Fast Growth Company Partners with Lumen For Commercial Contracts Outsourcing

Project Highlights

  • 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.

The Scenario:

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.

Our Solution:

  • 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.

Outcome

The Lumen solution allowed the client to keep up with ongoing contracts work without having to expand their in-house capacity.  They also gained higher quality, quicker response, better reporting and the cost certainty associated with a quarterly fixed fee.