Case Study: How Open accelerated contract approvals by 90% with SpotDraft
Key results
The challenge
Open's legal team managed more than 1000 contracts annually across fragmented tools such as Gmail and Google Drive, with manual review for every agreement. The small team became a business bottleneck and struggled to track deadlines and manage stakeholder access.
The solution
Open adopted SpotDraft as a centralized contract repository with self-service generation, customizable dashboards, on-platform editing and multiple eSignature options. All existing contracts and their metadata were imported within two to three weeks of onboarding.
“SpotDraft is such an interactive platform and it's customizable to our unique needs. We learned its functionalities pretty quickly and the experience has been wonderful. We are impressed by its repository, and how contracts could be differentiated based on department, type and more.”
RBRishab BothraIn-House Counsel, Open
The results, in context
Open reported a 90% reduction in turnaround time for contract approvals and a 65% reduction in errors or discrepancies in contract terms. The platform was fully onboarded and implemented within two weeks, and legal due diligence during investment rounds became faster through instant contract filtering and sharing.