90%

reduction in turnaround times

HyperStart CLM

No more missed obligations

2 week

successful onboarding & setup

Introduction

An online asset leasing platform offering furniture and appliances to consumers needed a CLM to automate contracts for their legal, logistics, and marketing teams.

As a consumer goods rental player, they are changing how shopping is done with ‘smart ownership’ of home improvement products.

Primary users from legal, in-house logistics team, manpower, and marketing team. They demoed other popular CLMs but found them unsatisfactory. 

As a company, they believe in smart ownership which is based on on-demand logistics. An ethos that demands speed and adaptability in business relationships and service delivery.

Challenges 

The client’s lean 3 member legal team was managing ~2000 contracts manually every year. This was impractical for time-sensitive contracts that needed multi-party approvals from logistics & manpower, and marketing teams. 

There was no way to see who had the latest version and who had the pen leading. The signing process stretched into weeks and delayed closures.

There were other key challenges:

Contracts were scattered everywhere after signature with no efficient central system to store and track them

There was a greater risk of losing important contracts and missing obligations because of manual reminders and tracking

Solution implementation

Before HyperStart, contract TAT at every stage of the CLM journey was manual and slow without a single smart solution.

The switch has:

Created a single source of truth: They imported all papers and existing digital contracts into one secure accessible cloud-based repository. They can easily AI-search and locate contracts in seconds without the usual hunt.

Left no obligation to chance: The most striking breakthrough was in automating metadata extraction. They are now ahead of schedule on contract deadlines and obligations with automated reminders.

AI extraction is one of the best compared to its peers. The AI extraction feature helps to capture the key points from all the contracts and later, the contracts can be filtered using such data points. This makes the work a lot easier.

HyperVerge CLM

Verified User in Consumer Goods

Mid-Market(51-1000 emp.)

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Impacted key business teams: Nothing validates the success of a CLM more than cross-departmental adoption. The superior user experience makes it easy to understand, adopt, and use for legal, logistics & manpower, and marketing teams.

Accelerated contract execution: They now close deals 5x faster with streamlined approval workflow templates and AI-redlining. Legal and other teams are empowered to focus on negotiating complex deals and contributing to other business goals.

Delivered value in contract TAT: Every step from contract creation to closure can be tracked and optimized. The InFlight dashboard gives insight into action items and metrics to get deals moving faster, making the legal team 80% more productive.

HyperStart helps in keeping track of the contract life cycle at every step, significantly improving contract TAT.

HyperVerge CLM

Verified User in Consumer Goods

Mid-Market (51-1000 emp.)

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Impact

Here’s what contract management at the startup looks like after HyperStart:

All contracts are safely accessible to key stakeholders

Reports are handy and audit-ready at all times

The legal team is 80% more productive

Contracts are closed 5x faster

Future plans

The startup has started a major expansion into more metro cities after its recent funding in 2024. The growth is likely to bring bigger and more complex contract management challenges. They are delighted to have HyperStart powering their contracts as they scale profitably and with increased operational efficiency.

The user-friendly UI and one of the most supportive teams to help us with the integration and usage makes it one of the best CLM tools to come across.”

HyperVerge CLM

Verified User in Consumer Goods

Mid-Market(51-1000 emp.)

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Final thoughts

HyperStart is determined to go beyond problem-solving to capture value at scale. Our team of engineers will continue working closely with their team to make this happen at every turn.