Pharmaceuticals & Biotechnology
Design and Implementation of an Enterprise-Wide Contract Management System for a leading pharmaceutical company
Client Challenge
The client, a leading pharmaceutical company, faced challenges with managing different types of contracts across various functions such as procurement, sales & marketing, finance, regulatory, and HR. These contracts were not standardized, being stored in different formats and utilizing various templates. UC was engaged to assist the client in designing and implementing an enterprise-wide contract lifecycle management (CLM) system with capabilities such as contract creation, approval or signing process, integration, compliance, document storage and review, contract negotiation process, audits, and reporting.
Our Approach
- Inventory List of Contracts and Contract Requirements
- Create a list of all types of agreements/contracts used by each function.
- Define the role/requirements of each contract type for each function.
- Determine templates for key contract types.
- Define the Requirements from a Contract Management System
- Map the workflows for each contract type.
- Define authorization and approval matrices.
- CLM Vendor Shortlisting
- Identify vendors that provide CLM systems.
- Facilitate demos of various systems.
- Incorporate relevant learnings from vendor practices and systems into client requirements.
- Prepare business requirement specifications for the system.
- Finalize RFP for CLM vendors.
- CLM Vendor Selection
- Invite proposals from CLM vendors.
- Facilitate evaluation of vendor proposals and selection of a vendor.
- Recommend to-be process design and technology solution, including integration with existing systems.
- PMO Support till System “Go-Live”
- Facilitate dialogues with client teams and the vendor throughout the system development period.
- Provide project management support to ensure timely and successful implementation.
Our Impact
The client successfully implemented a standardized enterprise-wide contract management system that streamlined contract creation, approval processes, and compliance checks. This system improved efficiency, reduced risks associated with non-standardized contracts, and provided a centralized repository for all contractual documents, enhancing overall contract management and reporting capabilities.