Contracts are the foundation of any business. 60-80% of business transactions are governed by contracts or agreements. They contain the vital details of an organization’s relationships with its partners, suppliers, customers and employees. As the organization grows, so does the contracts, it becomes cumbersome for an organization to manage, track them.
If the in-house legal department spends all their time on only them, they can never get to do any strategic & core operational work. CLM outsourcing will help free your teams from repetitive administrative tasks, which can represent as much as 30% of their time.
Failure to follow up and manage contracts throughout their life-cycle often results in the revenue leakage, increased cost, oversight of deadlines legal & regulatory requirements and other compliance, higher chances of litigation etc.
1-2% improvement in contract revenues
75-90% reduction in erroneous payments
30% increase in renewal revenue
70% reduction in legal cost
90-100% abolition of auto-renewing contracts
90-100% increase in compliance with law, regulations & policies
50% faster contract negotiations
10-30% reduction in operating & processing costs
10-20% reduction in head account or increase in productivity
Integrated contract management capabilities can deliver a 3-5% reduction in procurement expenses
Aeren LPO Offerings
Contract Drafting, Negotiation, Red-Lining and Execution
Contract Abstraction & Summarization
Contract Close Out Services
Post Execution Contract Administration
Contract Standardization and Harmonization
Contract Audit and Data Cleansing
Lease Abstraction & Administration Services
Gap Analysis with Standard T&C and Clauses
Contract Summarization Services
Aeren LPO specialization in the following contracts in particular
AEREN LPO has spear headed a new approach to support your day-to-day commercial contracts including but not limited to:
One of our clients from USA opted for the complete Contract Lifecycle Management Services.
Aeren LPO initiated the process as per client’s requirement through initiation to execution stage. We focused on entire contract administration, which involves contract request, contract author, contract negotiation, approvals, execution, amendments, revisions and repository storage.
During this stage, our 24*7 help desk was always there at client’s disposal so as to fulfill any query if raised.
In such a case where client’s contracts were to be renewed and not to be disposed, our legal team assisted the client in getting the contracts renewed as per the terms and conditions of the renewal.
AEREN LPO India (certified ISO 27001 and 9001) is a leading and well established distinguished Group of Indian attorneys specialized in providing diversified technology enabled qualitative and cost effective End-to-End Legal Process Outsourcing Services of international standards to multinational corporations, legal firms, Onshore LPO entities and legal publishing houses since 2006. Aeren LPO tagline is to provide “More with Much Less”. Aeren LPO adds greater strategic value through fully managed legal services to staff augmentation by acting as a “Offshore Virtual Extended Legal Department” of its clients with its innovative and transparent pricing models. We believe that two heads perform better than one.
We have fully developed Offshore capabilities and create measurable and meaningful strategic value by leveraging our expertise, experience, fully developed low cost delivery model & cultural excellence.
Our End-to-End contract management service offerings empower your teams to do more with less at each stage of the contract lifecycle. Our business solutions and services help accelerate innovation, increase productivity, reduce costs, and optimize asset utilization
We have a team of over 175 diverse experienced attorneys, which are handpicked from the best law school from India and are very well versed with US Law. Our AEREN LPO Academy keeps them abreast with the latest law, amendments and happenings in the legal industry through continuous education and training. We always allocate dedicated team to each client to ensure quality, efficiency & stability.
Our key clients include Google, Yahoo, HP, Booking.com, Regus, Mentor Graphics, Pepsi etc.
Other CLM Services
1. Gap Analysis with Standard T&C and Clauses
GAP Analysis is a technique used to determine steps to be taken to move from the present state to other desired state and involves listing out the gap between the current and future rectified changes in factors to achieve the expected result.
Aeren helps its Clients in capturing the standard deviation or the discrepancies from the standard template of an organization.
For Instance: In the standard agreement, the payment is due in 30 days but in the other party’s template the payment is for 45 days. So here, the deviation is of 15 days from the standard language.
2. Contract Management Services for Merger & Acquisition
a) Contract Abstraction & Summarization
b) Contract Analysis for Renegotiation
3. Contract Summarization Services
Contract Summarization is the process of summarizing the important points using few words with the aim to simplify the most relevant terms and clauses of the contract. The entire contract is summarized in a short and pointwise manner to easily understand the key information of a contract. It’s useful for a quick reference and review.
4. Contract Audit Services
Contract auditing involves an examination of the already executed agreements. The intent behind a contract audit is to ensure that all the compliances and obligations should be complied.
Why Aeren LPO for CLM Services?
Huge Cost Savings through Pricing & Matrix’s
Deep Expertise working with leading CLM Software
Delivering value through improvement in contract compliance and cycle time reduction.
Delivery value through effectively managing all aspects of contracting, including solicitation, creation, negotiation,
Value through standardization of contract template and creation of clauses libraries for quick contract creation reducing TAT by 30
Time saving through expedition of negotiation and approval process
Improved response rate (from 65% to 90%) over expiring contracts, and reduced risk of expired contracts.
Reduced effort around contracts administration by 25%