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Get with the Times: How the NYT Centralized Contract Data with Ironclad Repository
Recently The New York Times’ Director of Legal Operations Lyndsey Cain joined Ironclad’s Chief Community Officer Mary O'Carroll for a conversation about how the 171-year old organization is modernizing its business processes with Ironclad.
Change management doesn't have to be scary. We focused on starting small, getting some wins, and iterating.
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Key takeaways
Here are some learnings from their conversation:
- Assess the current state of your contracts records to identify the ROT (repetitive, obsolete, and trivial). Determine what record types are business critical, what data is important to stakeholders, and evaluate your retention policy.
- When trying to find a new tech solution, hone in on the problem statement. Rather than immediately asking for requirements, listen to your stakeholders and hear what’s going well, what could be better, and where their pain points are.
- Prioritize the implementation of software features by the needs of the business. With Ironclad Repository, The New York Times now has a single source of truth for active commercial contracts that’s fully text searchable. The Legal team can now quickly find contracts, or run and save reports like monthly notices for various business units.
- Consider a signed contracts workflow concurrent to launching Ironclad Repository. This allowed The New York Times to fast track signed contracts into Ironclad — fully executed — directly into Repository so Legal wouldn’t have to manually upload them.
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Ironclad is not a law firm, and this post does not constitute or contain legal advice. To evaluate the accuracy, sufficiency, or reliability of the ideas and guidance reflected here, or the applicability of these materials to your business, you should consult with a licensed attorney. Use of and access to any of the resources contained within Ironclad’s site do not create an attorney-client relationship between the user and Ironclad.
