What was the challenge?
Our client is one of the world’s leading financial software companies and provides banking, treasury, trading and risk solutions to a client base of over 1,800 customers in 120 countries.
Recent mergers resulted in a substantial increase in our client’s book of business and therefore, a project was contrived to gain a clearer understanding of the contents of primary contracts within their extended database.
2,375 international contracts were selected by our client for review, to evaluate the embedded commitments and risks associated with the influx of indentures. The specific objectives of the review included:
- Assessing contract compliance to current policies and commercial guidelines
- Delivering consolidated information to support the customer services team to understand corporate liabilities
- Providing comprehensive reports to the Finance team to understand future revenue potential/risk
Contract Review Projects had proven difficult to deliver previously due to an inability to identify an appropriately consistent method of gathering salient information from highly complex contracts, whilst avoiding the costs of utilising an experienced lawyers time.
What did B2E do?
B2E Consulting delivered a blended team of 20 professionals, each with extensive law experience, to design and develop an online tool (ANYO) to efficiently guide the contract review process and collect the acquired data into a central database. The team was tailored to the very particular needs of our client and was comprised of 12 law graduates, 4 experienced lawyers and 3 specialist language lawyers, all directed by a highly experienced B2E Consulting Principal.
Each contract was rigorously assessed by ANYO and all collated data was subsequently reviewed by the project team to ensure that it had been procured in an accurate and consistent manner.
What was the outcome?
B2E successfully reviewed all assigned contracts in conformity with the demands of our client and the innovation underpinning the creation and application of ANYO was cited as a fundamental component to the success of the entire management process.
After the completion of the project, a sampling of the review data was undertaken by our client’s internal management team and their appraisal confirmed that the B2E solutions results had been obtained consistently and were of the highest quality standard.