Executive Summary

Years of manual contract management using PDFs and Excel files was resource intensive and led to missing information that extended across the global organization. For Callaway Golf’s legal department, a lack of centralization and broad accessibility meant the team was spread thin answering questions about their contracts. And a lack of reliable contract data left no way to proactively monitor the renewal and expiration dates across thousands of agreements.

With Pramata, Callaway Golf found a solution to help create a single, centralized source of truth for their contracts that ensures the highest quality data. With Pramata’s unique combination of robust user security and high quality contract data, Callaway’s legal team could enable self-service access to potentially sensitive documents. Ultimately, this greatly reduced the burden on legal while speeding up decision making across the business

• Improved contract “ownership” and rationalization

• Made financial reporting for SEC filings easier and more seamless

• Aided in business continuity

• Significantly improved legal department efficiency

• Improved renewal compliance across the contract portfolio

Challenges

• Previous contract system was riddled with missing documentation and inaccurate data

• No way to proactively monitor renewal and expiration dates across thousands of agreements

• Reporting on key terms and obligations to support compliance efforts was overly manual and ad-hoc

• Many business areas lacked access to key agreement information  

• Legal department was spread thin due to constant requests for contract information

Solution Benefits

• Centralized all contracts into a single, searchable contract repository 

• No data entry required by Callaway legal team for set up or on an ongoing basis. 

• Key terms, obligations and dates identified and extracted from contracts with high quality

• Flexible security configuration ensures users only have access to what they need

• Accurate expiration date alerts cue sales interactions and enhance compliance process