Case Study: An optical retailer cuts supplier-contract signing from about a month to three minutes with Concord
Key results
The challenge
The company's procurement manager, Stephane Lesourd, was working with 100 primary supplier agreements. The antiquated signing process often took a month to complete, and delays were a concern because missing the strict deadline involved a costly penalty. Both parties also needed appropriate access to the executed documents.
The solution
The retailer adopted Concord's e-signature and contract management platform, selected for its ease of use, automatic audit trails, regulatory compliance, security features, and in-country data storage options.
“Signatures are returned instantaneously, like we were around the same table to sign. It is unbelievable.”
SLStephane LesourdProcurement Manager
The results, in context
On average it now takes about three minutes to get a contract signed, instead of a month. Every action is captured in a real-time audit trail, and fines over missed deadlines for annual supplier contracts are no longer a concern.