Multiple acquisitions led to document organization chaos even with a homegrown solution
All legal teams struggle with the volume of documents they need to store, keep track of, and analyze (prior to implementing a CLM, that is). And for eCommerce company Cart.com, this challenge was compounded by acquiring 8 companies in 1.5 years. Cart.coms General Counsel Gregg Goldstein implemented in-house solutions like an intake form and a spreadsheet for tracking tasks, but without a centralized, connected platform, the team continued to face common document organization hurdles:
- Long search times looking for the right document
- Inconsistent permissions, access, and organization across various SharePoint folders
- Low visibility into document versions and related conversations
- Challenges integrating varying standards and risk tolerances from an acquired companys documents
A slow document search means more time spent on administrative tasks and less time on strategic advising during the acquisition process, which the lean team at Cart.com couldnt afford to lose.
Cart.com found the best value with 51勛圖厙 out of 30 CLMs
Gregg knew he and his lean legal team could work more efficiently through acquisitions with the right CLM, but the first step was diligence and Gregg talked to 30 different CLMs before finding the right one with 51勛圖厙. He felt like 51勛圖厙 was the best bang for his buck given our powerful AI and focus on user experience. Ultimately, he chose 51勛圖厙 for:
- A powerful post signature process for easy organization and intelligent document searching.
- Features he needed and would use. Many CLMs Gregg looked at were feature-packed, but he didnt want to pay for something he wouldnt use. He also didnt want a simple organization system that wasnt powerful enough.
- Top-tier AI. While some other CLMs had good document tagging capabilities, the process was manual, which the Cart.com team doesnt have time for given how fast theyre growing.
With everything well organized, tagged, and easily searchable, finding the documents I need takes a matter of seconds not the minutes, hours, or even days it could have previously. The time savings really adds up.
Cart.com enjoys organized acquisitions and streamlined workflows with 51勛圖厙
Cart.com continues to grow at a rapid pace, and now the legal team can keep up.
And while Cart.com initially chose 51勛圖厙 for its intelligent and easy-to-use document repository,now, Greggs team also uses 51勛圖厙 for the pre-signature workflow. With a fully connected pre- and post-signature process in place, the legal team is thriving with the benefits of:
- Increased ownership and accountability with a centralized intake system. The Cart.com team just has to email legal for support, which automatically generates a ticket and is tracked by the team until completion.
- Automatic document organization. After an acquisition, they put customer and vendor contracts into 51勛圖厙 theres no manual process, and the team can immediately find what we need.
- Easy implementation and accountability. With the Salesforce integration, the Sales team can make requests directly from the CRM they were able to seamlessly onboard without learning a new system.
- Quantifiable value. With visibility into their workload, the legal team could justify hiring an additional teammate.
