A leading healthcare services company refurbished its contract lifecycle management system, leading to centralization of data and compliance

Client background

Client: A major US-based healthcare technology and business services company

Industry: Healthcare

Products & Services: Analytics solutions, Consulting services, Business solutions, IT services

Area of Operations: Worldwide

Number of employees: Over 100,000

Challenge

The client had acquired several small pharma entities. On acquisition, the huge bulk of contracts and its compliance requirements became the client’s responsibility. It was difficult to access and plough through the content of the contracts, which were in the acquired entities’ environment. Additionally, the contracts, numbering more than 125,000, ncluded duplicate and non-contractual documents.

The client wanted to migrate these contracts to its Contract Lifecycle Management (CLM) platform, weeding out duplicate contracts and non-contractual documents while maintaining accuracy in abstracted information. The need was access and visibility into all contracts, and timely compliance and renewal.

Solution

Wipro’s Legal Processing Services arm performed contract management services for the client.

Business impact

Wipro moved all acquired entities’ contracts to the client’s CLM platform, weeding out all fake and irrelevant documents.

This centralized the data and ensured compliance, leading to enhanced productivity and efficiency.

• Visibility into 100% of contractual liabilities at the click of a mouse
• Addressal of 25% of contracts which needed immediate renewals
• Refurbishing of the contract lifecycle management system
• Contractual compliance, leading to positioning of the client as a ‘compliant vendor’
• Easy access to all contracts of the acquired entities

It was a challenge to assimilate contracts of all the companies acquired by the client and to then abstract all important values of each of such contracts. Our team completed the project ensuring 99% quality, delivering well ahead of the deadline.

 - Varsha Bhatt, Head - Legal Process Outsourcing, Knowledge Services, Wipro Limited