Gatekeeper Webinar Series: Save 7.5 hours per week with Gatekeeper

Gatekeeper Webinar Series: Save 7.5 hours per week with Gatekeeper

Transcript | 15 October 2020

Rachel Gray: Again, good morning, good afternoon, good evening. Thank you everyone for joining the webinar today. My name is Rachel, I'm an Account Executive here at Gatekeeper and together with my colleague James, we're going to be taking you through a few ways to save yourself time by using Gatekeeper.

Just one piece of housekeeping before we get started on your screen, you should be able to see an access a Q&A function

As we go through the webinar today. If you do have questions, please feel free to submit those questions via that window, and we're going to aim to answer as many as we can really at the end of the webinar today.

While we are going to answer as many as we can, answers to all of the questions that are posted will be shared, along with the recording of this session in the next day or so. So if we don't get to your question, please do not panic, we will always make sure that that's answered.

So let's get into it.

Managing time effectively and increasing productivity has been a hot topic for decades. The internet is filled with articles, videos and podcasts on how to give yourself more time in your day.

Everybody wants to save time and recently. This has become increasingly important for legal teams and other teams that are responsible for managing contracts.

So why is that?

At Gatekeeper. We find that legal and contract teams are often some of the smallest groups in an organization with just one or a few individuals making up an entire department.

Having said that, these teams have frequently been responsible for some of the largest and most dynamic data sets and activities and they own the majority of the workload around contract management.

Since the COVID 19 pandemic struck globally earlier this year legal teams have been asked to do much more work with the same or even less resource available and they're finding that they're running out of time to focus on what's most important.

So where does the time go?

Most teams are scrambling to get a handle on disparate data spending most of their time in their inbox to deal with new requests or requests for feedback and they're jumping between softwares and solutions, just to execute a simple agreement.

What we see here before Gatekeeper is that the typical process for a new contract to be reviewed and signed can sometimes involve multiple solutions, making it impossible to avoid bottlenecks and removing any visibility into the overall progress.

So what's the solution to this? What's the alternative?

The solution is right here. It's bringing all data and processes into one single source of truth, creating a master system of record for all of your contracts and their relevant data and also streamlining those internal processes to give visibility, create audit trails and ensure compliance.

Now you're probably wondering, and probably the number one question on some people's minds is, where did we get that number 7.5? Why are we telling you that you're going to save 7.5 hours a week?

It's a good question. So here you're going to see a direct quote from one of our customers, noting that before Gatekeeper, they had to set aside four hours a week for two people simply to track key dates, that's eight hours a week that Gatekeeper managed to cut down to around 30 minutes.

So a tool like Gatekeeper isn't just for making your life easier, it's giving you time back in your day to commit to what's most important to you, whether that's work, family, or even just getting a good night's sleep.

So speaking of how we're going to save you 7.5 hours a week, here's what we're going to cover today.

First of all, we're going to look at building a comprehensive searchable contract repository, with the help of artificial intelligence.

We're then going to look at streamlining company processes with authenticated requests, automated approvals and seamless execution.

And finally, we're going to give you an overview of how you can utilize dashboards to give universal visibility at the click of a button.

I'm going to kick this off before handing over to James to show you how Gatekeeper helps you build a comprehensive contract repository that's clean and easily searchable.

One of the many issues we hear from customers before using Gatekeeper is that contracts are everywhere and nowhere all at once.

We see documents and files stored in desk drawers and share drives, Excel sheets being used to capture values and calendar reminders set for end dates.

Situations like this, give little to no visibility across the organization with teams scrambling to manage renewals and spending hours searching through contracts for their obligations.

Using Gatekeeper, we can create a contract repository that looks like this.

This is a completely searchable list of contracts and the data that's presented is configurable, but also exportable.

Within each of these links here is a fully decorated contract record designed to highlight every important piece of information about a contract and place it right at your fingertips.

We can see a full contract summary, the owners of the contract, both internally and externally. And we can even create contract relationships.

We can also store the contract document here against the files tab.

Files can be uploaded here with a simple drag and drop.

And once the file is added into Gatekeeper. It can now be previewed and it is completely searchable, meaning that you don't have to spend hours reading through an agreement to find what it is that you're looking for.

Another one of the key ways that we can build a contract repository is through the use of our AI Extract. This leverages OCR technology to turn a simple PDF contract into that fully decorated contract record.

Once we've uploaded a PDF. We are prompted to create the contract record.

When we click this link, it's going to give us a view of the document itself, as well as a view of the extracted data and the expected contract record.

For those of us who have documents in drawers or share drives this completely negates the need to read through these documents to find all of this key data.

Once we click Create Contract we are directed straight through to that full contract record.

Against this record. We've also stored the file and indicated that it's the master. So we're now given a full preview of it right against that data tab.

So now that we have our contract repository. How can we continue to populate it through automating internal approvals and streamlining execution?

For this we're going to hand over to James.

James Ince: Thanks, Rachel.

What we're going to look at now is a live walkthrough of a single workflow which encapsulates several Gatekeeper features into a process that hopefully resonates with a few of the key functions, your procurement or legal teams might undertake when getting contracts in place.

So for those of you haven't seen this aspect of Gatekeeper before our workflow engine is based on the Kanban methodology.

Where contract requests would be represented as cards on this board beginning on the left and moving through the board as they progress through the process, giving you that visual representation of work in motion.

This is the workflow we're going to use it to demonstrate, for example, today is one I created earlier and the first aspect we're going to deal with on this is real workflow regarding time saves and the initiation process.

So many of our clients have quite complex contract approval and setup processes and for regular relationship managers and employees, even the steps to begin this process can be overwhelming.

They might need to download a series of forms to fill out, spreadsheets etc and email these different teams or execs and the supporting materials they need to provide could vary depending on the type of the contract or the value of the request.

Even with a SOP (Standard Operating Procedure) or documented instructions in place this sort of task can be quite daunting for a regular employee with lots of room for error, lots of backtracking and potential duplicated efforts. So to help with this, we've enabled a dashboard and Gatekeeper which comes as part of our Employee Portal module.

Using this dashboard any Gatekeeper user can simply log on, find the form they wish to start and kick off a request.

The request form itself will be pre configured, which will include both dynamic form sections and the results and approvals and I'll go into how each specific aspect here can be a huge help.

So what you'll see in the form here, it'll start out with some standard request information.

But as various options are checked, the form will dynamically reload prompting the user to fill out tailored fields.

So this means that your users won't be given a one size fits all behemoth of a request form the information they need to provide is trimmed to their specific requirements.

So for instance, this user might be requesting a subscription type agreement and the form will reload asking them for some more specific details on what they're requesting.

Similar to this using inbuilt logic we can take away. That worry of where form needs to go or who needs to be notified.

To show you under the hood on the config area of this workflow without getting too technical. Hopefully you can see that we've pre configured a set of rules to move the card to particular points in our workflow.

So in our setup here you can see the first two conditional transitions will direct the request differently depending on the annual value with those higher value contracts, going to the department manager for budget assessment and sign offs.

Annual value is just an example of a condition you can get as granular as is needed for your processes and logic. At this stage, this is just to demonstrate the functionality that's on offer.

And it's worth also mentioning, none of your end users will see these rules. We're just here to show you the predefined config, which will make these transitions, on behalf of your users.

This means, again, that your users don't need to remember a series of instructions or email addresses Gatekeeper will handle all that logic and dynamically notify who you've decided in advance.

The time saved here is pretty great, not just for your legal and procurement teams who no longer have to hand hold or and pick up people's mistakes, but for everyday employees who no longer need to waste time on computing admin, which hopefully should free them up to do their jobs.

If we take an average, teams incoming requests to say 10 to 15 per week, you've already got at least a few hours where Gatekeeper has ensured that all the required information is prepared and provided in advance of an incoming request. So the team can dive straight into their checks and procedures, which is how it should be really.

Moving on, another key aspect of contract creation is the creation of the contract document itself. So here what we're going to look at is our contract template feature.

Particularly for those legal departments who deal with a lot of incoming requests. And who wants to ensure their contracts are held to the same standards Gatekeeper can step in and take away the admin headaches.

What we have configured in this Gatekeeper environment or a series of contract templates which can be integrated with a workflow and used to create your draft documents.

You'll see here a request form has reached the stage where it's ready to be turned into a contract record.

And with the click of a button, a member of the legal team can take this data that's been entered by previous users and have it dynamically pulled into a contract document.

Using this means no more manually transferring of data from request forms in the form of documents, no more hunting around for recently created drafts to copy and edit.

And once you've performed this action. You can then check which fields from your request form Gatekeeper has taken and merged into the contract draft which is super useful.

The scope of how you apply this as well, can be quite fast. So we have some clients using this for simple documents like NDAs, with a few basic fields like company name, address, key dates saving you know around 10 to 15 minutes per document in fiddly admin.

Whereas we have others pulling through dynamic clauses, complex prices conditions comments and that sort of thing.

For my most recent client who set this up, not only to enable them to actually get a reliable and repeatable process in place. It saved them around 15 to 20 minutes per request that came through.

And as with a lot of Gatekeeper clients. This may start by saving an hour or so per week, but the scalability means that the benefits will always be there, ensuring any growth your experiences of business doesn't necessarily mean tons of paperwork and admin will follow.

So next, after a contract draft is generated and has gone through our negotiations, we were basically one step away from completion.

And the final step in setting up a contract for many organizations will be to collect signatures and then you'll be good to wrap this process.

Following on from the other steps here Gatekeeper allows for a seamless transition from contract setup to contract signing in the same workflow.

Now, you may have seen our dedicated assignment webinar. Earlier this year, or you might have some experience with this in Gatekeeper already, but to just recap some of the points.

You know the workflow here. There's no need to download a PDF. There's no need to print anything off or drop it off anywhere or, you know, God forbid, post it to someone.

At this next phase in our process, but all the member of the legal team has to do is they'll be prompted to select to finalize contract PDF to sign.

Noting was in the repository or stored for later viewing. Then they come into this sign view and they'll initiate signature. So this will involve choosing the dedicated signatories and placing their signatures and details on the document where needed.

And when they've done that they would just hit request.

After this, Gatekeeper's workflow will again handle the rest. Once a user hits request emails with eSignature links will be sent to the various signatories, and the admin from the legal team will be updated as and when users have signed.

Once all users have signed the document Gatekeeper can then automatically move this request over to our final phase where we mark it as done and send that confirmation back to the initial requester.

Now, putting an official time-save on a seamless eSign integration is quite hard.

Personally I've dealt with some clients, where this might save an hour or two. Since admins don't have to go around chasing users dealing with multiple emails or physical documents.

Whereas I have others who are especially true to current working conditions and lockdowns they've saved days if not weeks.

Documents can be initiated now and sent out to all users immediately. They don't have to wait for certain people to be in the office at the same time to have access to the same files, all your users need for this is internet access and Gatekeeper can be leveraged to connect the dots.

Now these were obviously a way to use some of the advanced functionality and Gatekeeper to help simplify your processes, but you may have some users who don't want to get too stuck into these sort of things.

For a few types of people such as execs or department heads, whose time is very constrained responding to each and every contract approval straight away is simply not feasible.

This is not uncommon at all for many of our clients, they may have authorizers who like to time block an hour or so per week to review all incoming requests and address them all at once.

Rather than operating like regular users who will navigate through automated notification emails, these approvals and authorizations can head to what we call my dashboard.

In our example here, Mike, the manager can come login to Gatekeeper and begin reviewing and approving all his requests from one location.

Having this option available can save these users that need to constantly drop what they're doing to address new requests or similarly you can save them from sifting through emails to check for any that might have slipped through the cracks.

And if you attended our last webinar on proactively managing your contract renewals you'll be aware that this is just one of the uses for our various dashboard views when it comes to workflows.

There are others involving better oversight and accountability, easier identification of bottlenecks and unexpected delays and as always, they can be used by your more proactive users too fussy, where they have upcoming deadlines to address.

For an approval process with 20 requests per week, you could go from having cumulative admin and distractions of up to a few hours, all done and signed off in less than 30 minutes using this sort of Dashboard view.

So I hope these examples and scenarios resonated with a few of you and the processes you or your colleagues currently struggle with, and that they gave you a glimpse into how you can make use of Gatekeeper to ease the burden, a little bit.

And now pass back to Rachel just do a wrap up there.

RG: Thank you, James. That was brilliant. So just to recap what we've covered over the last 25 minutes on the call.

Really looking at, first of all, building that comprehensive searchable contract repository, bringing all of your contracts and their relevant data into one single source of truth.

Making that really easily searchable, but making it visible across the organization as well to whoever needs to have access to that information.

Then James took us through a few things really streamlining company processes in taking authenticated requests.

Conditional approvals so that things aren't being passed back and forth between people that really have no relevance to the situation.

And then seamlessly executing documents, all within one workflow giving you visibility into where things might be getting stuck where things are processing faster and giving the employees access to see where their requests are at in terms of an internal process.

And then finally, internally, how can people utilize dashboards to see exactly what's going on across the organization.

How can someone that's really, really busy come into Gatekeeper and with a click of a button, be able to see what's pending their approval approve that really, really quickly and keep everything within the organization flowing easily and seamlessly.

As we've been going through there have been quite a few questions that have been flowing in. So I thank you guys so much for sending in your questions.

James and I are going to handle a few of these on the call. And obviously, anything that we don't get to today, we will be answering via email.

So I'll kick this off one of the first questions that came in here was other functionalities and features being presented out of the box.

So great question the features that we've looked through today. It's a mixture of both. So the repository, then sign our workflow engine. Our AI extracts all of those dashboards, they're all part of the core solution. All of those features are available, out of the box and completely unlimited.

The only thing that we saw that is not out of the box that is an add on module is our Employee Portal.

So if you are a Gatekeeper customer and you've seen the employee portal and you think it would bring value to your business, please get in contact with your customer success manager or one of us.

Account executives and we'll be able to help you out and do a deeper dive into the portal for you.

JI: I'll take the next one, Rachel. So we've had a question come through asking us to describe Gatekeeper's API support and how it works with popular out of the box data integrations. So this is quite a broad question. And we do have full documentation on the API. The API is available with Gatekeeper and you can get that via your portal or from your customer success manager if you're a Gatekeeper client.

If you're not a Gatekeeper customer already that can be provided to you on request if you reach out to one of our account executives.

But regards to out of the box. Our most recent dedicated integration is with NetSuite which we launched in September. So again, you can reach out regarding this if that interests you specifically.

RG: Perfect. So the next question that came in here. When a contract is fully signed through eSign. Does the supplier automatically receive a copy of the signed document?

Again, excellent question. The answer is yes. Anyone that signs the document will receive a copy of the completely executed agreement over email.

We can accommodate multiple signers on all of our documents that you pass through Gatekeeper's eSign. So it's not just one person that's going to receive it. Anybody engaged in that process will receive the fully executed document via email.

Further to that, the signed document will also be stored against the contract record automatically.

The next one that's come through is actually, we've got a simple one here and it's about emailing the presentation. So I guess just for notes for everyone attending. We will be sending out a recording of this webinar in the next day or so. And if you'd like a copy of these slides as well please reach out to your contacted Gatekeeper and we can arrange that too. Absolutely.

RG: And then I think we're bang on half past, but maybe we can just do one more question that I have here, which is: Will Gatekeeper work for employment contracts, supplier contracts and our customer contracts.

So that's a really good question. It's a question that we do see quite a lot. And the answer is yes Gatekeeper will work for all kinds of contracts.

There's a few unique features within Gatekeeper that will actually allow you to distinguish that as well. So making use of things like contract type teams within Gatekeeper. But as well. The type of supplier indicating whether that is a supplier that is a vendor of yours, whether that is a customer or whether that is internal.

We do also have quite granular permissions available within Gatekeeper understandably employment contracts may not be for everyone's eyes so through very intense positioning, we can ensure that people only have access to what they're authorized to see.

There are quite a few more questions here. To be honest, but I know that we're at right on half past the hour, maybe a minute over.

So what we're going to do is ensure that all of these questions we have will be answered. So when we share the recording with you via email. We're also going to share the answers to all of the questions both the ones that were answered here today and the ones that we didn't quite get to.

So I do want to say again, thank you so much everyone for joining the webinar today. We appreciate you taking time out of your day.

Hopefully invested time here is going to save you time further down the line. If you have outstanding questions. If you would like to explore Gatekeeper further, please feel free to reach out, you can reach out to our Account Executives or even reach out to your Customer Success Manager.

So again, thank you everyone wherever you are in the world. Please enjoy the rest of your Wednesday.