Each week this month we’re celebrating our customers who are transforming their business processes to drive organizational change—beginning with one of the leading online retail companies, thredUP.
thredUP is an online secondhand clothing retailer that is leading the sustainability initiative in the apparel industry. Alon Rotem, their General Counsel, talked to Concord about what business processes looked like before using Concord, a contract management platform, and the benefits and results thredUP has seen after implementation.
Before Concord, contracts were stored on individual desktops, filed into folders. Keeping track of contracts that were expiring or renewing was challenging and time-consuming, and finding any document quickly was difficult.
“Without software to manage contracts, it’s really hard to find any contract that you need at any given moment.”
Legal processes were time-consuming. It was time to make a change.
From Implementation to Transformation
Implementing Concord was a quick and easy process for thredUP, in large part because of the intuitive nature of the platform. With its clean, simple design, Rotem said it feels similar to the tools he already uses on a day-to-day basis.
“Having a solution that helps you organize all of your contracts and know when they’re expiring, when they’re renewing is a best practice I would hope that every business could have.”
Now that Concord has been implemented across the organization, the awareness around creating contracts has increased. All documents across teams are now being created, negotiated, and approved through a streamlined process and in one location. Compliance is more regulated and the legal team has better visibility into the documents and agreements throughout the entire company. Having a single source of truth, one place where all contracts are located, makes finding and completing documents much easier than before. The connection and collaboration throughout the business has made the legal team’s job much easier and given the rest of the company autonomy to create documents while still sending them through the correct approval processes. Compliance, awareness, and risk mitigation should be standards across the legal industry, something that Rotem highlighted Concord has done for thredUP. Having a contract management platform has increased thredUP’s ability to create partnerships faster and more effectively while continuing to innovate and help people work towards sustainability. When asked who he would recommend Concord to, Rotem’s response:
“I would recommend Concord to basically any business that has contracts.”
How are you managing your contracts and contract processes? If it’s not with a platform that helps you automate, streamline, and simplify those processes, and manage every document, at every stage, all in one place, we should talk.