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Contract Management
6 min read

EDB Uses AI Contract Data to Uncover Insights

The following is an excerpt from The Link, LinkSquares' quarterly publication. Check out the full publication here.

Founded in 2004, EDB is a global database software solutions and services provider specializing in the open-source database, PostgreSQL. With 16 offices worldwide, EDB serves over 5,000 customers, including leading financial services, government, media and communications, and information technology organizations.

Paul Lucchese, EDB’s Vice President and General Counsel, established the company’s legal department in 2015. Paul and his team are responsible for legal and compliance, including contracts, international expansion, data privacy, corporate compliance, and maintenance for 17 legal entities worldwide.

When Paul first started, the contracting process required Google Drive, Microsoft Word, and spreadsheets. As EDB grew, additional tools were deployed, including Confluence, AdobeSign, and Microsoft Excel. Ultimately, these disparate systems made it more difficult for Paul’s team to efficiently manage dozens of inbound requests across the global Sales team and over 4,000 executed agreements.

Paul realized he needed a contract management system to automate the team’s arduous, manual work, so that they could focus on higher-value tasks such as compliance management, complex negotiations, and global legal strategy.

The Power of Automation

In 2019, EDB was acquired by a private equity firm, Great Hill Partners, and in order to prepare for the acquisition, Paul’s legal team ran through a complex due diligence process, without a contract management system in place.

“Everything we were doing was purely manual. We went through this complex due diligence process when we got purchased and had to go through every contract just to find answers to questions like ‘What kind of liability had we agreed to?’ ‘Do we have any best nations pricing?’ ‘What does our assignment clause look like across different agreements?’. It would have been great to have a system that could pull these insights for us,” Paul said.

“And now, as the company continues to scale, the team is managing more contracts and fielding more requests from Sales. We simply needed a way to automate and centralize the entire legal process and all of our contracts into one platform. This is when I doubled down on my search for a contract management system.”

Emphasis on Customer Experience

Anyone considering a major technology purchase could be apprehensive about the customer experience. For those hesitant about finding a new partner, Paul confirms that the “LinkSquares’ team was incredibly responsive throughout the buying process and was easy to work with... I evaluated multiple other contract management systems and talked to other legal teams in my network to figure out the best tool. Time and time again, I heard that LinkSquares delivered the best customer experience and that a customer-focused team would support me along the way.  At the end of the day, I didn’t need to choose between the best analytics and having CLM. LinkSquares offered me both.”

Breakthrough Efficiency With LinkSquares

With LinkSquares Finalize, the EDB legal team can now easily collaborate with over 100 sales colleagues worldwide while managing over 45 different intake forms, templates, and questionnaires. The team can create self-service processes for simple agreements using pre-negotiated language and clauses. Overall, LinkSquares enables EDB to manage their legal processes more efficiently while also allowing them to structure these processes in a way that works for them.

“The power of LinkSquares comes from its ability to bridge the gap between an executed contracts analytical platform and the legal request business process flow. What I love about LinkSquares is the level of product innovation and seeing a flurry of new features and functionality being added to the product. It’s like they anticipate my needs and then build them into the product.”

Check out more customer stories here. And if you'd like to learn more about how LinkSquares can help your legal team, schedule a demo today