Jelly Belly shifts to artificial intelligence for contract management
Jelly Belly uses Evisort’s AI-powered contract management and analysis software to consolidate and streamline multiple slow, manual contract review processes.
About Jelly Belly
Jelly Belly Candy Company, based in Fairfield, California, was founded in 1898 and is one of the most reputable candy manufacturers in the world. The company offers more than 100 flavors of its iconic Jelly Belly® jelly beans and other confections widely recognized as crowd pleasing favorites.
Using Evisort, it’s easy to quickly find the documents, automatically track the data points we need, and delegate each part of the review to just the right person.
Exploring contracting opportunities
In reviewing their contracting processes, the Jelly Belly legal team realized their existing legacy systems did not fully optimize productivity. The lean team had to review several contracts every day, but it would usually take over a week to manually complete the entire contract review cycle, from review to negotiation to signature. Tracking expiration dates and key clauses was also a manual effort, exposing the organization to unnecessary risk. There was a clear need to strengthen their contracting so Jelly Belly could operate at scale.
The team invested in a new contracting solution, but implementation dragged on and they found that the data they’d uploaded to that system was neither search able nor trackable, which meant the manual work continued.
Something had to change. Jelly Belly needed a trusted partner that would help them track and manage contract data, find important details quickly, and efficiently generate new agreements based on existing or past relationships.
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Making the shift to artificial intelligence
The Jelly Belly team connected with Evisort to explore new possibilities. Although skeptical of artificial intelligence (AI) at first, the legal team was blown away by the accuracy and reliability of Evisort’s AI and platform overall and ultimately selected Evisort for their contracting needs.
The Jelly Belly team implemented Evisort and imported their entire contract portfolio into the system. Within less than a month, the team was able to consolidate the multiple manual processes that had been in place. Evisort’s AI helped them accelerate the business by freeing employees to focus on more pressing issues than document management.
With all of Jelly Belly’s contracts easily searchable and trackable in Evisort’s intuitive Contract Intelligence Platform, the team now has a single source of truth for its commercial agreements. Now, every business unit at Jelly Belly has the visibility its leaders need into specific provisions from every contract — from legal to licensing to supply chain considerations, and more. In addition, since Evisort doesn’t rely on outsourcing contract review or manual processes, the Jelly Belly team has regained trust and confidence in the accuracy of their data.
Accelerating contract management with AI
Today, the Jelly Belly team relies on Evisort to quickly find key expiration and effective dates that had previously been buried within the contracts themselves. The team also uses Evisort’s Contract Intelligence Platform to track specific clauses in response to new events; facing the onset of the pandemic, the Jelly Belly team used Evisort to expediently identify critical force majeure clauses throughout all of the company’s agreements, which would have otherwise taken an outside law firm weeks to do at a high expense.
Jelly Belly teams can now easily find all of the contract data they need in one central location, saving valuable time and resources that add up to major productivity and monetary gains. That data is now trackable and easily searchable thanks to Evisort’s comprehensive Contract Intelligence Platform, which continues to work in the background so that Jelly Belly’s legal, finance, and procurement teams are never again caught off guard by a missed deadline or key clause. With manual work all but eliminated, the team has more time to focus on their customers and big challenges, such as creating the newest market-leading flavor of jelly beans.