome the business sorely needed. Upon implementation, Spectrum Mobility immediately felt the benefits of implementing Agiloft as they overcame contracting bottlenecks.

• Flexibility and scalability: Without having to rely on workflows with manual (and menial) input, Spectrum Mobility now has a future-proof process in place that allows them to focus on meaningful work.
• Streamlined SOW generation: Manually drafting bespoke Statements of Work (SOWs) is a thing of the past, with Agiloft’s standardized templates and automation capabilities allowing for rapid generation of standardized SOWs within minutes of a request.
• Enhanced consistency and clarity: The implementation of a robust clause library ensures airtight agreements while simultaneously providing clear guidance for the implementation team.
• Eliminated missed deadlines and unprotected work: Gone are the days of missed deadlines and working without valid contracts. Agiloft mitigates the risk of non-payment with proactive expiration notifications and a refined renewal process.

Conclusion

Spectrum Mobility’s journey from being bottlenecked by manual, spreadsheet-based processes to reaping the benefits of an effective, well-implemented CLM solution serves as proof: the right tools in the right places can make all the difference.

Curious for details on how the situation unfolded, as well as what Spectrum Mobility’s CEO had to say about Agiloft? Read the full case study now.