Case Study: AI CLM Increases BNY Mellon's Visibility Into Over 78,000 Contracts
Key results
The challenge
Before Sirion, BNY Mellon's contracting operations were spread across multiple IT systems, with contracts generated on SharePoint and reviewed over email. Teams depended heavily on Legal to draft and approve contracts, creating bottlenecks, and the bank lacked audit trails, obligation monitoring, standardized clause libraries, and supplier validation checks.
The solution
Sirion migrated the bank's 78,000+ contracts into a centralized repository and digitized the authoring process. Its contract AI auto-extracted templates, clauses, and 100+ metadata fields, set automated workflows with embedded GSCM compliance checks, pulled data from the bank's risk and procurement systems, and provided an organization-wide obligations dashboard.
“We just lacked visibility into our contracting progress and process as a whole. Everything was manually done via e-mail; we logged into a SharePoint to engage with our legal partners.”
The results, in context
By minimizing unnecessary cross-team dependencies, BNY Mellon reduced contract turnaround time by 50%. Over 78,000 contracts were centralized into a single repository and 100+ metadata fields were automatically extracted, improving governance and giving departments self-service visibility into contracts, templates, and clause libraries.