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Lupin improved partner regulatory compliance

Lupin uses Icertis Contract Intelligence Platform to transform its contract management process.

Contract Intelligence Objective

Gain total transparency and accountability in contracting to gain efficiencies in rapidly expanding business. Lupin, Ltd. is a pharmaceutical company with $2.32 billion in 2018-19 revenue and operations in over 100 countries.

Solution Highlights

  • Consolidated contract management across operations in 100 countries
  • Total visibility into the status and performance of agreements
  • Documents can be quickly located and referenced
  • Broad adoption of ICI, moving beyond the legal team to business units

Business Challenge

Lupin is a major pharmaceutical company with $2.3 billion in revenue and operations in more than 100 countries. However, despite the scope of Lupin’s operations, the company’s 15-person legal team did not have a contract lifecycle management (CLM) system in place for its contract operations. This created challenges in managing all forms of contracts, which range from complex contracts required for mergers and acquisitions to simple Confidential Disclosure Agreements (CDAs).

Specific challenges faced by Lupin included:

  • A lack of accountability in contracting workflows makes it difficult to create accountability and find efficiencies in areas like contract turnaround time and clause deviation.
  • No way to document why changes were made to contracts during negotiations, blocking visibility into the reasoning behind those changes.
  • An inability to manage a large number of legacy contracts in the company’s possession.

    All told, Lupin’s contract management processes created risk and slowed down business.

The Solution

To address the problem, Lupin created a four-person task force, led by Lupin’s Head of Legal, to find a CLM solution. Requirements going into the selection process were that the system would have to be flexible enough to handle Lupin’s unique business rules and powerful enough to create the transparency and accountability the company required.

Lupin ultimately selected the Icertis Contract Intelligence (ICI) platform. The company chose ICI after determining the platform could be configured to model its contract processes while remaining easy to use.

In particular, Lupin took notice of ICI’s straightforward interface. The interface grants users easy tracking of contracts’ location in the drafting process, and it’s easy to retrieve past documentation of why redlines were made to contract language.

The task force was also impressed by Icertis’ powerful clause and template libraries. These features allow the legal team to stay in full control of contract language across the enterprise while still empowering other users to self-serve on contracts.

Lastly, Lupin was eager to take advantage of Icertis’ advanced obligation management capabilities. These give the company full visibility into all outstanding obligations, so no obligation is missed.

The Results

After 12 months of using ICI, Lupin reports great improvement in its contract management capabilities.

While the selection of ICI was driven by legal, the entire company is now using the system as a central repository for agreements. Legal can retrieve documentation of a contract’s negotiation history faster, accelerating business and optimizing outcomes.

The business as a whole has become more efficient with a contract management system that meets the needs of Lupin’s large and growing business.

Pharmaceutical Industry

Leading Pharmaceutical Companies Are Embracing Contract Intelligence

Icertis Contract Intelligence for Pharmaceuticals offers AI-powered contract digitization, contract-centric sourcing and new insights. With ICI, pharmaceutical and biotech companies are accelerating drug trials while improving compliance in a tightly-regulated, global industry.

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Icertis Contract Intelligence

Standardize, streamline, and automate every contract – everywhere

Transforming contracts into structured, connected, and on-demand data is just the beginning. Discover the power of intelligent contract creation, automation, and insights to realize the full intent and maximize the value of every contract, clause, and obligation across the enterprise.

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