Contract Lifecycle Management (CLM)
App Studio
Case Study
ContractWorks and GreenShield Canada
Introduction
GreenShield struggled with an inefficient contract management approach, lacking a centralized repository and relying on manual contracting processes. When ContractWorks approached GreenShield, showcasing our comprehensive CLM solution’s potential to enhance and streamline their operations, this fell in line with their digital transformation plans.
Overview
About GreenShield Canada
GreenShield is an integrated health and benefits organization, pioneering the payer-provider model in Canada. GreenShield combines the roles of insurance provider, benefits administrator, and healthcare service provider. This innovative approach enables GreenShield to offer comprehensive care to the Canadians by not only handling insurance and claims processing, but also providing essential health services like mental health support, pharmacy services, and telemedicine.
Challenges
One of the main challenges faced by GreenShield was the lack of a centralized contract repository, which resulted in missed deadlines, lost contracts, and resulted in large amounts of time In-house Legal spent on unproductive work. Additionally, drafting GreenShield’s most complex contract type took the teams an entire workday. Simpler contracts took up an average of two and a half hours to be prepared from scratch.
We had two key tasks for GreenShield onboarding: establishing a centralized contract repository and automating the complex Benefit Plan Booklet template. Additionally, the client wanted to create dedicated workspaces for Legal and Sales departments, separate from the Contracts team’s workspace, setting up unique tailored workflows that are only available within a specific workspace. Finally, due to GreenShield’s activity on the Canadian market, we needed to ensure the teams could easily process bilingual contracts in English and French.
No centralized repository
2,5-hour to a day-long drafting time
Missed contract deadlines
Lost contracts
Results
We created a centralized contract repository, allowing users to find the necessary document using the metadata inside it. Next, we automated the Benefit Plan Booklet by setting up a dynamic questionnaire-style template that adjusts the list of questions and the final text based on the user’s answers, encompassing up to 50 questions. We established separate workspaces for each team working with ContractWorks, equipping them with tailored automated templates and workflows. Additionally, we implemented bilingual functionality, allowing contracts to be drafted in both English and French.
The implementation empowered three separate GreenShield teams to use ContractWorks autonomously. With a centralized contract repository, all teams now enjoy easy access to contracts, boosting compliance, data visibility, and customer experience. Drafting time for the Benefit Plan Booklet decreased from 8 hours to just 1 hour. The overall time invested in handling other contracts was reduced from 2 hours and 40 minutes to a mere 6 minutes. Additionally, Sales greatly improved customer contract signing processes through a native e-sign.
ContractWorks simplified and streamlined GreenShield’s contract management, resulting in significant improvements across their operations.