Case study

A contracting solution with end-to-end capabilities

Complex industries require contracting solutions that can facilitate a smooth workflow for all. When Supercede was looking for an efficient contract management system that could be integrated easily with the tools they were already using, Precisely was able to offer the solution they needed.  

Takeaways

Background

Supercede is an independent reinsurance technology company that supports the traditional tripartite value chain. The company manages a powerful, data-centric global trading platform. In this way, it is designed specifically for the reinsurance community of clients, brokers and reinsurers. In addition, they are a Lloyd’s recognized organization offering a leading analytics solution in an intuitive placement platform, with access to a global reinsurance network.

Marc-Aurele works as the Senior Vice President of Operations at Supercede, building processes, metrics and setting goals. He is also responsible for all Internal Operations topics, i.e. People, Finance and Legal operations.

Marc-Aurele
The Challenge - a specific tool for contract management

Prior to using Precisely, Supercede did not have a specific tool for contract management when signing their first customers. “We used Word or Google Docs to prepare contracts, Excel or Google Sheets to track, and Drive to store them,” explains Marc-Aurele.

Therefore, what the company needed was software that would handle contracting in an end-to-end process. It was important for Supercede to find a platform that would handle e-signing, templates and negotiation features with redlining and inline comments.

“We understood very quickly that due to the complexity of our industry and intermediaries, we would need to structure our contract management before scaling, which is why we chose Precisely,” Marc-Aurele says.

challenge

“We feel aligned with the vision of Precisely. Not only did it solve our short-term issues, but we will integrate it with our CRM. We now use it to efficiently create contracts as well as to keep visibility on them.”

The Solution - Integration and a seamless contract automation experience

Initially, Supercede used the Precisely contracting platform specifically to generate and store external contracts with clients or providers. After a while, they began using it internally. Then, when the company was approved for a certification last year, People Operations needed all employees to sign an agreement. In the end, it took only a few minutes thanks to Precisely.

Supercede will use the Precisely API to integrate the tools they were already using for a seamless contract automation experience and improved collaboration.

Marc-Aurele continues, “In the long run, we integrated it into our software so that our clients can now directly sign contracts on our platform.”

The Results

To summarize, Supercede is now able to easily produce high-quality compliant contracts both internally and for their clients. Also, Precisely’s contracting solutions now ensure that the entire contract lifecycle is covered from drafting to monitoring. It also includes easy-to-navigate negotiation tools and smart search features. Plus, implementing Precisely through the company was incredibly smooth. 

success

 

“The onboarding was fast. Already in a couple of days we were comfortable creating templates, generating contracts, using metadata, and storing agreements.”

All in all, contracting and workflow has been greatly improved with a solution that works for everyone.