Introduction

Rentomojo is an asset leasing platform offering furniture and appliances to consumers. They needed a CLM to automate contract management.

They also needed to issue physical notices to all its vendors regarding changes in the entity details. This required accurate extraction of vendor addresses from over 500 legacy contracts, which would have otherwise taken weeks of manual effort. HyperStart automated this process through AI-driven contract data extraction, saving the team countless hours while keeping data accurate and consistent.

AI-extraction

Accurate extraction of multiple data points (including but not limited to name and address of the counterparties, effective and expiry date of the agreements, jurisdiction, nature of termination and renewal clauses, and likewise)

Primary Users

Legal Team

Procurement Team

Manpower Team

Operations Team

Retail and Warehouse Expansion Team

Challenges Faced

The legal team of Rentomojo faced the challenge of managing and tracking around 1000 contracts manually, which were stored across multiple platforms, systems, and locations. This was impractical for time-sensitive contracts that needed multi-party approvals. Key challenges included:

Manual review for 500+ contracts every year

High risk of losing track of contracts once they are sent to a different team or party for their review

Time-sensitive processes

Lack of centralized visibility into contract metadata

Solution Implementation

Before HyperStart, contract TAT at every stage of the contract lifecycle was manual. With the AI Metadata Extraction module, data fields like name and address of the counterparties, effective and expiry date of the agreements, jurisdiction, nature of termination and renewal clauses, and likewise were systematically identified, validated, and compiled into a structured export file within hours.

The switch has:

Created a single source of truth: They imported all existing contracts into one digital, secure, accessible cloud-based repository. They can easily AI-search and locate contracts in seconds without the usual hunt.

Left no obligation to chance: The most striking breakthrough was in automating metadata extraction for key metadata across a batch of around 1000 contracts. They now validate and export extracted data in a compliance-ready format.

Impacted key business teams: Nothing validates the success of a CLM more than cross-departmental adoption. The superior user experience makes it easy to understand, adopt, and use for legal, logistics & manpower, and marketing teams.

Accelerated contract execution: They now close deals much faster with streamlined approval workflow templates. Legal and other teams are empowered to focus on negotiating complex deals and contributing to other business goals.

Delivered value in contract TAT: Every step from contract creation to closure can be tracked and optimized. The ‘InFlight’ dashboard gives insight into action items and metrics to get deals moving faster, making the legal team more productive.

Future Plans

If required, Rentomojo may extend Hyperstart’s automation capabilities to bulk initiate addenda across existing and new vendor contracts aligned with the change in entity credentials. This will further streamline the contract lifecycle process so that agreements are updated efficiently and consistently.

Final Thoughts

Rentomojo’s collaboration with HyperStart exemplifies how AI can transform manual legal and compliance operations into efficient, automated workflows, ensuring precision, scalability, and audit-readiness at every stage.

HyperStart is determined to go beyond problem-solving to capture value at scale. Our team of engineers will continue working closely with their team to make this happen at every turn.