Modernizing Contract Processes with Cequence
Cequence introduced modern functionalities that have truly advanced our contract management processes. We value not only the technical solution but also the local availability of the team and the opportunity to co-create workflow design. Through personalization and automation, our processes are now both simple and efficient for users with less complex needs, yet detailed enough to meet all regulatory requirements in more complex cases.
Customer
VÚB Bank is one of Slovakia’s largest financial institutions and a member of the Intesa Sanpaolo Group. It provides a full range of banking services for retail and corporate clients, managing thousands of contracts annually — a process that requires high levels of efficiency, accuracy, and regulatory compliance.
The Challenge
The bank’s previous contract management system wasn’t designed to handle a high volume of contracts or users. It offered a single, rigid workflow for all teams, regardless of contract type or process complexity.
This led to inefficiencies, including email-based approvals, manual errors, and user frustration, especially during peak procurement periods when the system struggled to keep up.
The client needed
- A reliable and stable system that performs even during peak periods
- Flexible workflows tailored to different contract types and departments
- Better process control and ensured compliance with internal and regulatory rules
- Rapid implementation within a limited budget
The solution
This was not a replacement of the old system but a complete redesign, introducing higher efficiency, transparency, and simplicity to everyday operations. Implementation covered everything from process design to training and went live before the end-of-year peak season.
Key features
- Personalized workflows – Four process types (procurement, real estate, intragroup, and universal repository) customized for specific departments.
- Automated contract preparation – The system assembles contract bodies and annexes based on predefined rules, removing the need for manual editing.
- Automated review and approval – Automatically routes contracts to the right departments based on a simple questionnaire and assigns approvers by commodity type and contract value.
- AI data extraction – Quick data retrieval for regulatory reporting (e.g., DORA).
- Contract chatbot – Instantly finds key information within contracts.
- Control mechanisms – System-generated tasks ensure that no mandatory step is skipped.
- eSignature integration – Enables secure digital signing and archiving directly within the platform.
The Result
13 MDs
saved annually across 400 new contracts.
- Automation saves around 15 minutes per contract during preparation,
- and 4 minutes during review and approval,
- equal to roughly 13 MDs annually across 400 new contracts.
50 MDs
saved by AI-based data extraction under DORA.
- AI-based data extraction from ~1,000 contracts (≈16,000 pages),
- replaced manual review,
- saving ≈50 MDs.
2 MDs
saved annually by end-to-end digital signing.
- End-to-end digital signing,
- and archiving,
- saves another ≈2 MDs annually.
Cequence has brought lasting value through a combination of modern technology and close collaboration with the client’s team. The personalized and automated workflows simplified daily operations while maintaining the depth required for regulatory compliance. Continuous improvements have increased user satisfaction, leading to higher adoption and engagement over time.
