Funding Circle
Our Role:
Funding Circle speeds up their contract negotiation cycle with Contract Playbooks.
25%
Increase in deal speed.
Risk reduction by creating a consistent contractual landscape.
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Project Summary
TLB created contract playbooks to ensure consistent and efficient negotiations for a scaling business.
Playbooks established standard positions, negotiability status, and fallback positions.
Resulted in time savings, shared risks, and equipped Legal team members for negotiations.
Collaborated with Funding Circle to tailor a playbook for third-party supplier contracts.
The Challenge
As the business charged ahead with ambitious growth, it grappled with a hefty load of legal tasks, resulting in a mountain of contracts to handle. While rapid expansion was in full swing, there was a looming concern that the negotiation of contracts might lack the desired uniformity. The situation became even trickier as the team operated at a fast clip, making knowledge-sharing a bit of a puzzle. Negotiating agreements, especially when essential preferences hadn't been documented, ended up consuming precious time that could otherwise have been directed towards the company's thriving growth trajectory.
Amidst rapid growth, the business faced a substantial load of legal tasks, resulting in a significant volume of contracts.
Concerns emerged about inconsistent contract negotiation, compounded by fast-paced operations and undocumented preferences, consuming valuable time.
The Outcome
Faster negotiations, a consistent contractual landscape and a happy business.
The most valuable commodity to any lawyer is time, and the multi-disciplined team at TLB helped us identify the time we were spending inefficiently and provided us with smart and accessible solutions to give that time back to us. Like most legal functions, our working methods haven't evolved at the same pace as the business we support, so our work with The Law Boutique has been a timely exercise in reconfiguring how we manage workflow, how we negotiate contracts consistently, and how we store and share our knowledge.
Rob Kerrigan
Head of Legal and Regulatory Affairs
