uh first of all welcome everyone to our what's new for Legal Service delivery webinar series I'm here to walk you through all the Innovation uh in legal service delivery specifically contract management Pro that was introduced in the M store release before we get started I did want to go ahead and introduce myself my name is John loaf I the director of product management for contract management Pro I've been with the company for about four months but prior to this I spent the past nine years in a solution Consulting leadership position at a legacy CLM provider where my team was responsible for working with customers to optimize their contract management processes joining me is Alex pong who is a senior Innovation solution advisor Alex has been with service now for close to 10 years leading teams recognize the value of standardizing on the now platform I am now going to go off video so we can focus on the presentation so for today's session this is part of live on service now a curated event series to connect you with service now experts and peers that can help you deploy your product and uh achieve value faster we hope you join us again at another webinar you can see the schedule by scanning either the QR code or using the link in the chat before we get started I did want to cover some Logistics uh please use the Q&A button on the bottom of your screen for any questions this will allow us to properly document and monitor all questions this session is also being recorded and will be shared on the service now community site so don't worry if you miss any of the finer details being covered lastly your feedback is necessary to help improve these sessions so you'll receive a survey link after the event we really appreciate you taking the time to enter your feedback so for our agenda we'll be running through an overview of CM Pro to provide a baseline understanding what is possible we'll then cover the new innovations that came out of our M store release followed by a live product demonstration by Alex and then open it up for Q&A as with any of our presentations there may be future products that may be discussed and as such they are covered under this Safe Harbor notice since Road mapap items are are forward looking and are subject to change without prior notice so before we get uh into what contract management Pro is I want to talk about the current state of contracts everyone on a personal professional level interacts with contracts for individuals this can include cell phone contracts apartment lease agreements and auto loans for businesses this will include purchase agreements ndas msas partner agreements and much more regardless of the use case a contract is important because it aligns two parties on the expectation what is going to be provided and what quantity in what interval and what penalties will be incurred if the contents of the contract are not met this helps businesses plan for Downstream processes that rely on those services or goods and as companies grow the volume and variability within each of those contracts also grow which is when organizations start to feel pain from aumers some contract management process at a certain point companies recognize that it's not sustainable to grow their business until they mature the fundamental process of contract management now that a company recognizes the problem what do they do they typically look to Software and when looking at software it's common that Legacy contract life cycle management providers or CLM providers emphasize Advanced functionality and in doing so they get the Buy in from uninformed customers that they need to take a leap from fully manual to fully automated and this is a recipe for disaster anyone that has gone through this type of CLM implementation recognizes that this is a rocky Journey Rocky from a customization and configuration perspective but also the change management is something many customers are not ready for instead customers should be thinking about this process as a multi-stage process or a journey and by understanding and prioritizing business challenges then aligning those to relevant features this saves customers the frustration associated with a big change management project while also allowing them to recognize value from their investment in a shorter amount of time with that our solution to a contract management problem is what's called contract management Pro and contract management Pro is a thoughtfully built out contract management solution that was built in partnership with our customers as well as legal teams both internal and external to our organization to help solve for the most common Contracting problems as it relates to six key areas uh which includes requests authoring electronic signatures a centralized repository obligation management and analytics and I'm going to go into each of these in a bit more detail we provide our customers a self-service way to initiate the creation of a standard language contract we also provide them a self-service way for a third party contract to be reviewed regardless of the use case there's a configurable intake form we're able to capture all of the relevant information that your legal team determines as important in addition to the contract itself as they submit that request we can identify the appropriate workflow and in the case of a standard language contract we can identify the appropriate contract template and then update that template with relevant information that was captured which can include the ability to include or exclude language or Clauses based on predetermined criteria such as who you're doing business with the types of servic that you might be providing or even region specific language just know that one that contract is generated which can be done in a matter of seconds is a fully executable contract that can be sent to external parties and that's because we are using predetermined and pre-approved legal language in the case of a third-party contract we allow internal and external stakeholders to continue to negotiate within the applications that they're familiar with and that they prefer but we're able to keep all track of all versions of the contract directly within our platform we also allow two-way communication between the requestor as well as the fulfiller that way everyone is Welling the know of where a contract is within the assignment process the creation process the approval process and whether it's been sent out for external review and that helps to limit the amount of back and forth that may happen between internal uh constituents as a contract is ready for execution we do have prebuild Integrations through eal providers such as Adobe sign as well as doy sign to keep that process digital and then once that contract comes back we can store them all within a centralized repository either on the now platform or through one of our pre-build connectors through one drive and Google Drive just know that regardless of where you're storing these contracts you can take advantage of CM Pro's robust search capabilities to search within the uh text within the contracts as well as the uh metadata that you've been able to capture along the way we're also able to keep track of relevant obligations such as contract of renewal dates and then set up automatic reminders to notify relevant parties well in advance of those upcoming dates that way they can start taking action and minimize any kind of risk of contract lapses and because everything is being stored or being uh done and formed all on CM Pro we're going to be able to provide you rich analytics through out of the box and configurable dashboards and Reporting that's going to provide your legal teams the much needed and wanted uh data to help them make data better data dripping decisions now that we know what CM Pro is capable of doing let's talk about the M store release the store release included a number of enhancements but the three that we'll cover are the SPO Better Together plugin contract workspace and contracts dashboard the first major lease will cover in the integration between CM Pro and source of pay operations contracts exist in multiple stages of of a procurement process two examples of this is during the bidding process when reviewing bids from different vendors or suppliers there may be new suppliers that you'll be working with and part of this process will require them to be on board as an approved supplier which will require the creation of standard language contracts for them to sign another use case is when you've awarded the bid to A supplier at this point thirdparty contracts are created by the supplier which will need to be reviewed by your legal teams both of these use cases in the past would require procurement specialist to manage this manually through email which creates a cumers process that opens up an organization to risk risk to an organization from the contract itself but also risk to Downstream processes for not having a contract in place in time CM Pro integrated with source of pay uh operations resolves the this problem by allowing the creation of standard language contracts or the request for thirdparty contracts to be done all within the SPO workspace visibility of all requests and even completed contracts are also contained within this workspace too and what this means is that procurement Specialists will be able to efficiently manage the end to-end process for onboarding suppliers negotiating supplier agreements and much more all within the workspace they work from daily and with a more efficient process they will be able to mitigate risk to the organization from inconsistent contracts and and improve contract turnaround times moving on to contract workspace as we expand CM Pro's reach to other lines of businesses such as SPO today sales and Order Management in the near future and others on the road map legal teams will need a place to work for them and this is what contracts workspace is the contracts workspace is going to provide your legal teams or contract administrators a clear view of important data such as requests assign requests contracts and varying statuses contracts assigned to me and much more when working from the contract's workspace legal teams can manage workloads across users while ensuring each request is being fulfilled per their slas and ultimately a quicker contract turnaround time means the legal team is doing their part to produce the risk to Downstream processes as for contracts dashboard data is something that legal teams have always wanted but was difficult to get especially with the contract management process with the new enhancements to CM Pro contracts dashboard we're able to provide legal teams the much wanted and needed data to help identify errors that need improvements in operational efficiency with this information readily accessible in cm Pro legal teams will be able to make data driven decisions to create a more efficient contract management process which includes workload management performance forecasting and much more so now before we get into the product demonstration I want to spend a moment to set the scene for a Better Together story between SPO and CM Pro as you all may know there are a variety of different tasks within a source of pay process however there is one task that always required of camera professional to SP a chair out of their preferred workspace and into another application and this is contracts our solutions to this contract uh to this is contract management Pro now with that context I'm going to hand this over to Alex to walk you through our source of pay Better Together story thanks John all right so everyone on the call thank you today for your time I want to give you a quick understanding of the demo uh personas and the journey map that we're going to be leveraging today on the left-hand side here you see Shirley Ross she's going to be our requester employee and then Warren Summers who's going to be our procurement specialist so you know the reason why contract management Pro uh we're talking about it today is the ease of use for it especially for uh simplified contracts that are been that have already been preapproved if you will right so in this case Shirley is going to submit a request to Source some some applications uh Warren's going to work on this request and then uh he's going to verify that the NDA is signed create NDA Etc and then from there we will close out the demonstration so moving forward now again you know what you're seeing here is the service portal Shirley is an employee with the company she's got a uh a board meeting that's coming up and she wants to sh share some sensitive information but she also wants to be able to do it in such a way that it's going to Dazzle right it's going to be it's going to be showing off if you will because it is a bunch of folks that are going to be joining at a high level so she's requesting these PowerPoint toolkits and she's got a budget of about $8,000 that she can spend on this so from a requesting perspective Shirley's going to come in here she wants a quote she needs a quote and the reason why again as I mention it's for upcoming board meeting and she wants to Dazzle that's the reason why she's asking for this and obviously she wants to get this as soon as possible so we'll put in some dates here to start with with and additional notes right she is going to be uh discussing some sensitive information all right so from an end user perspective it's that simple to come in here and and request something from a portal perspective she can also review what she has just done now obviously she's the end user now let's see what this looks like on the back end so we're going to transl over to to Warren and Warren is our procurement specialist and so Warren is now going to work on the request that Shirley has just put in and this here right here is the uh social to pay workspace this is where Warren comes in he understands his job functions things that he has to do but we're going to go with this uh maybe at another time today we're going to jump in and understand the requests that Shirley has made so from uh procurement perspective sorry one second here folks and while Alex gets that uh set up I just want to remind everyone if there are any questions please add them to the Q&A U section in the bottom of your screen yep John give me just one second if you wouldn't mind covering for me just a second something seems to be hung up here I apologize folks give me just one and I just wanted to recap what Alex just walked you through so Alex provided um a view of what your employees would look uh would be able to see as they're going into a service now as they normally would to submit a request for an item to be purchased and really what Alex is going to be showing you at the next point is what source to pay operations is going to do in the background which is going to allow those procurement professionals to start taking action on that request which could require the necessity for a contract to either be created or for a contract to be reviewed um which uh which is where really where the connection point between service now and uh or I'm sorry source of pay operations and contract management Pro come into play sorry about that John are you able to see my screen okay now yep we can see it apologize folks for a little bit of snafu there all right so again um Warren is in here now he is looking at the request that Shirley has has submitted and Warren's got to got to start qualification on this particular request to make sure that everything is good in order for him to be able to approve this for surely so we're going to start the qualification and and as this is loading up right there's some things that we need to take into account so as you remember earlier Shirley put in that she is going to share some sensitive information so as we go through this there are some things that we can look at the details of the request that Shirley had the purchase line that's associated to this but also Warren knows that he's going to have to create some sort of NBA contract so with this being said right the simple fact now is that Warren is able to come in here because it is tied together on the platform to be able to pull in that information and as you notice bright carbon is the supplier of choice currently at this point and if you look here Jim Anderson is our supplier contract our contact sorry so with this being said the type of contract that we're going to have is going to be our own paper right so anything that we're going to have somebody else sign is going to be our own paper if we're dealing with something else from a third party we could choose that of course and in this case it's going to be an NDA very simple contract and we're going to choose some dates started tomorrow and have it end at the end of uh next week so now Warren's able to initiate this contract he doesn't have to swivel share everything is now on this on the platform and he can move back and forth and not disrupt his work accordingly all right so from a contract's perspective we do tie in as John mentioned with either Google drive or one drive Etc so we can have that contract here as well and as you can see we are tied into one drive currently if there were any other supporting documents that could be you know that maybe you're working on it could be uploaded here as well but as you can see here we've got a couple of signatories that are required and as you look at the signatory order 10 being the lowest that's going to be Warren so Warren is going to be our first signatory and then Jim is going to be our second signatory so from a a integration perspective as as John and I mentioned before we do tie into to uh either Adobe sign or with uh docu sign so now from a contract and Doc sign perspective that email is sent off Warren has now got it in his inbox he can review the document look at it make sure everything is great he's going to agree to this and move forward so now from a signing perspective he's able to log in here sign it and be done with it now once more finishes this and signs off accordingly that workflow is going to continue on and now we're going to look at at it from Jim's perspective and as I mentioned before Jim was in there because he was associated with the account of breit carbon so now in Jim's uh email inbox he can review this document as well and then he'll do the exact same thing that Warren did agree to it sign off and then now we have a fully executed contract and the great thing about this is because it is all digit digitized everyone will have the information in their inbox all right so at the end of the day the emails will go through everyone signed off on it and then people will have it in their inbox to keep in their own personal repository or work repository or whatever it may be all right and as I refresh this page right as I refresh this page the status is now closed complete we've got signed documents here from both sides and everything is good to go okay now with that being said we're going to continue moving forward and you know again this is the stion review request we're going to continue on the next stage of this is going to pull up um the purchase lines we're going to look at the purchase lines here in just a second so we'll continue on with this now if there was any other approval requirements they would be stated here maybe if there's a dollar sign that or a dollar value that has to you know maybe it's like $10,000 that then you would have to assign it to someone else for approval whatever that may be you can have additional approvers here as necessary but because of this dollar limit value we're not going to need an additional approver there are going to be some additional work though that has to be done so as you can see in this particular instance here Warren's got to do a couple things that has been assigned to him he's got to review the budget details for the purchase requisition and then he's also got to conduct a due diligence on the supplier so we'll do this relatively quickly so again here we're going to look at the the uh the budget details we know that there's a budget of $8,000 that Shirley has requested that's fine we know that it's within our budget as well we can move forward to the next step and then conducting the due diligence on the supplier so if you know if it's a new supplier we want to make sure that we've got the necessary information that they're in good standing if they're an existing supplier what have you but again for the sake of Simplicity for this demonstration we'll move forward with this as well all right so as I refresh the screen you'll see that those two those two cases have been closed completely because War has just done them now as we move forward um if there is a again a large enough contract that we need to do some sort of negotiation we can create a negotiation event but again this one is relatively simple the dollar amount the dollar threshold is low so we'll continue moving forward so now we've completed the qualification we've done our due diligence as a procurement specialist everything is in place everything is good to go we can complete this and get some things moving for surely all right so now we can add pricing to this and as I mentioned earlier the purchase lines we can go back into there look at the purchase line and the budget was um $88,000 we're going to get a quantity of one from A supplier perspective and you know what we actually find out that it's $7,500 but because Warren is such a good procurement specialist maybe he got it down to $7,000 and now at this point everything is good to go we've done the the NDA to make sure that we can share the necessary private information the necessary sensitive information and now we can award this to the supplier and this concludes the demonstration of contract management Pro back to you John awesome thanks Alex so I just want to recap some of the things that Alex had showed and some of the things that uh contract management Pro is actually capable of doing let me go ahead and share my screen once again though so what Alex showed you is the ability for employees to actually go through a portal that they would normally go through to actually submit for a product to be uh purchased that automatically would sync up with source to pay operations which is going to allow procurement teams to see the request and they can start taking action on that where CM Pro comes into play is as they're actually going through and submitting a bid with different suppliers or vendors there could be necessity to actually onboard a new supplier and that's going to then require that standard language contracts could be created and signed and directly within the SPO workspace the procurement professional is going to be able to initiate the creation of those standard language contracts and an example of that would be the NDA once they create the NDA they can actually send that out directly from source to pay operations uh for external review get the signature and have full visibility all within the SPO workspace so it doesn't require them to swiv a chair out to separate application to take care of that task alternatively as you're moving along within the procurement process there may be a need as you're awarding the bid to a particular supplier or vendor to be able to actually um ingest that thirdparty paper because now you actually need to start negotiating on it as you ingest at their party paper that uh specific action can also be done within the source to pay operations workspace so once again that camera professional they can go ahead and uh submit the request interact directly with the legal team without having to leave the workspace that they work from daily the legal team is going to be able to work from contracts workspace and then they can start negotiating on the contract itself once that contract is uh ready for execution we can send it out through one of our pre-built connectors through doy sign or adobe sign and then the ability for that document to automatically be stored directly within Source pay operations for quick reference is uh part of how the plug-in actually works so once again prair Professionals in the previous they might have had to manage this process outside of the workspace that they regularly work from with the source of pay Better Together story they don't need to do that they can take action by initiating the request um uh communicating directly with il legal professionals or even referencing past contracts all within the source a workspace so with that being said um we walked through quite a bit which includes what uh what is CM Pro to level set what's capable today what was introduced in the M store release which is the uh Better Together story with source to pay operations the introduction to the contract's workspace which is part of our overall strategy to allow CM Pro to be used across the entire Enterprise and then also the contracts dashboard this is extremely important for any legal teams that are looking to modernize their contract management process because in the past they didn't have access to data and now they do have access to data to help them identify areas of improved efficiency as well as for them to make better datadriven decisions so with that being said I'm going to pause here and take a look at the Q&A to see if there's any questions for Bross and I didn't see any questions that came in Alex did you see anything no I did not join all right so once again if there are any questions feel free to use the Q&A button on the bottom of your screen it doesn't look like anything's coming in so we can wait for another 30 seconds but of course if there are any questions uh if you're watching this recording uh or if there's any questions after the fact feel free to reach out to your account team and then they're going to be able to uh answer any questions for you uh a question did come out for are there any AI capabilities so once once again uh part of our strategy as a company at service now is the AI first so we are infusing AI across our entire platform which includes contract management Pro uh so for a road map item and once again the Safe Harbor agreement was shown at the beginning of this presentation uh we are actually introducing AI capabilities by the end of this year which is the ability for us to ingest thirdparty paper automatically use AI to review that contract to identify risky Clauses or even missing Clauses and then uh and then use Playbook automation to make recommendations uh from our Clause library to identify what types of pre-approved language should we be potentially inserting into the contract um in 2025 we're going to expand beyond that to introduce uh enhanced AI capabilities to uh allow that same type of review to be done on a variety of different types of contract types uh instead of just ndas and then we're also going to be able to use AI to automatically ingest third party paper automatically review that paper and then out relevant metadata as well as obligations all right are there any additional questions all right it it looks like nothing else is coming in uh we just hit the 8:30 Mark U my uh local time so what I'll do is I'll close this out um but once again if there are any questions about what cmpr is capable of doing some of the future capabilities through our road map feel free to reach out to your account team and they can share with you um share with you some additional information and if necessary they can always schedule a meeting and set you up with the product team as well all right have a great day everybody