corteva case study: building sustained value from a ... · enterprise legal management (live) •...
TRANSCRIPT
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Corteva Case Study: Building Sustained Value from a Preferred Panel Program
June 3, 2020
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2 © 2020 Onit, Inc. All Rights Reserved.
Welcome to the Webinar!
Agenda• Lean Into Legal Ops Overview• Introduction• Corteva Case Study• Moderated Panel Discussion• Q&A
Housekeeping• Submit questions during the webinar• Live Q&A at the end• Let us know if you are having technical
difficulties
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3 © 2020 Onit, Inc. All Rights Reserved.
Speakers
Matt DenOuden
VP of Global Sales
Gregg McConnell
Legal Operations Leader
David Falstein
Director, Client Strategy & Success
Jesse Viani
Regional Director of Sales & Sr. Account Manager
Corteva
Onit
Onit
PERSUIT
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4 © 2020 Onit, Inc. All Rights Reserved.
Houston, TX
Onit is a global leader of enterprise workflow solutions for legal, compliance, sales, procurement, IT, HR
and finance departments.
24 / 7Call Center
Support
400+Customers 57
Fortune 500 Customers
16Fortune 100 Customers
300+Employees
and Growing
Mountain View, CA
London, UK
Pune, IndiaAustin, TX
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5 © 2020 Onit, Inc. All Rights Reserved.
Apptitude is the foundation of all Onit products
• Enterprise App development • No-code configuration • Agile project management• Rapid value delivery • Responsive user interface• Adaptive end user experience
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6 © 2020 Onit, Inc. All Rights Reserved.
Coming Up in Lean Into Legal OpsFridays at 10:30 a.m. CDT
– Weekly Lean In check in call– Customer App demonstrations
Thursday, July 18 at 10:00 a.m. CDT• Transforming Legal Service Delivery and
Enabling Self-Service at Pearson• Speakers:
– Robert Mignanelli, SVP, Associate General Counsel, Global Product/Technology, Pearson plc
– Joy Saphla, President, Morae Legal, Morae Global Corporation
– Matt DenOuden, VP, Global Sales, Onit
Join Lean Into LegalOps program for updates and invitations!
Join and Register for Events:https://www.onit.com/resources/onit-and-
simplelegal-lean-into-legalops/
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7 © 2020 Onit, Inc. All Rights Reserved.
Introduction
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8 © 2020 Onit, Inc. All Rights Reserved.
Evolution of Panel Consolidation and Fee Management
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9 © 2020 Onit, Inc. All Rights Reserved.
Industry Benchmarks for Legal Procurement
Source: Buying Legal Council 2020 Market Intelligence Report
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10 © 2020 Onit, Inc. All Rights Reserved.
How Onit + PERSUIT Drive Value in Outside Counsel Selection
• Provides a comprehensive end-to-end ELM solution, from establishing your panel, to panel rules, to framing fee arrangements, to opening it up to law firms to propose fee arrangements, to in some cases competitive bidding. In short, matching the right firm to the right matter on the right fee arrangement—and finally, measuring it all and taking these learnings forward
• With Onit & PERSUIT together, one seamless workflow drives internal operational efficiency and external cost savings on outside counsel
• Integrates best-of-breed solutions, from intake and management of legal requests/matters to the competitive sourcing of external legal services through to e-billing and payment
• Enables your legal department to make the right sourcing decisions to drive value, cut cost and measure it all in your organization
• For select matters, provides the foundation for 20-40% reduction on external legal spend on these matters
• A comprehensive approach will drive double digit savings across full legal spend
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What is PERSUIT?
Automate the AFA & RFP process
Leverage the power of real-time bidding
Surface insights that empower Legal Ops
Allow firms to confidently offer AFA pricing and instantly compare their
responses.
Bidding work out to their panel firms & allowing firms to revise price in real time to achieve true-market
pricing.
Making data-informed decisions with buying information that has never
been captured and leveraged.
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Onit-PERSUIT Data Flow
Onit Matter Record
PERSUIT
Onit Vendor Assignment to Matter & Fee Arrangement
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13 © 2020 Onit, Inc. All Rights Reserved.
Today’s Featured Speaker
• Gregg McConnell, Leader of Legal Operations and Technology at Corteva
• 25+ years of experience in finance, procurement and technology
• Expertise in building, transforming, and strengthening contracts, purchasing, sourcing, legal, and financial operations
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Public 14
Rooted in ExcellenceCorteva Agriscience draws upon the combined strengths of three agricultural leaders.
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$6.9B
$2.9B
$2.7B
$1.3B
1
We provide the right mix of seeds, crop protection, and digital solutions to maximize yield and improve profitability, ensuring an abundant food supply for a growing global population
~21,000Colleagues
140+Countries
10 million+Customers
150+R&D Facilities
14,000+Granted Patents
100+Production &
Mfg. Facilities
65+Active Ingredients
100+Crops
8,000+Sales Force(2)
HQ: Wilmington, DE
Business Centers in IA & IN
Regional Sales Centers
15
About Corteva Agriscience - Global Scale and Market Presence
Our CompanyAs of December 31, 2019
$13.8B2019 Global Net Sales
North America
$2.2B
$4.7B
Latin America$1.1B
$1.8B
Europe, Middle East & Africa
$1.4B
$1.3B
Asia Pacific
$0.9B$0.4B
SeedCrop Protection
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16 © 2020 Onit, Inc. All Rights Reserved.
Onit Products at Corteva
Enterprise Legal Management(Live)
• Industry-leading matter management, spend management, and e-billing with configurable workflow capabilities to match business needs• Integrations
• Netdocs• Three separate SAP
instances• Memotech
Legal Holds (Implementing)
• Configurable workflows that automatically assign tasks in real-time to the appropriate custodian to ensure information preservation and compliance
Legal Service Requests(Implementing)
• An intelligent, self-service intake portal that processes all legal services requests with configurable workflows, automated notifications, and a complete audit trail
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17 © 2020 Onit, Inc. All Rights Reserved.
Corteva Usage Data
Usage Type Result NotesTotal number of users 272 Refers to active user profiles
Total number of countries 44 Refers to the number of vendor office locations
Total number of BillingPoint users
481 There are 481 active vendors for Corteva at this time
Total number of invoices created per month
2166 This is an average per month since January of 2020
Total number of matters created per month
424 This is an average per month since January of 2020
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18 © 2020 Onit, Inc. All Rights Reserved.
Business Benefits Realized
Consolidated three separate companies within one ELM system for handling all matters, law firms,
and billing
Centralized billing process across these companies, obtaining a clear
understanding of where and how money is spent and how we can improve
Understand comparatively what we spend with law firms and other
resources to be more effective with bidding processes
Achieved actionable insights with holistic and detailed matter reports
Achieved adoption with a very intuitive and user-friendly interface
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www.persuit.com
Corteva’s Outside Counsel Engagement Program
powered by PERSUIT
Ø Panels are step 1 in a market-driven AFA program
Ø Matter level bidding enables significant savings beyond “not to exceed” panel rates
Global Panel
Regional Preferred Firms
Matter Level Bidding
20-39% SavingsCorteva Utilized PERSUIT:• Litigation• Investigations• Corporate• Patents• eDiscovery
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www.persuit.com
45% of Spend 15% of Spend40% of Spend
CompanyLegal
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During the 2 - 3 hour reverse auction period:v 34 price revisionsv Two of the vendors reduced
their total price by over 45%v This process saved Corteva
>$2M on its first use of PERSUIT
Case study
Corteva E-Discovery
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Corteva recently ran 9 simultaneous auctions in dif ferent jur isdict ions
• North and South America, India, Austral ia, UK and Europe
• New law f irm hourly rates and f ixed fees for Patent Agent services.
We were able to compare these results against current f i rm 2019 hourly rates:
Rate Reductions Ranged from 10% to 60%
PERSU I T C A S E STUDY: PATENT AGENTS
9 Jurisdictions
43 participating law firms
231 total bids
Both fixed fees and hourly rates
Achieved in 3 Weeks!
HOURLY RATEFIXED FEE ITEMS
AVERAGE PRICE DROP DURING AUCTION
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23 © 2020 Onit, Inc. All Rights Reserved.
Panel Discussion
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Creating a Panel
Why consolidate firms into a panel or preferred provider network?
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Caring for Your Panel
What ongoing management do you need for your panel program to succeed and deliver sustained savings?
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Assuring Compliance
How do you enforce and track compliance with the agreements in place with panel firms and how does the approach differ based on geography?
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27 © 2020 Onit, Inc. All Rights Reserved.
Evaluating Effectiveness
How do you understand what value you’ve already gotten from the panel and ensure that value continuously improves over time?
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Final Thoughts & Questions
Q&A
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Thank you!Website: www.onit.comEmail: [email protected]: 1 (800) 281–1330