Recorded Books Centralizes Agreements & Optimizes Ability to Locate Data
Situation:
Recorded Books is the largest independent publisher of unabridged audiobooks and provider of digital media to consumer, retail, professional, school, library and infotainment markets. The company owns an exclusive catalog of more than 35,000 audiobook titles narrated by professional, award-winning actors. In addition to offering the highest-quality audiobooks, Recorded Books also delivers eBooks, magazines, comics, entertainment services, educational offerings, and more.
Managing partnership contracts is critical to Recorded Books’ ability to serve its public and institutional library customers on a consistent basis without interruption, as well as to ensure smooth internal management of contracts.
Challenges & Objectives:
The company wanted to track partnership agreements and other business arrangements but lacked proper visualization of their data. Their use of shared documents and storage provided a basic means to capture and retrieve agreement data but did not offer a “one-stop shop” for all their contract management needs. Data visualization and follow-through on contract dates are obstacles for every organization, and in Recorded Books’ case, they sought to improve their tracking and insight into this business-critical pipeline structure by adopting a contract management software solution.
Solution:
The company selected Contract Logix Express contract management software to meet their needs. It offers a secure central repository equipped with an intuitive interface, enabling users to easily take advantage of the system’s configurable data tracking and notification features.
Expanding their tracking of data for other, unique contract types was also a goal of Recorded Books. The Type Manager feature within Express offers the kind of quick, configurable approach the organization sought. Contract milestones, as well as renewal and expiration dates, are of obvious importance to Recorded Books. The Alert Rule feature and configurable templates allow the company to provide automated insight in to these critical pieces of data on a scheduled basis, preventing contract lapse and revenue loss.
Results:
The onboarding process was straightforward, and the one-on-one guidance provided by Contract Logix helped Recorded Books get their first hundred agreements into the system within a couple weeks.
The Express product has enabled Recorded Books to quickly organize their fragmented contract and document collections into a single, secure source of truth that allows them to actively monitor contract status and easily report on key terms and agreement types.
Approximately 50% less time is spent manually researching contracts when a report or search from Express can surface the desired information virtually instantly, and staff are confident that they are accessing the latest most authoritative document source.
We were up and running with the Contract Logix Express product quite quickly. We’ve already expanded the types of agreements we plan to manage within the system. During the onboarding process, it has been extremely helpful to have a dedicated person to help us get up and running.”
— Jacob Cross, Partnership Development Manager, Recorded Books, Inc.