Identifying Contract Opportunities
Keller Williams Realty, a prominent real estate franchise based in Austin, Texas, faced significant challenges in managing their vast array of vendor and supplier contracts. With over a decade's worth of contracts scattered across various departments and legacy systems, the lack of centralized visibility posed a threat to their operations. The absence of a unified calendar for tracking contract renewals led to missed opportunities and potential risks. By utilizing Evisort's AI-powered contract management and analysis software, Keller Williams gained comprehensive visibility into their contract information, enabling them to efficiently mine data for key insights and receive timely alerts for contract reviews.
Investigating Contracting Solutions
Initially considering traditional contract management services, Keller Williams opted to explore AI-powered solutions and turned to Evisort for assistance. The swift 30-day implementation of Evisort's Contract Lifecycle Management system provided a seamless transition for Keller Williams, avoiding the lengthy integration processes associated with other systems. With no coding requirements and immediate usability, Keller Williams quickly integrated Evisort into their operations, enhancing their contract management capabilities.
Achieving Continuing Value
Evisort's contract management system delivered ongoing value to Keller Williams beyond initial ROI by facilitating strategic identification of contracts ripe for renegotiation, especially in light of force majeure clauses and the impact of the COVID-19 pandemic. Through Evisort's AI capabilities, Keller Williams efficiently identified and negotiated contracts leading to substantial cash flow savings. Moreover, the system demonstrated its efficacy in supporting mergers and acquisitions, increasing internal efficiencies and reducing reliance on outsourced services.
Leveraging Evisort for Procurement
Keller Williams reaped immediate returns upon uploading their contracts into Evisort, swiftly identifying redundant agreements that would have otherwise gone unnoticed. The system's accurate tagging of force majeure clauses showcased its contextual understanding of contract language, while optimizing employees' time by automating the identification of key clauses. Evisort's intuitive interface made critical contract information more visible and accessible, empowering the procurement team to address stakeholder queries with confidence and speed.