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ContractWorks and Walmart Canada
Walmart is an American retail corporation with over 59 years of history. It started as a small store in 1962 and has since grown to become one of the most recognized retail brands globally. In 2020, Walmart was ranked as the fourth most valuable retail brand in the world, with a value of 45.78 billion U.S. dollars.
Overview
About Walmart Canada
Headquartered in Mississauga, Ontario, Walmart Canada is the Canadian division of the multinational retailer. With a vast presence in the country, Walmart Canada has established itself as one of the largest employers in Canada. It manages over 90,000 people across its network of more than 400 stores and online divisions, playing a significant role in providing employment opportunities to Canadians nationwide.
Introduction
Case Study
In order to ensure an error-free contract workflow and delegate supplier and sales documents to business units, Walmart's Legal Department collaborated with us to streamline their contracting operations. We conducted a thorough analysis of their existing workflows and identified low-value, low-risk workflows that could be safely automated and delegated.
Challenges
We discovered that zero automation in Walmart’s document workflows led to the extended contract turnaround and bottlenecks in deal cycles. Legal was swamped with routine contracts while business units had zero control over their own contracting. Legal had to draft every document from scratch once it was requested by a business team. Large amounts of data had to be manually copied and pasted across a wide variety of similar documents. Business and legal units were locked in a loop of back-and-forth emails to turn out simple documents.
After our team completed the analysis and rolled out the MVP, Walmart Canada conducted rigorous testing of the ContractWorks solution. The objective was to ensure business units are equipped with efficient, straightforward, and compliant means to draft contracts, limiting the need for Legal to approve each document. Walmart Canada was looking for a solution that would let business teams draft and sign documents directly with their clients within minutes, ensuring no revenue is blocked.
No automation in place
30-minute drafting time
Document errors and delays
Results
We integrated a link to ContractWorks CLM into Walmart's internal website to test automated workflows, resulting in streamlined document processing. With ContractWorks, the time taken to draft a document decreased from 30 minutes to just 5 minutes and 12 seconds, an 80% improvement in document processing speed. This not only saves over 550 hours annually for lawyers but also translates to a value gain of $49,572.
Business teams now have greater control over their document workflows, while Legal focuses on approving and signing contracts, ensuring efficiency and improved business performance. The automation of templates for NDAs and vendor agreements further enhances productivity, making ContractWorks a valuable asset for Walmart's legal operations.
Seamless collaboration
80% faster drafting
Improves resource management
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