Case Study

FTI Technology Provides Contract Lifecycle Management Transformation, Supports Merger Readiness for Leading Food Retailer

On the heels of an extensive information governance, privacy and records management overhaul supported by FTI Technology, a large North American retail chain was pursuing a contract lifecycle management (CLM) implementation. The company aimed to centralize its contracts, deploy a new CLM tool, establish new contracting policies and improve workflows ahead of a planned merger. FTI Technology’s Corporate Legal Operations experts were engaged to ensure the project remained on course and provide a full transformation of contracting processes.

Our Role

FTI Technology’s Corporate Legal Operations experts began at the process documentation and legacy contract migration planning phase of the project.

To date, the team has provided the following in this ongoing engagement:

  • Process documentation, including defining workflows and required escalations for who must review specific terms and conditions (across sourcing, privacy, security, finance, etc.) before contracts are considered final. FTI Technology interviewed key stakeholders within the company, including commercial attorneys, legal operations, strategic sourcing, finance and IT to understand the full end-to-end process for each unique type of contracts.
  • Developed a comprehensive contracting policy outlining permissions for signature according to different types of contract provisions and value, guidelines for subcommittee review for high value contracts, storage rules for contracts, and requirements for metadata tags.
  • Supplemented the client’s clause library with governance parameters for how to manage the clause library, who has authority to change clauses and how frequently clauses must be revisited.
  • Defined roles and responsibilities for the various stakeholders in the end-to-end contracting workflow to be enabled by the selected CLM system.
  • Established key repository policies, including naming conventions and metadata tags for contracts so they can be easily organized and managed within the CLM tool.
  • Migration strategy and execution to move tens of thousands of supplier agreements and hundreds of thousands of real estate and construction agreements from disparate sources into a single system. Through meetings with numerous repository owners, the team developed a phased and prioritized migration plan for the contract categories
  • Initial implementation planning and ongoing support for implementation change management, including training plans and materials to support and engage employees as they adopt the new CLM policy, workflows and software.