The company is dedicated to moving towards a clean energy future, focusing on a transition to energy storage.
Independence Group manages contracts from end-to-end, generally overseen by legal and procurement teams. As such, contract data was dispersed across the company and shared across a number of disparate systems such as SharePoint, Excel and various file servers. This led to data being siloed, rendering it inefficient and underutilised. Calling up necessary files and information was becoming labour-intensive, and the company found it hard to extract data and then report on the content and status of contracts.
Further to these issues, the inefficiency of the system was leading to a very real risk of missing key contractual deliverables, which in turn may have led to breaches of contract and dissatisfied customers.
Having conducted internal assessments and a thorough audit process, Independence Group recognised the need for an improved system, and began the search for better ways to manage contract procedures across their entire lifespan.
“ At first, it seemed there was no clear best-practice solution in the current market. Many were priced so unattainably it was difficult to build a business case, considering we are a mid-tier mining company with a lean corporate structure,” said Steven Newton, Business Analyst at Independence Group.
Once Independence Group had analysed the return on investment they expected to achieve from a technology solution, it became clear that Hyland’s OnBase platform was the most compelling content services solution, and that Hyland offered more services that may prove useful to the organisation in the long term.
“The total cost of ownership was comparatively low with OnBase, and it is a structured system with a mature back end. The platform also allows us the flexibility to continue to shape to our business practices and needs, which are constantly evolving,” continues Newton.
The organisation deployed OnBase, and now manages all procurement and legal contracts through the platform. The system is also set up to look after vendor management with compliance based notifications, and has been integrated with Independence Group’s Enterprise Resource Planning software to ensure accurate spend is allocated to the correct contracts.
Each contract held by Independence Group is subject to the company’s stringent quality control policies, ensuring that all factors in the end-to-end lifecycle of a contract are governed by correct rules and regulations. Since moving to OnBase, the company’s contract compliance data is now being reported on through a Business Intelligence (BI) tool, which provides deep insight into daily operations and offers dynamic, real-time reporting.
Workplace operations have been enhanced by a clearer view of the end-to-end lifecycle of each contract, there is better governance around accessing and updating documents, and stakeholders can access and process accurate, up-to-date information remotely, or wherever they happen to be within the organisation.
Significant amounts of time are saved when delivering information to and from contracts, and critical data can now be pushed through to the dashboard and formatted into reports in real-time, which facilitates better communication with management. Improved governance is leading to reduced risk of error, and fewer manual tasks are saving the company time and, again, reducing risk.
Looking to the future
Independence Group’s contract management solution is evolving, as the organisation looks to implement more of Hyland’s content services solutions across the wider company.
“We are currently in the process of tracking ROI so we can report tangible contract savings to management, which is driven by the more efficient systems and content structures we now have in place,” said Newton.
Independence Group has already integrated OnBase with the company’s ERP, and are now looking to integrate content services with other systems. Hyland’s low-code solutions will make this a relatively quick and easy process, as they allow for rapid integration of systems, and for ‘bridging’ one system with the next using drag-and-drop and other low-code functionality.
Company: 500 people across several sites
Solution: Hyland’s OnBase platform