Case Study: Abstract achieves $230,000 in savings and centralizes contract management with Lexion

Abstract Saves an Estimated $230,000 Using Lexion's Repository

Abstract, the leading file-based design collaboration platform, faced a messy contract landscape when Diana Cohen joined as the company’s first in-house counsel: agreements were scattered across Dropbox, Salesforce, DocuSign and individual inboxes, creating no visibility, poor tracking of renewals, slow diligence, and wasted time. To solve this, Abstract turned to Lexion and its intelligent Repository to centralize contract storage and improve access and reporting.

Lexion implemented a centralized, searchable repository (with Slack access for NDAs and order forms), onboarded and extracted metadata from thousands of contracts, and set up automated quarterly reports on vendor engagements and expirations. The changes saved an estimated $230,000 (about $30,000 in onboarding contractor fees, $150,000 by avoiding a contract manager hire, and $50,000 in avoided vendor costs), plus several hours of weekly legal time—demonstrating clear cost and time savings from Lexion’s solution.

Abstract

Diana Cohen

Head of Legal and Compliance