BetVictor places the winning bet on Contract Management with Medius

BetVictor, a market leading bookmaker, and online gaming organization, was looking to improve its contract management process. After a rigorous selection process, the firm decided to use Contract Management software from Medius..

In their initial brief, any solution had to be a cloud-based, always on solution and accessible from anywhere on any device. In addition, the bookmaker expected any contract management solution to reduce their paper footprint.

In this case study, we’ll detail how we helped BetVictor achieve its goals and break down how the implementation of Medius Contract Management has transformed its contract management process.

Facts & Figures: 

  • Name: BetVictor Ltd. 
  • Gross Revenue: $1.25 Billion
  • Industry: Sports betting and online casinos

Moving away from excel, desk drawers and other disparate sources

BetVictor needed a contract management solution for their rapidly expanding business. The organization has hundreds of suppliers on its books and, given the nature of the industry, each comes with a complex set of affiliated paperwork.

Headquartered in Gibraltar - with offices all over the world - and with customers in 160 countries, BetVictor needed a centralized contract management solution to allow its team to access those contracts in a single secure environment, on any device from anywhere in the world. Gambling is a highly regulated industry, so any solution provided needed to be compliant with all the appropriate standards and protocols. In addition, BetVictor understood that valuable time their procurement team were using to process paperbased supplier-related activities was being wasted, and so, any contract management tool they considered needed to automate significant parts of the strategic sourcing process.

Luke Howliston, Director of Business Process and Procurement at BetVictor details the betting firm’s contract management process prior to engaging with Medius. He says: “Before we started working with Medius, much of our contract management centered around using Excel documents, paper-based filing, shared drives and other decentralized sources. “It made it really challenging to approach supplier management in a centralized manner, with departments setting up relationships with their own suppliers.”

Finally, BetVictor sought a solution capable of transforming their approvals process. Luke explains: “Approvals were a lengthy process at BetVictor before we worked with Medius. We had a paper-based approval system, which involved printing a stakeholder approval form, and getting four or five signatures before presenting the completed approval form to the CEO for execution. These documents were then digitally scanned and placed on a local shared drive for archiving.”

Before requesting pitches from eProcurement software providers, Luke did some initial analysis into BetVictor’s contract management activities, he found:

  • They had several hundred suppliers
  • Over 400 live contracts
  • Processing between 20 – 40 contract documents every month
  • A paper-based approval system

Streamline contract management, once and for all

BetVictor invited several organizations to pitch for the opportunity to implement contract management software. But it wasn’t until Luke and team saw Medius that things started to fall into place.

Howliston recalls: “I was really impressed with Medius’ pitch. It made the most sense, but more than anything, it was the personable people that presented to us that made the difference. I could tell – immediately - that Medius is the type of organization that prioritizes customer issues and concerns.”

Nonetheless, BetVictor continued to follow an exhaustive evaluation process and found the case for Medius strengthening at every turn, including glowing customer references. In the final analysis it was a simple decision and Medius got to work, implementing Medius Contract Management in just 12 weeks.

Comprehensive document controls and best-in-class approvals

BetVictor’s contract management process transformation has been dramatic, with the digitization of supplier contracts saving time, effort and money when dealing with supplier negotiations. Luke explains: “Since we took on Medius Contract Management, the change in approach we took for procurement has been dramatic. Instead of relying on our old paper-based system, all our supplier contracts are stored in one single, cloud-based repository.” He adds: “This allows us to store key contracts in a secure location, accessible from any location, saving us huge amounts of time versus manually entering contract data into an excel spreadsheet. Now this is all done automatically, in the cloud, and is accessible through a single sign-on portal.”

Medius has also improved BetVictor’s visibility of its contract management process. Automated alerts are sent to key stakeholders in the procurement team when a contract is due to be renewed, empowering Luke and his team with opportunities to negotiate better priced renewals with new or existing vendors - saving vital cash.

DocuSign integration has also been pivotal in helping streamline BetVictor’s sign-off process. Instead of having to ferry one piece of paper around five people in the business, the entire procedure has been digitized, allowing them to sign contracts from any device of their choice.

Overall, Medius has changed the BetVictor procurement team’s relationship with the rest of the organization for the better. Howliston explains: “Besides the reduction in resource requirement for contract management, we can also add value through engaging with the business more frequently to deliver value from the supply chain. The painless nature of the system and process drives advocacy around the business, and we are highly regarded as a business partner department.”

Why BetVictor chose Medius

Modular Flexible Approach

BetVictor chose Medius because of the modular nature of it’s solution. According to Luke, “What really appealed to us, is that it was made clear in the initial pitch that we could take as much or as little as we liked. This really helped us choose Medius, as we wanted to ascertain whether it would work for BetVictor or not, before pushing on with a wider overhaul of other procurement processes.”

Compliance is Key

Another key reason behind BetVictor’s decision to choose Medius is because of their alignment to key regulatory issues. Part of Luke’s role at BetVictor is to ensure the bookmaker is compliant with data protection regulations, such as GDPR. He explains: “The gaming industry is tightly regulated, and in any partner, we chose to work with, compliance with regulations such as GDPR is essential. “Medius demonstrated a clear understanding of the nuances of GDPR, and their compliance with standards such as ISO27001, ISO9001 and Sarbanes Oxley reassures me that any information we choose to store with Medius remains secure and confidential.”

Remote Implementation

Luke also praises Medius’ approach to the implementation. As a cloud solution, there’s no requirement for an on-site presence during implementation, making implementation into an overseas destination like Gibraltar simple. Following an initial workshop, the implementation team held regular calls with Luke’s team, flying in only after implementation to ensure the on-boarding and training process ran smoothly. James Fox, Account Manager at Medius, detailed the approach he and the team took when managing activities on behalf of Luke and BetVictor: “Wherever in the world our clients are based, implementation success is simply a matter of regular communications. With standing phone meetings, daily email communications, and site visits just for key phases of the implementation process we can deliver anywhere.”

Talking about future projects

BetVictor’s relationship with Medius continues to develop with future projects in the pipeline as James Fox explains: “Medius is a modular solution, capable of coming in as little or as much as you need. Now Medius Contract Management has had been embedded within BetVictor, we’ve begun discussions around implementing Medius Source to Pay.”

When asked about the nature of his relationship with Medius, Luke had this to say: “I’ve got a great relationship with the team at Medius. They really put customer satisfaction at the heart of everything they do. In fact, I recently contacted a senior manager at Medius, to praise of their staff for being a great ambassador for the company and a genuine pleasure to work with.

Howliston adds: “I have no qualms recommending Medius to third parties.”