Digitization of Contracts
Hours Saved Per Month
With a wide network of consultants (sub-contractors), Cansulta offers world-class consulting services to clients across industries, regions, and knowledge areas. Since their customers often need help to solve critical business issues, it is crucial for them to reduce delays and ensure that their customers get quick, easy access to the professional services needed.
When the business was first launched, most of the contracts were standard, and the number was limited. Therefore, it was possible–but not easy–to manage them manually. However, as they began to grow, contract management became a nightmare. They realized that they needed a more efficient way to manage their contracts to scale the business efficiently and to achieve growth targets.
Being a startup, they did not have a contract management process in place. They were putting all their contracts – both buy-side as well as sell-side – in a shared drive. They would just sign contracts, and then they would be saved on the server.
Challenge #1: Sub-contractor management was challenging
Before Revnue, Cansulta used Google Sheets to track their contracts. As their network grew and more consultants were onboarded, managing this spreadsheet became difficult and time-consuming. Data was accidentally overwritten or lost with multiple users making updates. With time, the contract components became more complicated. Instead of a standard contract for all contractors, they began to have multiple versions with variations in the terms for some. Soon, it became impossible to track everything manually. They had very little visibility into which contractor had signed which version, what terms were agreed upon, and when they signed the contract. As they grew, they expected the complications to multiply further.
Revnue provided a central repository to store and track all of Cansulta’s contracts individually. Every detail and variation in term was captured. Tracking became effortless and accurate. With Revnue, it has become easy for Cansulta to grow its network without missing out on any critical detail, big or small.
Smart Repository provided a central place to store and manage contracts, simplifying the contract management process for small businesses that don’t have the skills or resources for formal contract management.
Thanks to Revnue, we now have a way to manage our contracts on both the supplier and customer side. All of our manual processes suddenly became automated thanks to Revnue. The time saved every month means more time I can put into meeting with customers. I couldn’t have asked for a better solution.
Alexandra Kapelos-Peters, Founder, Cansulta.com
Challenge #2: One person had to do it all
Being a small company, Cansulta had to multitask and do everything themselves. They didn’t have a formal team or people who were responsible for contract management responsibilities. As a result, contract management was often ignored and impacted their business adversely.
Revnue helped Cansulta get organized without requiring additional resources. The initial setup took just a few days, and after that, most processes were automated. Now, they can track their contracts effortlessly. The entire process is transparent, and anybody can pull the required information without dependency on anyone else. It also helps their team save on time spent on manual, mundane tasks.
System-generated alerts and notifications help the Sales teams get proactive. They can start discussions with customers well in advance and begin renewals much faster.
Challenge #3: Lack of a structured way to look at contract information
On the buy-side, Cansulta was purchasing many software and SaaS services. However, there was no structured way to easily view or extract that information. Getting answers to simple questions like: “how many video-editing tools do we have, how many licenses did we buy, when are the renewals due, how much do we pay for them” would take a lot of time and effort. As a result, important information often went unnoticed. Trial and refund deadlines were missed, and money was wasted on products and licenses that were unused and unnecessary. Even on the sell side, they would issue proposals, send them to customers, and lose time waiting for signatures and manually tracking their status.
With Revnue, Consulta can get almost any information they need with the click of a button. This not only reduces the workload, it alsobrings many additional opportunities to save money and to generate more revenue.
Revnue’s advanced search capabilities provide accurate information to the minutest level of detail, all in just a few seconds.
We wanted to have the same expertise and smooth processes for managing our contracts as larger companies with thousands of employees. However, we didn’t have the budget for full-time staff or very expensive systems. Revnue brought a small business like us the same high-quality expertise and benefits enjoyed by large enterprise without the high-cost burden.
Alexandra Kapelos-Peters, Founder, Cansulta.com
Cansulta chose Revnue because it helped them:
- Organize contracts in a central repository
- Implement a formal contract management process
- Get proactive with reminders, notifications, and alerts
- Easily search for any information they need
- Get ahead of deadlines, negotiate better, and accelerate renewals
- Diversify and grow their business by reaching out to more people across locations