Cisco legal services department and an online contract acceptance tool (Click Accept)

By early 2004, this tool, which enables online acceptance of terms and conditions, was in full swing. According to a press release, “Employing Click Accept for demonstration equipment loan agreements alone has freed up two full-time positions to take on other work and has reduced cycle time from 10 days to two. More than 80,000 transactions have been processed using this tool. Cisco has 10 types of contracts on Click Accept and a roadmap to implement an additional thirty-two. Conservative estimates place the number of annual transactions it can facilitate for Cisco at 6.5 million and the potential annual productivity benefits at a minimum of $10 million.”

Boggles my mind that two people were slaving full time on one kind of contract and that the savings from this software matches many law department’s total legal spend.

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