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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.

Lyndsey Cain, Director of Legal Operations, The New York Times

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The New York Times (NYT), a global bastion of journalism for almost two centuries now, recognizes the importance of staying current not just in news but in its internal operations. When the Times’ legal team saw the need to update their technology they turned to Ironclad, paving the way for a more efficient and effective contract management process. Less than a year later, Ironclad’s contracting platform has revolutionized the Old Gray Lady’s approach to legal operations.

The Pre-Ironclad Era: Fragmentation and Inefficiency

The journey to digital transformation at the NYT began against a backdrop of fragmented and inefficient legal operations. The legal department was grappling with a disjointed approach to contract management. Contracts were dispersed across various departments, each with its own set of procedures and systems. The existing contract repository lacked vital features like self-service options and granular permissions. Locating and managing contracts was not only time-consuming but also prone to errors and delays, impeding the legal team’s ability to respond swiftly and effectively to the dynamic needs of the news organization. Relying on a decentralized system also posed risks for compliance and consistency, as contracts managed in isolation could lead to discrepancies and oversight.

Director of Legal Operations Lyndsey Cain set out to transform the way her organization handles contracting. She engaged internal stakeholders to identify pain points and gather qualitative feedback on the then-current process and came away with priorities:

  • Focus on improving efficiency and risk mitigation, with considerations for ROI and impact on sales velocity and operational costs.
  • Implement a repository first approach for contracts, emphasizing the balance between automating processes and building a repository.
  • Start small, prioritizing needs based on stakeholder feedback and adopting an intentional and iterative approach to the implementation process.

There was also another very important, very straightforward priority to address. “We heard time and time again that the number one thing that we’re trying to solve for was, We can’t find what we need to find,” Cain said. “We can’t find it and we can’t report on it. So we listened to the people that would be using the new system, and we heard them.”

Recognizing the need for a transformative solution, Cain and her team worked to secure stakeholder buy-in for an analysis of the CLM marketplace. Her team focused on the importance of demonstrating ROI and the potential impact on efficiency, headcount, and revenue. And Cain made no bones about the fact that digital transformation was vital to the future health of her team, and the New York Times organization as a whole. They got approval to run an analysis of contract lifecycle management solutions.

The search for a platform that could centralize, streamline, and optimize their contract processes led Cain to Ironclad. This marked the beginning of a transformative shift in the NYT’s legal operations, setting the stage for a journey towards digital efficiency and interdepartmental coherence.

A Turning Point in Contract Management

Intrigued by Irconlad’s potential to centralize and automate contract processes, the NYT team saw the platform as more than just a tool; it represented a possible paradigm shift in their legal operations. “Ironclad stood out for its ability to bring together all aspects of contract management in one integrated platform,” Cain remarked. The promise of a unified system that could handle everything from contract creation to execution and storage was compelling. Demonstrations highlighted Ironclad’s capabilities to streamline operations and enhance data safety, transforming initial resistance into endorsement.

Lyndsey and her team were particularly impressed by Ironclad’s one-two punch: A user-friendly interface atop powerful features to manage the entire contracting lifecycle. Tools like the Workflow Designer and Repository promised not only to streamline the team’s current processes, but also to provide scalability for future growth. Ironclad’s approach to CLM aligned with Cain and her team’s vision of a more efficient, data-driven legal department.

Customization, Collaboration, and a Culture of Innovation

Cain spearheaded the adoption initiative, collaborating with the Ironclad implementation team to ensure a smooth and effective transition. “Our goal was to make the system intuitive and tailored to our specific needs,” she explained. Working closely with both Ironclad and a boutique consultancy expert in implementations, the NYT customized the CLM platform to fit the way their legal team works.

The roll-out, which took roughly six months in total, addressed several pain points, including contract accessibility and turnaround times. Significant focus was also placed on customizing the platform to align with the NYT’s unique workflows, making Ironclad as intuitive as possible for all users. The centralized repository provided a single source of truth for all contracts, greatly enhancing visibility and control. Workflow automation reduced manual tasks, allowing the legal team to focus on more strategic aspects of their work.

As a result, the Times’ legal team not only wound up with a highly productive contract management system, but also a glimpse of their digital-first future. Adopting Ironclad sparked a renewed embrace of the culture of innovation within the Times, reflecting a commitment to digital advancement and operational excellence.

Overcoming Adoption Challenges: Training and Engagement

Transitioning to Ironclad represented a fundamental change from the NYT’s traditional methods. The shift was akin to moving from analog to digital, yielding immediate improvements in ease and effectiveness. A key focus of the implementation was on the stability and user-friendliness of the ecosystem.

Cain identified and prioritized key contract management pain points, effectively leveraging Ironclad Repository as the central source of truth for all contracts. This shift was not just about storing legal agreements; it was about empowering decision-makers within the organization​​ by making legal data organized, accessible, and actionable.

Training and adoption were critical components of the implementation strategy. The legal team, along with key stakeholders from other departments, were involved early in the process to familiarize themselves with the new system. Cain emphasized the importance of this inclusive approach, saying, “Getting everyone on board and comfortable with Ironclad was crucial for its success.” To ensure a successful transition, the legal team engaged in extensive upskilling, learning to utilize the comprehensive and customizable features of Ironclad’s Workflow Designer​​.

The Results Speak Volumes

The impact of Ironclad at The New York Times has been significant and multifaceted. Since implementation, there’s been a marked reduction in time spent on contract management, freeing Cain’s team to engage more deeply in strategic planning and other high-level activities.

This newly centralized, streamlined approach to contract management has also contributed to the overall agility of the NYT in responding to fast-evolving business needs​​. And it underscored Cain’s personal commitment to transforming one of the world’s leading journalistic organizations into a showcase for the power of thoughtfully designed and implemented legal ops technology.

Looking Ahead

The Times’ journey with Ironclad didn’t end with implementation. Cain’s legal operations team is poised to explore further advancements, focusing on expanding automation capabilities and delving deeper into data analytics. This ongoing commitment to digital transformation extends beyond maintaining the Times’ status as a world leader in the publishing industry; it encompasses the organization’s broader goal of achieving operational excellence​​.

The New York Times’ embrace of Ironclad Repository and the subsequent digital transformation signify a broader trend across industries. Their journey stands as an exemplar for enterprise legal teams embarking on a similar path. The Times’ story underscores the transformative power of digital integration, and their ongoing commitment to innovation and efficiency in the ever-evolving landscape of legal operations​​.

 

The NYT’s Tips on Beginning a Digital Transformation Journey

  • 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.