AI Case Study
Dell reduces costs while ensuring contractual obligations are met with contract analysis automation
Dell uses Axiom to extract clause details and other metadata from legacy systems of 35,000 sell-side contracts. This automation allows for quicker employee research into contractual obligations to inform senior management decision-making.
Industry
Technology
Technology Hardware And Equipment
Project Overview
"Axiom and Dell agreed to enter into a strategic five-year
partnership. Axiom would deliver legal and commercial data
capture, contract negotiation and management, and reporting
and analytics for all of Dell’s commercial sales contracts
globally. Two years into the program, Dell has fully implemented the contracts-as-a-service solution in EMEA, the Americas, and
Asia-Pacific, gaining visibility into both current data and more
than 20 years of historical data. Dell staff can use a self-service portal to search for contract data and generate detailed reports, drilling down to individual contract terms or building up to an enterprise look at its total contract positions. A back-end platform provides workflow, data models and analytics tools."
Reported Results
"Provides Dell with a superior customer experience by closing deals more quickly:
* Catalyzes Dell revenues by cross-selling related services to corporate clients
* Improves Dell’s deal-making capabilities by streamlining contracting processes and accelerating payback on acquisitions
* Strengthens Dell’s margins and risk management by proactively managing contractual rights and obligations
* Off ers Dell visibility into contract positions, with reporting on current data and historical data up to 20 years old
* Improves compliance, with enhanced reporting capabilities and better data quality
* Reduces costs by retiring aging IT systems and eliminating the need for contract management sta ff."
Technology
"Axiom’s contracts data analytics services is powered by IRIS, a
proprietary, cloud-based technology platform, and involves
the capture and translation of clause-level text contained in
contracts to structured data elements that drive reporting and
analytics in a flexible and powerful way."
Function
Finance
Accounting And Reporting
Background
"One of the world’s preeminent technology companies, Dell
manages millions of commercial sales contracts. For Scott
Bialek, Director of Global Contracts, transforming sell-side
contract management was an imperative. The company was
using a home-grown 20-year-old database that provided
rudimentary reporting for only U.S. contracts, and Bialek was
unable to get funding for a new platform. As a consequence, it
was extremely di cult for the team to satisfy senior management requests for enterprise contract data required for decision making."
Benefits
Data
"a global database with free text search on 285 metadata fields for more than 35,000 sell-side agreements globally"