Reduced Contract Errors and Compliance Risks with In-App Guidance

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A financial services company implemented Whatfix to guide Sirion Labs CLM users through key contract fields, reducing contract errors by 94% and improving audit compliance. This in-app guidance provided real-time support, significantly improving data accuracy and reducing risks during audits.

In Q1 2024, the company's finance and legal teams experienced 143 contract errors caused by missing or incorrect unique field identifiers in Sirion Labs CLM. These errors resulted in invalid contracts, distorting metrics and jeopardizing the accuracy of contract records. These discrepancies posed significant audit risks, potentially leading to findings of non-compliance, legal complications, and an inability to meet regulatory standards. With only one Sirion Labs CLM admin authorized to delete invalid contracts, the process was slow, further exacerbating the issue. The company needed to focus on reducing errors in critical fields such as ‘contract number,’ ‘counterparty name,’ ‘customer number,’ and ‘Contract Deficiency Report (CDR) Title.’

The company used Whatfix to create in-app Flows for each critical field in Sirion Labs CLM, ensuring end-users correctly entered data in the required format. Each Flow provided step-by-step guidance for fields such as ‘contract number,’ with Smart Tips linking to additional help articles for further clarification. These Flows could also be triggered from user support articles, with engagement rates higher than traditional help resources. The guidance helped users prevent errors in real time, streamlining the contract creation process and reducing the risk of invalid contracts.