Coin is an Italian department store dedicated to the world of clothing, beauty and home decoration and has established itself as the benchmark for urban shopping.
Coin is present throughout the country in the most important city centres and on the main shopping streets.
In recent years Coin has undertaken an intense relaunch plan that has seen the birth of a reality capable of giving customers back the pleasure of shopping: captivating environments, easy to use and personalised moods that characterise the different worlds.
Know more about COIN ➡️
🏅 Key improvements
Environmental impact:
Reduction of printed paper by 80%.
Speed of contract drafting:
5 minutes less than a standard contract.
10 minutes less for a contract to be fully completed.
Reduced margin of error:
The margin of error has been reduced by 60%.
The logical tree structure of the CLM allows the sales department to choose from pre-set alternatives.
Increased process speed:
Sales, Legal, and signatories within COIN can interact within a single platform, thus avoiding the 'Jump-in' and 'Jump-out' of multiple solutions.
🏃🏻The Challenge
Automating complex documents is a big challenge for any organisation, especially for those with a rapidly growing and dynamic workforce like Coin.
Since its large presence in Italy, Coin has to manage and contractualize a large number of brands occupying the shelves of its supermarkets on a daily basis;
For each brand, depending on the type of agreement, COIN drafts two main types of contracts:
- Departmental management contracts;
- Concession contracts
The volume of these contracts is high and, every day, the sales department spends several hours preparing, negotiating and signing them.
In addition to this, one of the biggest difficulties, and the main reason for wasting time, is the use of multiple platforms for the various stages of the contract lifecycle management, e.g. Email platforms for sending the contracts and text editors for the creation and negotiation of the contract itself.
❓ The needs
Coin approached SLT with the goal of identifying and implementing a system able to manage the entire life cycle of concession and management contracts on a single platform, from the initial phase (drafting) to the final phase (signing), passing through the negotiation phase (with the possibility for this to be traceable, i.e. a chronological history of the various changes made would be visible)
🤒 Pain Points
💡 The Solution
In an initial strategy session with the Legal Counsel and CTO of the company, Sweet Legal Tech’s team managed to fully understand the needs of the company.
Furthermore, SLT has studied the market in order to verify the functionality, pricing and efficiency of the possible CLM solutions existing on the market, in line with the needs and the vision of the partner company.
Sweet Legal Tech conducted an analysis of the contracts provided by COIN, which subsequently revisited and adapted by making them more user-friendly and preparing them for upload to the Contract Lifecycle Management platform Bigle Legal.
🗓 Timeline
🏆 Benefits and Results
Departmental management contracts
Before | After |
10 hours: average time for drafting | 10 minutes: average time for drafting |
2 weeks: average time to contract conclusion | 1 week: average time to contract conclusion |
3: used software | 1: used software |
ink signature | negotiation traceability |
e-signature |
Concession contracts
Before | After |
10 hours: average time for drafting | 10 minutes: average time for drafting |
2 weeks: average time to contract conclusion | 1 week: average time to contract conclusion |
3: used software | 1: used software |
ink signature | negotiation traceability |
e-signature |
