DemystData talks to Concord about how a single source of truth is helping them manage workflow and increase efficiency.
DemystData is an organization that helps leading financial institutions harness the power of data to make smarter decisions and increase customer and economic opportunities. Founded in 2010, DemystData interacts with many data providers, making contract management an essential part of their business. Concord sat down with DemystData’s VP of Legal and Compliance, Barbara Bridges, to find out why they chose Concord.
Life Before Concord
Given that DemystData works with a large number of data providers, they were in a unique position of needing constant negotiation with many different people involved. Internal and external parties are involved in discussions, so giving access to the people who needed it was sometimes difficult. Using multiple tools to manage the process wasn’t always simple, and if products weren’t properly synced, it created a roadblock for the entire workflow. Organization was a challenge, in addition to getting the right documents approved in a timely manner as the team traveled or worked from various locations. DemystData decided it was time to get everything organized into one single source of truth.
Workflow, Scalability, and Robust Features
Within three weeks of implementing Concord, DemystData began to see results such as faster time-to-signature and higher operational efficiency. Across the organization, teams were able to work faster while maintaining a high level of compliance.“In an ideal world, if I were to create something to handle contract management, it would be Concord.” - Barbara Bridges, VP of Legal & Compliance Click To Tweet
An essential element of the right contract management platform was finding a tool that would scale alongside the company. As DemystData continues to grow, they were confident that Concord’s platform will scale alongside them and continue to increase efficiency and provide value to the business. Implementation was a simple process that had the team feeling comfortable using the system within a few weeks. Rolling it out to the entire company was not a concern for DemystData as they found the platform to be familiar and intuitive.“We looked at quite a few systems, but found that Concord was the most user-friendly and the easiest to use.” - Barbara Bridges, VP of Legal & Compliance Click To Tweet
DemystData chose Concord because of the simple, accessible design that was so simple to use. Concord had an impressive amount of features necessary for DemystData to effectively manage contracts efficiently. For organization, tagging, real-time processing, and much more, Concord was the only solution that had everything DemystData needed.“The problems Concord solved for us through these impressive functionalities set the product apart from others, and we’ve found this to continue to be true the more we use the system.” - Barbara Bridges, VP of Legal & Compliance Click To Tweet