The recent solvency and credit crisis resulting in $85B in government secured loans at AIG has affected valuations on Wall Street, brought skepticism to Main Street, and threatened to undermine the insurability of tens of thousands of AIG’s customers. For one AIG-insured Document Locator customer, however, the debacle raised immediate concerns that the fallout could leave them in violation of major environmental consulting contracts resulting from AIG’s diminishing credit rating.
To ensure they remained in compliance with their contractual obligations, the executive team ordered a comprehensive legal review of their largest contracts. The request for the contracts was fulfilled by a corporate paralegal using Document Locator. With the metadata attributes consistently applied to their documents, isolating the contract documents for their larger clients was straightforward. The paralegal retrieved and distributed the contract documents before the conversation among upper management who were requesting the documents had even concluded.
The company’s primary Document Locator user says that requests like this were significant challenges for them in the past before implementing document management. This was just another example of how their organization benefits daily from utilizing Document Locator.