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Solidatus is an award-winning data lineage solution, working with some of the largest financial institutions in the world to provide them with Intelligent data management and visualisation. With no dedicated legal team and many significant and strategically important customer contracts to review and negotiate, Solidatus was in need of dedicated, pragmatic on-hand support for its Sales team. What’s more, with ambitious growth targets, Solidatus recognised the need to optimise its contract operations to maximise its speed to contract and revenue generation for the business.
We took on Solidatus’ customer and supplier contract management and operations end-to-end, operating as an outsourced but highly integrated and efficient contract management function.
We kicked off with a detailed Discovery workshop to understand more about Solidatus as a company, its contract landscape, pain points, risk positions and objectives from a legal perspective. We held separate meetings to explore their tech stack and a dedicated meeting with their Sales team given the strategic importance of contract efficiency to Sales.
Playbooks
Following Discovery, we tailored our TLB Standard Playbook to suit the company's preferred positions, complete with fallback positions, risk threshold matrix and approvals matrix. We also began work on developing bespoke playbooks for their NDA, MSA and Partnership Agreements to empower Sales as far as possible in customer contract negotiations.
Templates
We recommended template improvements across the board, to minimise friction in the negotiation process and cut negotiation timelines. We then redesigned all of their key agreements in line with our recommendations, to resoundingly positive feedback from the Sales team.
Contract Repository
We built Solidatus a brand new contract repository in which to store their contracts on Sharepoint. We built bespoke alerts to ensure Sales never missed a supplier or customer renewal again.
Knowledge Hub
We also built a dedicated knowledge hub for Sales and provided them with extensive training on playbooks and other artefacts, empowering them to self-serve and lead negotiations within predefined risk parameters.
By partnering with TLB, Solidatus saw a 35% increase in their speed to contract and a 75% increase in stakeholder satisfaction, as Sales had the tools and support it needed to get their deals done and continue accelerating business growth.