Coca-Cola HBC, one of the world’s largest bottlers of the world’s most famous soft drink, selects Lexis Bespoke to help them draft contracts in a fraction of the time – while reducing their risk.
LexisNexis UK, a leading provider of content and technology solutions, today announced Coca-Cola Hellenic Bottling Company (Coca-Cola HBC), one of the world’s largest bottlers of the world’s most famous soft drink, Coca-Cola, has selected Lexis Bespoke to help them speed up drafting contracts and reduce the time their legal team needs to spend on review.
Lexis Bespoke is a unique end-to-end fully managed service which allows users to develop and deploy document automation at a fraction of the cost and time of traditional solutions. It is a new approach to automation, removing the need to invest in software licensing so users only pay for what they use. Firms can leverage the experience of the Lexis Bespoke team of automation experts to fast-track the delivery of automation systems alongside the development of their automation strategy.
Coca-Cola HBC is now able to able to draft some documents in 15 minutes, rather than ten hours. They have created a system that removes some of the inherent risks, while making it easier for them to produce up-to-date, legally sound contracts on their own, with minimal oversight.
“It’s saving us a bucket load of time! We conservatively estimate that from September to December, the Procurement team alone saved at least 210 man hours”, commented Becky Jones, CCHBC’s Legal Director, Company Secretary and Ethics and Compliance Officer for the Island of Ireland (IOI). “They clearly understood the challenges we faced. Their experience and knowledge meant they were extremely helpful, guiding us through the process and giving us really practical tips on the best ways to achieve what we wanted. Contracts are no longer run past legal “just in case”. Procurement has the confidence that they can quickly produce an up-to-date contract that’s appropriate for their situation.”
The Procurement team at Coca-Cola HBC now has the time to focus on the key aspects of their role – building relationships with suppliers, focusing on the commercial aspects of the contract, like service levels and KPIs. They were recently nominated for a Coca-Cola HBC Group Innovation Award, and made the final list – something no other legal team in the history of Coca-Cola HBC has ever achieved before.
Nigel Rea, Director of Precedents, Drafting and Forms at LexisNexis commented, “We’re delighted to have helped bring Document Automation to life for Coca Cola HBC. The project is a perfect example of how legal teams can use automation to create powerful self-service portals based on business logic to help reduce risk and improve efficiency”.
Read the case study at www.lexisnexis.co.uk/Coca-colaBespoke.