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.