BNY Mellon cuts contract turnaround time 50% with AI CLM across 78,000+ contracts

BNY Mellon’s contracting operations were fragmented across multiple IT systems, forcing Legal to hunt for contract information and rely on SharePoint authoring plus email review. Other teams lacked visibility into contracts and depended heavily on Legal for drafting and approval, creating bottlenecks. The bank also lacked proper audit trails, obligation monitoring, authoring/approval workflows, supplier validation checks, and standardized clause libraries—raising GSCM policy compliance risk.

Sirion became BNY Mellon’s CLM partner, migrating over 78,000 contracts into a centralized repository and digitizing drafting, review, negotiation, and approval. Contract AI auto-extracted preferred templates, clauses, and 100+ metadata fields; automated workflows with validation checks enforced GSCM compliance; and integrations pulled data from risk and procurement systems. An organization-wide dashboard tracked service levels and obligations, with migration supported by AWS Auto Scaling and Amazon EC2.

Contract turnaround time fell by 50% as cross-team dependencies were reduced and approvals moved off email into automated Legal review workflows. Obligation management strengthened third-party and supplier governance, while shared templates and clause libraries let other departments draft contracts without always involving Legal. System integrations also auto-triggered downstream actions, such as releasing a purchase order once a contract was signed.

• • Centralizing a large legacy contract corpus with AI metadata extraction unlocks visibility that email/SharePoint processes cannot provide
• • Automated workflows with embedded compliance checks reduce Legal bottlenecks while improving GSCM adherence
• • Giving non-Legal teams access to templates and clause libraries frees Legal capacity and speeds time-to-contract