SolveCube reduces its contract cycle times by 45% with Zoho Contracts
With Zoho Contracts, Chief Operating Officer Uma Jagadeesan and her team at SolveCube were able to refine processes, minimize costs, and improve speed to market by 45%. She believes this number could go up to 75%. SolveCube’s pipeline started growing steadily over the pandemic, and Uma’s team anticipated that the number of contracts they signed would triple in no time. She decided it was time to remove manual processes and bottlenecks that were slowing down contracting operations. Her team was able to achieve this with Zoho Contracts—the advanced analytics and extensive obligation management came as a bonus.
Industry Type:
- Workforce Solutions
Employees:
- 25-30
Type of business:
- Online platform
Features that helped us:
- Predefined and customizable contract templates
- Central repository
- Approval workflows
- Esignature
- Advanced Analytics
About the company
SolveCube is a workforce solution platform that launched in 2018. It aims to provide flexible workforce solutions by connecting businesses with industry experts and CXOs who, as consultants, can help businesses solve their challenges. The company offers quick access to over 450 million talented experts worldwide for full-time, part-time, turnkey, or advisory roles. Their AI algorithm instantly matches and ranks profiles for companies based on a rich set of parameters. The company also offers HR-ready toolkits, in addition to providing a wide range of HR technology and non-tech solutions.
The challenges
Slow manual processes
SolveCube is a start-up, and like many others, it adopted manual processes for most operations. According to Uma, this manual approach was the biggest challenge for the company and was affecting their speed to market.
Availability and accessibility
One key issue was that the company was storing contract templates across disparate folders in Dropbox. This caused confusion when it came to accessing and creating new contracts, since the team did not know which template was the latest version and whether it was reviewed. It also impacted contract reviews with the legal team, as there were several clarifying emails sent back and forth.
Duplication of templates
Another major challenge for the company was dealing with global clients. This meant multiple versions of the same templates were to be created for minor tweaks in the language based on geography.
Our pipeline was growing so fast that we had to stall growth at one point because we did not have the necessary applications to keep up. That was our tipping point.
The solution: Zoho Contracts
The clear solution for SolveCube’s contracting challenges was a contract lifecycle management system. Their CEO, Chandru Pingali, is a strong supporter of digital transformation and wanted to quickly set the right digital foundation for the business while keeping scalability in mind. Since Uma and her team were already using Zoho Books and Zoho Recruit, Zoho Contracts popped up in their discussion. Their decision to go ahead with Zoho Contracts was sealed when the product demo impressed Uma.
Simplified contract authoring and improved visibility
The self-service capability in Zoho Contracts for contract creation and authoring ensured that even users without legal expertise could create and share contracts from the latest versions of the templates.
The central repository in Zoho Contracts enables the team to store all their contracts in a single place, giving them improved visibility, while the search and filter options allow them to access critical information whenever needed.
Better control over end-to-end contract management
SolveCube made optimum use of Zoho Contracts to automate and streamline their contracting process. Approval workflows ensure stakeholders are aware of all the risks and opportunities associated with a contract. The built-in esignature integration helps them get contracts signed in minutes, improving turnaround times.
The advanced analytics in Zoho Contracts helps admins refine their processes. They’re also starting to track and manage contractual obligations at an individual contract level.
The ability to add multiple languages for the same clause in templates, and the advanced document assembly feature that enables us to switch between languages with just a click, made the earlier cumbersome authoring process a breeze.
The outcome
SolveCube increased efficiency across multiple aspects of their contract management process with Zoho Contracts. While the team once scrambled to find suitable templates for their clients, Zoho Contracts has made this process much faster. Plus, these templates are almost always deemed acceptable by the client in the first go, which saves SolveCube time on all subsequent stages.