A software company without in-house capacity needed a cost-effective way to review and negotiate a large volume of customer contracts from its business units.
They also wanted an experienced partner who could apply contract management best practices.
The company quickly moved the work from outside counsel to Lumen’s Commercial Contracts group at a quarterly fixed fee which generated significant cost savings.
A national software company with multiple offices was drowning in Non-Disclosure Agreements, Master Service Agreements, Statements of Work and Licensing Agreements. Because the fast growth company lacked in-house capacity, the work was being done by outside counsel. The company wanted a high-quality solution with solid processes and negotiating playbooks, quicker response times, custom reporting and cost certainty.
Lumen met with the company to understand contract types involved, volume and how the work was currently getting done.
Next, our Commercial Contracts group recommended important process improvements and developed the negotiating playbook for all contract types.
In addition, SLA’s, reporting and meeting frequency were mutually agreed upon at the outset.
Our team quickly absorbed the work to the delight of the in-house legal team and business units.