NetApp leverages TermScout to increase productivity & accelerate contract reviews.

Implementing the Contract AI Suite

NetApp was struggling with an escalating volume of IT contracts that needed reviewing. The conventional solutions were either to hire more staff, which was costly and time-consuming, or to find a way to speed up the contract review process through technology and better workflows.

TermScout provided a solution through its Verified™ Contract Review tool, part of the Contract AI Suite. Together, TermScout and NetApp created a custom contract playbook that allowed NetApp to focus their reviews on clauses that failed their risk criteria. This system eliminated the need to review or negotiate clauses that passed the risk assessment, instantly decreasing review times. As a result, only 20% of every contract needed a review, as the other 80% of the clauses had already passed the established risk criteria.

To further enhance their workflow, NetApp integrated TermScout’s API, enabling immediate routing of contracts to TermScout for review. Each contract was analyzed against over 750 quantitative data points, and review results were delivered in the form of an easy-to-understand report card. This process, with less than a 24-hour turnaround time and 99% accuracy, greatly increased NetApp's output and eliminated the need to hire additional staff.