Solidatus

Increasing Solidatus' speed to contract by 35% with CaaS AI
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35%
Increase in their speed to contract
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75%
Increase in stakeholder satisfaction

Introduction

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.

With CaaS AI plus our Ask Legal, Sign & Store and Legal Ops bolt-ons, 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. 

CaaS AI

CaaS AI is TLB’s AI-powered contract review and negotiation offering. We couple cutting edge Artificial Intelligence with our human expertise to deliver speedy, accurate and cost-effective contract management support, end-to-end whilst in parallel optimising teams’ legal operations for long-term added value. 

Step 1: Discovery

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 help separate meetings to explore their tech stack and a dedicated meeting with their Sales team given the strategic importance of the service to Sales.

Step 2: Set-up

Playbooks 

Following Discovery, we tailored our TLB Standard Playbook to suit the Insurance 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 recommend 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.

Ask Legal

We were set up on Solidatus’ systems to be on hand for Sales as needed to answer contract queries on an ongoing basis, providing them with the comfort they needed to get their deals over the line.

Step 3: Delivery

Contract Management 

We began delivering contract reviews from day 1, turning contracts around on a 1-3 day SLA basis, leveraging our AI system to glean valuable insights from our reviews we fed back to Solidatus to optimise their negotiations further.

Contract Repository

Having opted for our Sign & Store bolt-on, we built Solidatus a brand new contract repository in which to store their contracts. We then managed this on an ongoing basis for them, ensuring 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.

Reporting 

We provided Solidatus with weekly WIP reports accompanied by a weekly check-in meeting with Sales, to provide them with complete visibility over where customer contracts are sitting and actions that need to be taken to get them over a line. 

On a quarterly basis, we delivered our Quarterly Optimisation Reports, full of recommendations to improve their contracting processes further, and managed any revisions to Solidatus’ templates needed based on data gathered from our AI system accompanying playbooks.

The Outcome 

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.

A Contracting Bolt-on To Your Business

Our CaaS solution pairs AI software with our expert team to process, negotiate and manage routine contracts with simplicity and speed.
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