Case Study: Global Financial Services Company slashes contract reporting from 2.5 weeks to 15 minutes and boosts compliance with Corcentric Contract Lifecycle Management

Global Financial Services Company Optimizes Procurement Contracts

Global Financial Services Company, a global investment manager and financial wellness leader, faced compliance and operational risks after a procurement audit found contracts missing required federal/state language and essential vendor data was not readily accessible. The firm established a new provider governance organization to own the contract lifecycle and, after a CLM market search, selected Corcentric Contract Lifecycle Management to create a searchable, centralized contract repository and address audit, reporting, and compliance gaps.

Corcentric implemented its Contract Lifecycle Management solution with OCR/electronic faxing and indexed metadata (about 140 data points per contract), turning 17,500 contract images into a searchable system. The result: report creation that previously took 2.5 weeks can now be done in about 15 minutes, visibility to identify renewals and consolidate spend, clause modifications to improve compliance, and an expected ROI in 12–18 months — delivering faster audits, better vendor governance, and measurable efficiency gains from Corcentric’s CLM.