Contracts Management

Contracts are the life-blood of a business - an average Fortune 2000 company has tens of thousands of active contracts.  Many struggle to manage contract performance across geographically dispersed locations, fragmented databases and a combination of stakeholders with varying needs.  Conventional strategies of managing contracts have led to regulatory penalties, missed deadlines, missed benefits, maverick pricing and transaction errors.  Our contracting solutions help you manage contract risk, close more deals, improve decision-making using accurate contract data and reduce costs.

Contract Drafting and Negotiating

Are you overwhelmed by negotiating high volume, routine contracts? Are you suffering delays when it comes to more important, higher value contracts? Our specialized teams implement a framework to efficiently prepare drafts, address third party paper and negotiate those high volume contracts with reduced negotiation cycles.

Contract Risk and Obligation Management

Critical decisions made by your business and risk-management teams depend on information residing in executed contracts. Fragmented databases, lack of governance and inadequate use of technology makes it nearly impossible to manage contract data. Our contract abstraction and risk management solutions streamline and create a single source of truth for all contract metadata. With a centralized contract portfolio, our review processes and analytics provide clients with immediate access and granular visibility to contract information. Our clients turn agreements into intelligent corporate assets to analyze revenue and expenditure, simplify compliance and reduce risk.

Template Standardization and Clause Libraries

Decentralized contracting practices and use of too many templates increase contract risk and potential liability. We standardize templates and create clause libraries to promote consistency and drive automated generation of contracts. Our methodology combines analytics and expertise to identify standards, recommend clause improvements, eliminate siloed practices and implement a reliable approach to managing risk.

Playbooks and Workflow Documentation

In the daily grind of managing contracts, a solid playbook is essential to ensure that your organization is operating efficiently. Mindcrest has a proprietary eight step process to create comprehensive playbooks. The playbooks provide legal and business explanations for all contractual terms, define pre-established fallback positions and outline clear escalation protocols. Our experts help clients monitor playbook usage and suggest workflow improvements to implement an efficient and collaborative negotiation strategy across your organization.

Due Diligence Review

Do you have enough resources to tackle due diligence reviews? Are you paying high hourly fees for unconsummated deals? Our Managed Services approach provides dedicated teams with seasoned attorneys and due diligence experts. We remediate contracts and customer files, conduct due diligence for mergers, ring-fencing and spin-offs. What you get is a customized program that allows you to close more deals with increased efficiency, greater insight and lower costs.

M&A Integration

Are you able to administer integration projects with the right level of resources and skills? Is your integration team struggling to manage business and project demands in a timely manner? Our Managed Services model supports the end-to-end execution on M&A integration plans, minimizing any disruption to business.  We leverage pre-closing diligence information to analyze assumed legal arrangements and effectively review, negotiate and migrate contracts into new systems of record.  We utilize technology and implement strong processes to make integration management more efficient and maximize ROI.

CLM Assessment and Roadmapping

Our experts assess the existing state of your Contract Lifecycle Management (CLM) processes and business requirements against our maturity assessment model. We evaluate your contract workflows against recognized issues and industry best practices to identify shortcomings and opportunities for improvement. Our roadmaps are explicitly designed to accelerate implementation and promote higher adoption of CLM practices.

• Testing, Functionality and Selection
• Repository, Search and Reporting
• Helpdesk and Process Improvement
• Document Assembly Customization by Contract Type

Capabilities

CUSTOMIZED SOLUTIONS


We understand that you face unique problems. Our advisory teams are led by Subject Matter Experts with deep knowledge of your business and its unique challenges. We will engage with you to help define your requirements and design a customized solution by incorporating best practices, appropriate technology and innovative processes. As your strategic partner, we will be a trusted extension of your business and create solutions that deliver measurable outcomes.

PROJECT MANAGEMENT


People, processes and technology require active management. The Mindcrest Managed Services model ensures delivery of high quality results in a professional, timely, and efficient manner based on KPIs and SLAs. Our team of experienced project managers are trained to anticipate and mitigate risks and ensure collaboration with our clients through effective escalation and communication protocols. Our project management capability strengthens our strategic client partnerships.

TECHNOLOGY


The future of law is enabled by technology. Our solutions are embedded with workflow, analytics, and artificial intelligence (AI) software. Our project teams have hands-on experience with all leading applications and platforms in the market. We can work with your preferred applications or assess and recommend the right technology for you. Mindcrest invests in the continuous evaluation of new technologies like machine learning, advanced analytics and automation tools.

TALENT


Our people are our most valuable assets. Mindcrest places great emphasis on attracting and developing the best talent. Our diverse, globally distributed teams are focused on delivering high quality results to you. We drive value to our clients by bringing teams of experienced legal and business professionals, analytics experts, and technology specialists. Our culture of continuous learning empowers our people to innovate and succeed.