We help corporate teams untangle complexity to negotiate better deals, close on time and reduce legal spend.
Focused Management of Procurement Contract Separation
CHALLENGE Company A, a multi-billion dollar technology company, intended to sell one of its technologies called RADIANT. Company A had hundreds of vendors that were an integral part of completing a purchase of RADIANT. Once a buyer came to the table, Company A had obligations to separate, assign or complete certain contractual steps forward in order to transition all relevant vendors to the buyer. This was a huge and daunting task for Company A that would require a lot of time and resources, something which Company A did not have the bandwidth for. In the past, when Company A utilized a consulting firm to actualize a similar transition, some relationships with the vendors were jeopardized due to lack of sufficient communication and relationship management.
After an assessment and collaborative discussion with Company A, our personnel formulated a Dream Team, co-led by a Project Manager and Attorney to step in and handle the transition of the procurement contracts, in order for Company A to meet its obligations. The first step was to start collecting documents and organizing them in a virtual data room so that analysis of the contracts could begin. A comprehensive Playbook was then developed in collaboration with Company A, including how and when to use a "Soft Touch" approach. The full team was formed and the Playbook was executed.
OASIS Cycle® ensured all bases were covered proactively for maximum efficiency.
Enhanced relationships with vendors were achieved through Soft Touch quality communication,
The Dream Team adapted and provided solutions quickly when customizations were needed.
The Dream Team proactively identified issues before they became unmanageable.
Full transparency into project KPIs, milestones, gaps and issues was maintained and communicated to both buyer and seller throughout the process.
Company A obligations were not only met, but exceeded, in terms of time and level of effort.
All gaps and issues were identified and communicated in time for alternative decisions to be made.
Total support was provided, allowing Company A to relax, monitor progress and see an end in site.
The $2B sale of RADIANT closed successfully.
Buyer also hired our team to perform post-close contracts services.
“It's was a pleasure working with your team during the separation efforts. I wish all divestitures went as smoothly..." — Dun & Bradstreet
2000 Services Contracts Acquired in 8 Months
CHALLENGE Company A was negotiating a $2B managed services deal with its customer, Company B, and as a result needed to prepare to acquire a large number of supplier contracts from Company B. Company A had to “take over” the supplier contracts, but had no idea what terms were originally agreed to and what risks and obligations Company A would be taking on. Company A needed to understand the volume of contracts, the risks and exposures they entailed, and how substantially the contracts deviated from its own requirements and standards. This was a huge and daunting task that would require a lot of time. Furthermore, the legal and procurement department personnel were already overloaded with other work.
After some collaborative discussion with Company A, we formulated a team to step in and handle the transition of the procurement contracts and related documents. A plan was developed and tracked in order to make sure everything was covered in a timely manner. First, after a preliminary understanding of the strategies, policies and procedures of both Company A and Company B, the documents were organized and stored on a secured and encrypted data room. Incorporated into the plan were a review process, gap analysis, business analysis, risk assessment, priorities and disposition options. Templates and approval processes were created with an eye for simplicity and efficiency.
Over 2,000 supplier agreements were effectively transitioned to Company A in 9 months. Risks were minimized significantly due to the organized, focused review and analysis and the resulting ability to prioritize and close as many gaps as possible during the transition. Our team was also involved, from a procurement perspective, in the negotiation and closing of the managed services contract between Company A and Company B.. Company A personnel were able to participate in the transition but did not need to take time away from their full-time jobs to do so. Our involvement also gave Company A an “end in sight” and completion window, which allowed the business operations to move forward quickly, without the constant need to revisit transition activities.
“Intuitive Edge made our business transition so easy and efficient. They had all the answers to our legal questions and business contracts. They are professional and quick to respond throughout the process. You can't put a price on that kind of peace of mind." — CEO, DYNAMIC SYNERGY RESOURCES INC.
Optimizing a Contracts Portfolio
CHALLENGE A multi-national equipment manufacturer and services Company had accumulated numerous suppliers and did not have sufficient contract language to cover rigorous customer requirements, government regulations and its code of conduct leaving them wide open to risk and disputes.
Our personnel used a methodical and organized strategy as follows: thoroughly reviewed largest and most stringent customer agreements, identified gaps, developed improved supplier templates, established an enhanced vendor management questionnaire, obtained buy-in for new process and implemented change by including key personnel in the development of the new streamlined ways of working. Existing suppliers were brought into compliance through a streamlined contract process.
This project resulted in minimized risk exposure, ability to quickly locate documents and significant margin improvement by avoiding costs associated with slow-turn-around times, fines, disputes and insurance premiums.