Digitizing contracting, amplifying value
Accenture’s Manage myDeal improves the legal experience and unlocks the value of contract data
Accenture’s cloud-first, platform-powered strategy is driving innovation across the enterprise, including in our own global IT and Legal functions. The teams are partnering to digitize contracts and unlock the value of contract data that can ultimately help reduce risk and improve the contracting experience.
As a global professional services business, Accenture has a Legal team of more than 2,800 professionals in 46 countries who negotiate and execute thousands of highly customized, multi-lingual legal documents every month.
Accenture looked for a modern contracting platform—centralized, industrialized, enabled—to drive Legal’s transformation from a transactional function to a data-driven partner providing valued guidance and better service. At the heart of this transformation is experience—how the Legal team works with each other and client account teams and whether the contract request process is efficient and seamless.
So, we set out to combine the ingenuity of our people with the potential of technology to transform the entire contracting experience with new capabilities, data analytics and integration with key systems. Ultimately, we wanted to empower Accenture Legal and Sales teams to work more effectively and reach shared deal goals.
Accenture selected a cloud-based, software-as-a-service contract management solution. The platform addressed Accenture’s requirements for a contracting tool with the potential to operate at enterprise scale. Accenture Legal worked with our global IT organization and the platform partner to configure the platform for an initial release. Beyond basics like automated routing, search and reporting, the tool’s release also delivered other critical features, such as an automated electronic signature, a clause library and guided contracting AI, the ability to create contract families, and integration with other key sales and contract systems. The new solution was named Manage myDeal—where all contract management, digitization and approvals live online.
Stakeholders from Legal, client account teams, IT, and the contract platform partner participated in extensive workshops to define initial functionality and scope, which was ambitious and complex. The project team defined requirements for the end-to-end contracting process—from contracting requests, draftings and reviews to final signature, execution and applied intelligence across the portfolio. These requirements were then expanded to address 15 contract types, which also required defining a data model for the digitized contracts in 15 variations. Future releases of the tool are just as ambitious and will cover procurement contracts and the management of additional legal matters, such as mergers and acquisitions, and anti-money laundering due diligence.
With the help of global IT and our contract platform partner, now all of Accenture’s contracts are being digitized and moved to a central platform that optimizes workflow and promotes transparency. For example, users can enter data, including contract deliverables, and share information widely. Manage myDeal has been designed to support accounts of all sizes across our global business. In particular, its unprecedented contract visibility is especially valuable in handling Accenture’s largest, most complex client relationships, which span geographies, jurisdictions and teams. A contract and its underlying data are routed automatically through reviews, changes and approvals, allowing client account, Legal teams and other stakeholders to work seamlessly and see clearly where each contract stands in the sales process, who is working on it and when it is finalized.
Perhaps most importantly, Manage myDeal is not a stand-alone solution—it’s the legal front door to a larger ecosystem created by IT that connects other key digital platforms, including Accenture customer relationship management tool Manage mySales and legal contract delivery solution Manage myContract. Manage myDeal’s integration with Manage mySales connects critical contract and sales data and provides a clear path for legal support (accessible by all client teams, regardless of account size or importance) as contracts are created. Beyond sales, the ecosystem extends to tools like the award-winning Accenture Legal Intelligent Contract Exploration tool (ALICE), which uses natural language processing and machine learning to generate critical search capability across more than a million contracts in 12 languages.
Manage myDeal empowers Accenture to connect the dots across Sales and Legal to drive better performance globally. For the Legal team, Manage myDeal streamlines the contract workflow across the entire organization and standardizes and simplifies contract tasks. For example, lawyers can insert the latest precedent language into a contract with one click or easily create client-specific templates—all of which shortens turnaround on high-volume contracts.
For Sales teams, the solution provides a single view of information across clients and contracts, in addition to creating clear hand-offs and status updates between Sales and Legal teams. Sales leaders can easily create a dashboard of projects by geographies or countries and capture such contract vitals as expiring contracts. Additionally, they can view entire contract families—including master service agreements, statements of work, change orders, and more—so the context of every contract is fully understood.
Yet, way beyond this core functionality, Manage myDeal is a transformational solution with built-in advanced analytics that yields powerful insights on the performance of Accenture’s entire contract portfolio. Dashboards track metrics such as how long it is taking to close deals by market, so teams can identify areas for troubleshooting and improvement and ultimately improve outcomes for the business. As an example, we can identify how many contracts have exclusivity language that can affect business competition.
In the future, Manage myDeal will also provide predictive analytics for even deeper insights such as flagging regulatory issues before a contract is signed, identifying contract trends that lead to low profitability or ways to improve contract revisions that make Accenture more competitive at winning deals.
Manage myDeal has enjoyed early success in its initial rollout and continues to generate excitement as more teams across Accenture engage with this transformational tool—a prominent and promising start of a journey to deliver on the value of technology and human ingenuity.
"This depth of insight is game-changing— Accenture has a 360-degree view of a client relationship that delivers value to Accenture and its clients."
Supports hundreds of thousands of contracts in a centralized system
More than 55,000 contracts and 900+ templates have been onboarded in the system within the first six months of rollout
Data is captured once and shared across more than four different legal and sales systems
Ability to apply analytics to the data captured and unlock value in legal data
Simplification and standardization reduces workload, freeing Legal teams to spend time on more advisory vs. administrative work
Helps to anticipate and reduce risk and address contractual protection, improve contract delivery and support predictive compliance
Reduces time to deal-close and improves team collaboration and contracting transparency