After climbing to the top of the Procurement department, Faridy decided to build a tool that would solve the contract management pains he experienced first-hand for over 20 years. He founded OneView, a cloud-based SaaS tool that simplifies the contract management process. “Enterprises typically have thousands of contracts in force at any given time, and the ability to proactively upload, find, and summarize contracts becomes a tedious process,” says Faridy.
Most organizations are plagued by ineffective contract management processes that prolong contract review timelines, delay business initiatives, increase legal risk, and waste an incredible amount of time and money. After years of searching for a simple solution, Faridy and his team built OneView—a simple, cloud-based contract management tool that is quick to implement, easy to adopt and a fraction of the cost of its larger competitors.
“We believe the modern enterprise deserves a better way to manage contracts. We built OneView to help organizations do a few simple things, but do them well—store contracts in a central location, find contracts easily, review contract summaries, and get critical alerts—without any manual intervention,” says Faridy.
“When we onboard a new client, the first step is to simplify the upload process. We can get all of the agreements into OneView in a few minutes. Then we create a relevant summary of each agreement and setup quick and easy alerts so they are prepared before the contract expires,” adds Faridy.
We built OneView to help organizations simplify the tedious process of uploading, finding, and summarizing contracts
OneView's streamlined contract upload and management process relieves much of the manual process burden that organizations typically struggle with.
As a part of their services, OneView also offers Post Merger Integration services for companies that are involved in a merger or acquisition. The service helps acquiring companies accelerate the due diligence process, review supplier agreements and quantify the risk of merging two entities.
OneView is used by enterprises across the financial services, real estate, technology, telecom, professional services, and non-profit sectors. One of the company's clients, Indigo Books and Music—the largest book retailer in Canada, was storing their contracts in a SharePoint database before adopting OneView. Though they were storing electronic versions of documents in SharePoint; uploading contracts, creating folders, and extracting information was carried out through a time-consuming manual process. The company turned to OneView for its ease-of-use and simple upload process. With OneView, Indigo can now easily upload unlimited contracts, quickly search for contracts by keyword, view key information at-a-glance, and get important alerts and notifications without having to open a single document.
Indigo and others have turned to OneView in large part due to its ease of implementation and low cost. “Typically, implementing a piece of software requires a big team, 2-3 years and millions of dollars. OneView requires none of that. We get our clients up and running in a matter of days with no disruption to their existing operations or technology stack,” says Faridy.