How Denison University Saved Time and Costs with AI-Powered CLM
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Denison University, a leading liberal arts college, faced a growing administrative challenge: managing thousands of contracts with outdated, manual processes. Staff spent countless hours fixing contract errors, tracking down signatures, and manually extracting key details—a time-consuming workflow that slowed operations and created compliance risks.
With over 4,000 contracts processed annually for vendors, staff, and guest lecturers, inefficiencies in contract management made it difficult to track agreements, ensure compliance, and manage financial planning effectively. By implementing Concord’s AI-powered contract lifecycle management (CLM) software, Denison cut admin time by 30%, reduced signing delays from days to minutes, and improved financial oversight.
The burden of manual contract management
Before adopting an AI-powered contract management software, Denison’s contract process was slow, inconsistent, and frustrating. Administrative staff frequently worked with outdated templates, requiring significant cleanup before contracts could be sent. These inefficiencies not only wasted time but also introduced errors and inconsistencies in contract terms.
Once agreements were finalized, signature collection became another major obstacle. Many external parties didn’t have access to scanners, leading to delays as they attempted to submit contracts through poor-quality photos or cumbersome PDF uploads.
“There were times where the other party didn’t have a scanner, so they’d be trying to take pictures of the agreement—which did not work well,” said Steve Storck, Purchasing Manager at Denison University.
Without a centralized system, tracking contract status was difficult, often requiring follow-ups and manual checks. This lack of visibility increased financial, compliance, and breach of contract risks, as administrators struggled to confirm whether agreements had been signed, executed, or renewed on time.
AI-powered CLM: From days to minutes
To streamline workflows and improve accuracy, Denison University turned to Concord’s Agreement Intelligence. The platform offered a fully digital and AI-driven solution that addressed the university’s biggest pain points:
- Integrated electronic signatures – replacing PDF-based workflows and eliminating the need for printing, scanning, and chasing down signatures.
- AI-powered data extraction – automatically pulling key contract terms such as renewal dates, payment terms, and termination clauses, even from scanned PDFs.
- A centralized contract repository – giving staff instant access to contract data for better compliance tracking and decision-making.
“The AI is really easy to use,” Storck said. “I just click the button, and it pulls all the key terms out of the contract.”
By eliminating manual data entry and tracking, Denison drastically reduced administrative workload while ensuring greater accuracy in contract records.
Real results: Less admin work, better financial control
Since implementing Concord, Denison University has seen tangible efficiency gains that have had a direct impact on its operations:
- 30% reduction in admin time spent correcting, organizing, and tracking contracts.
- Faster turnaround times, with contracts now signed in minutes instead of days.
- More effective financial oversight, as automated contract extraction provides clear, real-time insights into obligations and renewal deadlines.
- Improved vendor negotiations, thanks to better contract visibility, which has already led to cost savings.
Beyond efficiency gains, contract compliance and standardization have improved, ensuring that agreements align with institutional policies. The centralized system makes audits easier, reducing the risk of missed deadlines and lost agreements.
“Concord has all the functionality we need, and we’re still finding even more ways in which it’s useful,” Storck said.
With AI-powered contract management, Denison no longer wastes time on manual contract processing, outdated templates, and disorganized workflows. Instead, administrators can focus on higher-value initiatives—ensuring that the university’s resources are spent on students, faculty, and strategic goals, rather than paperwork.
