Focal Point for Finance Organizations
See how Financial Services organizations can centralize their intake processes and improve their contract management with Focal Point.
Company Overview
A large US-based finance company with over $17B in revenue was bogged down by inefficient contract and purchase order management. With requests coming through numerous channels (email, phone, etc.), information was often incomplete or delayed.
Further, contract and purchase order management relied heavily on manual tracking through spreadsheets, causing fragmented processes and limited visibility.
The Solution
The company adopted Focal Point to centralize and streamline contract lifecycle management (CLM), intake management, and data orchestration.
The CLM solution took contracts out of spreadsheets and into a unified, automated system, improving process visibility across departments, reducing manual tasks, and making contract management/renewal easier.
With Focal Point’s intake framework, the customer can use a single interface to submit requests, ensuring complete and accurate information upfront. Data orchestration improved visibility and alignment across departments.
Outcomes
With all intake requests routed through Focal Point’s portal, the company eliminated multiple submission channels, reducing manual tasks and improving visibility for stakeholders.
Simplified contract
management and
renewals
Improved
process
visibility
Reduction
in manual
workload
Improved
request
response
Takeaways
Focal Point’s implementation centralized existing intake processes, while moving teams away from manual tasks.
Centralizing intake processes reduced administrative burden and ensured business users followed consistent workflows, setting the foundation for ongoing process improvements.
Moving from manual, disparate systems like Excel to an integrated CLM solution organizes the tracking and management of contracts, leading to better operational outcomes.