Contract Management Solution
Contract Management Solution
Our Contract Management Solution is an innovative, integrated service delivery model designed to manage high volumes of low- and medium-complexity commercial contracts. Already in use with clients, it offers the highest quality and cost-efficiency, as well as powerful insights derived from data analytics to generate savings and anticipate trends.
Leveraging customized technology tools, a global legal process outsourcing provider, and a model tested and enhanced by real-world application with our clients, this solution is designed to take on the burden of reviewing, negotiating and drafting commercial agreements while maintaining transparency, quality control and consistency in the business’s contractual relationships, enabling in-house legal teams to be redeployed to focus on matters more strategic to the business.
HOW IT WORKS
McCarthy Tétrault reviews the relevant commercial documents and upgrades them as needed to create a set of standard templates. We then develop a Playbook which provides alternate positions acceptable to you that deviate from your standard form templates.
The contracts may be negotiated by you, or our preferred legal process out-sourcing company, depending on your preference. These contracts and Playbook become the basis for our legal process outsourcing company to review, revise, amend and renew.
Any exceptions from the Playbook are reviewed and quality controlled by McCarthy Tétrault. Likewise, McCarthy Tétrault will undertake a final review of all contracts.
The templates, work in process and final agreements are all uploaded into a central repository that tracks progress and contract lifecycle.
How Clients Benefit
- Increased in-house capacity: Allows in-house legal resources to be re-deployed to higher value, strategic tasks.
- Improved results / compelling pricing: Employs a rigorous process, and thereby enables a consistent, high quality work product through development of a customized Playbook for drafting and negotiating, with exceptions automatically subjected to a higher degree of quality control – all priced significantly lower than standard hourly rates.
- Contract lifecycle management: Uses secure, cloud-based technology to drive better contract portfolio management by tracking the lifecycle of contracts and reporting on status – whether they are in negotiation, closed, subject to rate changes, approaching expiration or renewal, in dispute, etc.
- Data analytics to drive revenue: Technology tools provide actionable data to track commercial contract areas (e.g.: identifying revenue leakage or maverick spend), deviation from contracting norms (e.g.: identifying variance in key contracting provisions), and the lifecycle of contractual provisions (e.g.: identifying which terms are most frequently disputed) to enable continuous contract improvement – both contractually
and financially. We help clients reposition their internal legal function as an innovator and revenue-generator, rather than as a cost centre.
Dialogue Project Management®
→ Read more
→ View areas of expertise
Transactions & Cases
→ View transactions & cases