Roche Diagnostics has grown steadily since it was founded in Switzerland in 1896.
Their global expansion was accompanied by a steady rise in the number and complexity of contracts. Every year, thousands of new agreements were created using disconnected applications and manual processes.
With multiple stakeholders located in many countries, contracts were prone to errors and fraught with unnecessary risk. The data contained in each agreement was unstructured, making it difficult for other systems to access business-critical information. Without timely alerts on renewal dates or other milestones, it was time-consuming work to track key obligations or hold third parties to their commitments. The company wasn’t able to capitalize on every opportunity. The inefficiencies inherent in the system made it difficult for internal departments to collaborate, while it strained relationships with external parties.
Roche urgently needed to replace their manual contracting solution to support their growing business.
The Icertis Contract Management (ICM) platform introduced several capabilities requested by the legal team, including contract risk profiling, clause deviation analysis and commitment tracking. Automating repetitive tasks accelerated the approval process. The contract management software facilitates collaboration while holding contract administration costs to a minimum. In addition, Roche can easily monitor contractual obligations, providing the information necessary to reduce contractual risks.
Today, Roche has end-to-end visibility into the contracting process, allowing the company to focus on delivering a broad range of innovative pharmaceutical products to improve the quality of life of people around the world.