Contract Management as a Service Case Studies
Challenges:
Legal teams at capacity
A global biotech company had the challenge of:
- Managing high volume, low-risk, low value commercial contracts.
- Time pressures for internal legal team to focus on strategic work.
- Needing to migrate their legacy contracts into a CLM system but lacked the resource to do so within a limited timeframe.
Their legal function was at capacity and transformation was critical.
Solution:
A scalable managed legal service
Our team collaborated with the client to understand their needs and in turn, our flexible contract management as a service delivered:
- End-to-end contract review & negotiation
- Evolving playbooks
- A ‘legal front door’ to ensure delivery to SLAs
- Dynamic MI and reporting to facilitate strategic decision-making
- Data extraction and sanitisation for CLM migration
All while embedding quality, control, and consistency for the client.
Outcome:
Cost-effective solution benefiting the client by:
- Remaining self-sufficient and requiring internal escalation by exception only
- 100% SLA adherence on contract review delivery
- Concluding most contracts with minimal deviation
- Continuously negotiating contracts toward lower-risk outcomes
- Maintaining internal playbooks capturing standard positions and pre-approved fall-back provisions
All reinforcing alignment with the client’s risk and compliance requirements.
Transforming legal operations for a digital bank
Challenges:
From complexity to clarity
An established South African financial services and insurance company needed expert legal support in the lead to the launch of its new digital banking platform and on an on-going basis thereafter. Challenges included:
- Navigating a complex regulatory landscape.
- Limited insights into their commercial contracting needs or volumes.
- Needing CLM implementation and contract negotiation support.
Solution:
A tailored, end-to-end solution.
Cognia delivered a multi-pronged CMaaS solution:
- Implemented CogniaXceed to manage request intake, track negotiations and gather valuable MI.
- Supported CLM tool implementation with template design & advice.
- Provided end-to-end commercial contract review & negotiation.
Outcome:
Giving the client’s contract management journey a strong start
Through strong collaboration, smart workflows, and a sophisticated use of technology, Cognia was able to ease the client’s transition into more structured contract management, helping to lay the foundations for long-term success in how they govern and oversee their commercial contracts.
