Corteva Case Study: Building Sustained Value from a ... · Enterprise Legal Management (Live) • Industry-leading matter management, spend management, and e-billing with configurable

Corteva Case Study: Building Sustained Value from a Preferred Panel Program

June 3, 2020

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


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

[email protected]

Onit

[email protected]

Onit

[email protected]

PERSUIT

[email protected]

http://gimmal.com

http://persuit.com


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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• Enterprise App development • No-code configuration • Agile project management• Rapid value delivery • Responsive user interface• Adaptive end user experience


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:

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– Joy Saphla, President, Morae Legal, Morae Global Corporation

– Matt DenOuden, VP, Global Sales, Onit

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Introduction


Evolution of Panel Consolidation and Fee Management


Industry Benchmarks for Legal Procurement

Source: Buying Legal Council 2020 Market Intelligence Report


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

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.

Onit-PERSUIT Data Flow

Onit Matter Record

PERSUIT

Onit Vendor Assignment to Matter & Fee Arrangement


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

Public 14

Rooted in ExcellenceCorteva Agriscience draws upon the combined strengths of three agricultural leaders.

$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


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


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


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

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

www.persuit.com

45% of Spend 15% of Spend40% of Spend

CompanyLegal

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

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


Panel Discussion


Creating a Panel

Why consolidate firms into a panel or preferred provider network?


Caring for Your Panel

What ongoing management do you need for your panel program to succeed and deliver sustained savings?


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?


Evaluating Effectiveness

How do you understand what value you’ve already gotten from the panel and ensure that value continuously improves over time?


Final Thoughts & Questions

Q&A

Thank you!Website: www.onit.comEmail: [email protected]: 1 (800) 281–1330

Documents

Corteva Case Study: Building Sustained Value from a ... · Enterprise Legal Management (Live) • Industry-leading matter management, spend management, and e-billing with configurable