LEGAL SERVICES OVERVIEW - CONTRACT MANAGEMENT

LSS CONTRACT MANAGEMENT SERVICES– KEY DRIVERS

EXL provides industry-specific technology solutions to legal clients, while also providing legal support services

Providing optimized solutions takinginto consideration:

• Client metrics and guidelines

• Client preferred positions

• Business and legal nuances and preferences• Optimal cost models that o�ers the potential

for savings

• Saves more for the client than the expenses incurred

• Creating virtual collaboration libraries and repositories for contract clause guides standard templates and negotiation playbooks for contracts

• Analyze and understand actual business expectations and benefits

• Transparent, real-time solutions that cut down turnaround time for contract executions

EXL vision of risk assessment in management renders following benefits:

• Minimizing business and legal risks

• Ensuring maximum business and legal protection

• Transferring and managing risks with other party’s concord

• Proficient in multiple legal bill review platforms- Legal-X, CounselLink and Passport

• Skilled in leveraging the latest contract management tools like SAP Ariba, IBM-Emptoris, Coupa, and Oracle-Q

• EXL’s proprietary tool MedConnectionSM can be tailored as per client’s requirements

Latest Technology and Infrastructure

Risk Assessment and Management

Comprehensive Approach

Rapid Turnaround Time and Speed

Best Practices

Reduced Cost

CHALLENGES FACED BY CLIENTS

Reduce legal spend on a sustainable basis

Reduction in contract execution cycle time

No standardized and centralized processes to prioritize processing of a contract

Need to improve timelines for contract executions

No tracking of deliverables& obligations as per each contract

Limited bandwidth to process significant volume

of contracts in timely manner

END-TO-END CONTRACT MANAGEMENTSERVICES FOR PROCUREMENT DEPARTMENT

(in case of denial)

• Contract abstraction (abstracting key terms)

• Contract indexing and summarization

• Contract deliverables and obligations (D&O)management

• Supplier SLA reviews - action and remedy for anydeficiencies observed in contract

• Analysis of scope or terms and conditions of contract

• Contract compliance

• Contract compliancemanagement

• Reporting

• Planning, authoring,development,implementation andcreation of contracts

• Contract rule book creation

• Routing contracts forsignatures, executionand finalization

• Setting up and registering thesupplier in customer contractsmanagement portal

• Supplier administration(information and status changes,insurance renewals- notificationand escalations)

• Contract review, revision and redlining

• Creating parent-child relationship

• Coordinate actions with internal procurement,business, risk assessment and legal teams as needed

• Contract negotiations with third parties

• Obtaining approvals from internal business, legaldepartment and other stakeholders

• Negotiation with vendor and business

BENEFITS AS SEEN BY CLIENTS

CONTRACTMANAGEMENT

LIFECYCLE

StandardTemplateCreation

PlaybookCreation

Authoring &Dra�ing

Negotiation with

Stakeholders

ContractApprovalProcessSupplierOnboarding

& P2P

ContractExecution

ContractAdministration

Obligation & Risk

Assessment

ContractCompliance and

Optimization

Reporting

High qualitylegal support

Cut down onturnaround time

Consistent and highquality work

Transparent,real-time solution

An extended arm to the client’s legal department

Parent-child nested relationship

Supplier pricing tracking

Clients can track suppliers’ performance

Contract compliance and timely renewal

Deliverables and obligation management (D&O)

Suppliers’ e�iciency analysis as per performance

Significant reduction in legal spend, while

reducing attorney case load

Tracking of amounts payable to suppliers as per contractual

obligations – ensuring surplus is not paid

Validation of SLA compliance and supplier benchmarking/

comparison (cost optimization and service credits and savings)

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Contact Us to Learn More

Chris Tidball

Chris.Tidball@exlservice.com +1.904.742.9031

Vice President, Sales and Claims Transformation

exlservice.com/insurance

https://www.exlservice.com/insurance