How Vecna Robotics Simplified Contracting and Renewals With AI

For fast-moving companies like Vecna Robotics, staying ahead requires efficiency—not just in operations but in contract management as well. As a leader in material handling automation, Vecna Robotics recognized that its contract management processes were slowing things down. With agreements stored in scattered folders and tracked manually, the company faced unnecessary risks, wasted time, and missed opportunities for cost savings.

By implementing Concord’s Agreement Intelligence, Vecna Robotics automated contract tracking and renewal management, reducing compliance risks and cutting costs while freeing up valuable time for higher-priority work.

Manual contract management was a growing liability

Vecna Robotics’ approach to contract management relied on a mix of individual hard drives and shared folders, making it difficult to maintain visibility over key contract data. Every contract review required manual data entry, and keeping up with renewal dates was a constant challenge.

“We have had times where we had a lot of trouble keeping track of all of our contracts, all of our deadlines,” said Michael Bearman, chief legal and safety officer at Vecna Robotics.

The risks of this fragmented approach were clear:

• Missed deadlines — Without a centralized system, renewal dates could slip through the cracks, leading to unwanted auto-renewals or missed renegotiation windows.
• Inconsistent data — Manually tracking contract details led to errors, including incorrect dates, missing information, and costly mistakes in contract clauses for finance.
• Time-consuming processes — Routine contract management tasks pulled legal and finance teams away from more strategic work.

AI eliminated tedious work and improved accuracy

To regain control over its contract lifecycle, Vecna Robotics turned to Concord’s AI contract management software. The shift was immediate: contract data that once required manual input was now extracted automatically.

“I used to have to spend lots of time on this, but now I just hit ‘create document’ because the AI does a great job automatically,” Bearman explained.

Key improvements included:

• Automated data extraction — AI captures critical contract details like parties, key dates, and terms without human input.
• Error-free records — Eliminating manual data entry prevents costly mistakes like transposed numbers or overlooked deadlines.
• Proactive renewal management — The system alerts teams to upcoming expirations, giving them time to renegotiate terms, consolidate vendors, or explore better options.

Saving time and money with smarter contract management

With AI handling contract administration, Vecna Robotics’ legal and finance teams have reclaimed valuable hours each week—time they now spend on strategic initiatives instead of chasing down documents.

“The AI helps me track the lifecycle information. So I’ve been able to rely on it,” Bearman said.

The impact has been significant:

• 10+ hours saved per week — Automating contract tracking has reduced the administrative burden on Vecna’s team.
• Lower renewal costs — Better oversight of contract terms has helped the company avoid unexpected price increases and secure better deals.
• Stronger financial planning — Reliable contract data enables more accurate forecasting and budgeting.

“Concord has made the whole process simpler—and saved us money, too,” Bearman concluded.

For companies struggling with manual contract management, Vecna Robotics’ success story highlights the value of cloud-based contract management software with AI-powered automation. By replacing outdated processes with automation, businesses can reduce risk, increase efficiency, and focus on what matters most—growth and innovation.