Empowerment through pro-active negotiation systems consultancy
Background
Lawpoint’s client develops and provides a SaaS platform to a client base of large, heavyweight financial services firms.
A high volume of client contracts were heavily negotiated by the clients, who often had a team of in-house lawyers.
Challenge
The COO was spending a lot of time fronting contract negotiations, coordinating responses as well as being the primary decision-maker.
The COO was frustrated with the time negotiations took out of their day. They felt they were the “bottleneck” to progressing the contract through to completion, which was a barrier to onboarding clients.
The volume was such that the COO did not have the budget or time to engage with a lawyer as much as they would have liked.
Solution
We gave the COO a toolkit to facilitate a risk-based system of managing contract negotiations, which involved escalation, delegation and a “cheat sheet” to aid decision-making.
A strategy was put in place to manage heavy redline markups from unpragmatic lawyers.
Lawpoint was on hand as second-line support to deal with the really thorny issues.
Results
The contract volume was filtered so that resources of the client business were directed according to risk.
The COO was the decision maker for only certain contractual matters on specific contracts.
The COO was no longer the single point of contact for all contractual issues. They were now supported by a team of stakeholders in the contract negotiation process.
The COO had more time and peace of mind that risk was being managed.
The company was empowered to adopt and follow a “policy” to manage negotiation “hotspots.”
Time was saved; external costs were saved.
Outcome
The Client became so empowered we didn’t hear from them for a year!
To find out how we can support your business in negotiating and navigating the contract process, get in touch today: tracey@law-point.co.uk or call 01202 729444.
