Case Study: National Life Group Uses Contract AI to Improve Contract Turn Around Time By 71%
Key results
The challenge
National Life Group's contract creation and management were largely manual and non-standardized, with common provisions sourced from a clause library kept in a Word document. With 98% of contracts on third-party paper, the legal team struggled to review large volumes of non-standard contracts, and turnaround time was around 90 days with zero visibility into which part of the workflow caused bottlenecks.
The solution
Sirion implemented a full-lifecycle CLM for NLG including workflow management with a contract playbook, a centralized searchable repository using AI to extract common terms, a customizable analytics dashboard, automated authoring with real-time prescriptive suggestions, and a built-in redlining feature for third-party negotiations.
“Now we're getting the right data we want. I consider Sirion a huge, incredible partner, and my experience with Sirion has been phenomenal.”
The results, in context
Automated workflows reduced National Life Group's contract turnaround time by 71%. The company digitized 570+ contracts and onboarded 306+ suppliers, and reporting and analytics helped NLG identify workflow bottlenecks while improving compliance and obligation management.