Global Financial Services Firm
Streamlining Contract Repapering Through Technology Assisted Document Review.
Benefits delivered
Templates & Playbook
Development of reusable contract templates and playbook.
Tech Enabled
Tech Assisted Review of all documents and automated contract drafting.
E2E Software Solution
Build out bespoke matter management technology solution.
>75%
Amendment execution rate of priority contracts
Volume of Contracts: Contracts across various business units and clients, making manual review impractical.
Regulatory Compliance: New regulations on Cayman Data Protection required changes to contract terms and conditions, necessitating thorough review and updates to ensure compliance.
Time Constraints: The requirement to implement the regulatory changes left limited time for manual review and repapering.
The Problem
Our Solution
✓ Templates and Playbook: Development of reusable contract templates combined with an established Playbook for minimising and addressing Third Party queries and feedback.
✓ E2E Software Solution: Build and implementation of bespoke matter management software solution. The platform enabled tracking of the repapering process, providing real-time updates on contract status and progress.
✓ Efficiency Gains: Automated document review significantly accelerated the repapering process, reducing the time and resources required for manual review.
✓ Compliance Assurance: Technology enabled automated drafting ensured thorough review and updates to contract terms, mitigating the risk of non-compliance with regulatory requirements.
✓ Cost Savings: By automating the document review process, Northern Trust achieved cost savings associated with reduced manual effort and increased productivity.
✓ Timely Implementation: The project was completed within the stipulated timeline.
Hear from the client
