Solution Showcase | Contract Management: From Renewal to Vendor Relationship Management

Hello, and welcome. I’m Bree Taylor with Origami Risk, and we are glad you joined our solution showcase today. Today, we will demonstrate the latest contract management offering from Origami Risk. This is a configurable end to end contract management solution that allows users to create, collaborate, electronically sign, and manage agreements of all types and stages from renewal to full vendor relationship management. I’m joined by Lexi Wagner, a technical product manager at Origami Risk, who will walk us through how this can be accomplished with the solution. We’ll answer Q and A after Lexi’s showcase, so enter any questions you have into the chat box along the way. If we don’t get to the questions at the end, we will follow-up with you. With that, let’s take a look at contract management with Lexi. Origami has added a more robust contract management offering to our system. It can be standalone and used by any client in any market, and it also fits well in our vendor risk management offering. So can be standalone, can also pair well with vendor risk management if you’re in the GRC space. We’re going to do a little demo today. It’s this high level. It’s going to show you the offering at an overall level. So we’re going to start with the vendor record in Origami. This is the vendor record. You can see this is a vendor record for Origami risk. You can also see at the top that we’ve added KPI card metrics that can show anything you like, but right now it’s showing the number of active contracts and the number of expired contracts for this vendor. If you then look to the bottom of the screen, you can see a list of those contracts that make up those KPI cards. You can see over here we’ve highlighted which ones are active and which ones are expired, and it’s sorting by expiration date so that you have the most recent contract at the top of the list. We’ll go right into the most recent contract. So you can click right into this grid, and it will take you right to the contract record. You can see here there’s general contact contract details at the top and then a lot of additional functionality at the bottom of the screen. We’re going to edit this contract and show you the details that you can store on this contract record. This new contract management offering gives you the ability to either start with an existing file and upload it right from your computer. You can start with a blank file if you’d like to create the contract right in Origami, or you can even load predefined templates to start the contract from right in the system. So in this case, we’ve uploaded a file. You can see here, you can easily replace that file or again, can go from the template or a blank file. Below that are details of the contract. So we have the title of the contract, some of the information, as well as details of the contract, such as vendor information, expiration date, and effective date information, as well as who submitted this contract in Origami. As you know, Origami is highly configurable, so this screen can be configured to meet your needs to add any additional fields you would like to track in your contract management solution. I’m gonna go ahead and back out back to the contract, and we’re going to show you now how you can edit the file right in Origami. So as we said, we started with an existing file, but you can still edit that file right in Origami to make changes and add red lines for any changes that you make. Origami, once you save these files, will also store any drafts and any previous versions that you have edited in the system. So it stores all of those with a record of who saved that draft and when, and it also gives you the ability to restore that draft if you would like to go back to a prior version. One other nice feature of our contract management solution is the ability to link contracts together. So as you saw, this is actually a contract amendment, and we’ve linked it down here to the original contract. So you can link these contracts together and easily navigate two related contracts right in the system. So now you can see we’re on the renewal. I’m going to now talk a little bit about all of the extra functionality that this contract management solution offers. All of these grid panels down here offer functionality to collaborate with others right on this document. So we have additional owners, which allows you to give access to users in the system to effectively give them the same permissions that you’re seeing here. They can edit the contract details. They can edit the file. They can add any of the related records on the right here as well. They can also, if you add them as an additional owner, give access to others via the grid panels below. This is users only, so only users can be owners of these contracts, but you can give external users or external individuals access to this file using these other grid panels down here. So file access gives someone the ability to edit the file via a grant access link. So once you give someone an assignment to this contract, can specify an external assignee and once you populate their email address and save this, it will send them an email with a link directly to edit the file. That does apply red lines. If the person that you sent this to makes any changes to that file, you will see those changes on the document via red lines. And it will also save drafts if they do make changes so that you can always restore your original version of the contract. Review access is a little bit different. So this panel, again, can be a non named user. It can be someone external. It can be, used to give someone access to approve or deny this contract. This does allow editing so you can give this person edit access but you don’t have to. So in I have an example set up here where I gave an external user access to this contract. They cannot edit it, but they can see these buttons to approve or reject the contract and add any comments as to why they’re approving or rejecting this. If you give them edit access, it will look like this, but they can also edit the contract below in addition to approving, rejecting, and adding comments. Download access is the ability to send someone a link to download the file once it’s completed. So if you just want to send a link for someone to download the file, you would use download access and they would just be able to download the file to their local machine. They wouldn’t be able to edit it or do anything additional other than downloading it. Finally, we also have the ability to send these documents or contracts out for signature. So I’m going to now navigate to my original contract so you can see that we do have e signature requests tied to these contracts. So you can use your e signature vendor. We also have a contract with DocuSign. If you would like to leverage DocuSign to send these contracts out for signature after they are completed. You can send them out to be signed and completed. Thanks so much, Lexi. We have time for a few questions. So our first question is, who can use this solution? Yeah. So anyone can use this solution in any market that has Origami as the system. It is a standalone solution. So truly, anyone can use it. But as we said earlier, it does pair really well with our vendor risk management offering, as well as our Remus offering, as you can tie it to other records in the system, such as your vendor records and your certificates of insurance. So anyone can use it, but especially in the VRM or Rimus space. Okay. Perfect. And next, what type of contracts can be managed with this solution? Any type of contract can be tracked and managed in this solution. We do have the ability to configure different forms and workflows and all of that additional functionality different by type. So if you have like first party and third party contracts that you want to track, we can configure the forms and workflows to be different based on the type, but we do track any type of contract in the solution. Thank you. And you kind of alluded to this before, but what, in your opinion, are some of the main benefits of using this robust solution that allows a lot of collaboration with external individuals. So really the main benefit of using this in origami is that you can rope in anyone else into this process very easily and track it all in the system and see all of that history right on the record. Think also the ability to associate this with other records in origami, that’s the power of origami being a relational database is that you can tie this to all of your other records in the system like certificates of insurance and vendors and all of those things, which just allows for a lot better reporting and more linkage between your records rather than using external contract management system. Really allows you to see the end to end workflow and relate it to different records in the system. Perfect. Thank you. Well, I think that is all the time we will take from everyone’s busy schedule. Thank you to everyone who joined us, and we will send a follow-up email with the recording and related resources. So with that, I want to thank Lexi for joining us and our attendees today as well. Thank you for your attention and have a wonderful afternoon. Thank you.