Following case study reflects our value proposition and success factors with one of our key customers:
About Client:
Our client, together with subsidiary, one of the largest conglomerate of the nation, is a global provider of managed communications services to multi-national enterprises and service providers. Its global infrastructure includes subsea and terrestrial communications networks, a global Tier-1 network, and collocation and data centers.
The company is headquartered in Mumbai and Singapore, it has more than 8,000 employees across 38 countries. The $3.2 billion company is listed on the Bombay Stock Exchange and the National Stock Exchange of India
Project Summary:
Challenge – Our client’s department is responsible for its global procurement requirements. The high volume of routine contracts and the time to draft/customize, negotiate, coordinate amongst the gamut of internal stakeholder, periodic reporting with dire need to work towards streamlining of process were few things client was constantly being challenged for. This deficiency in the process was taxing our client with delayed execution of contracts, lesser ability to work on risk analysis, management of contracts and less favorable ICSAT score and more.
MM Solution – MM proposed phase wise solution to the client. In initial phase, MM on-site resource got thoroughly introduced into the system to gauge the gap in the process and documentation, while keeping the continuity of ongoing request as prime deliverable. In subsequent phases MM solution team created a team of contract managers for the client. Worked towards and accomplished continuous support for ongoing requirements, assisted in standardization of templates, stream lined process, and better turn-around time of request
- A dedicated team of highly skilled and trained attorney was appointed while client’s team had full control and visibility of the work without having to spend time on routine tasks;
- On behalf of Client, MM team negotiated procurement contracts with vendors thus, saving time and effort of client’s team to devote their work on core job;
- MM team coordinated with all stakeholders to ensure compliance of internal policies & guidelines;
- MM was responsible for drafting, reviewing and red-lining on contracts;
- Suggested changes to existing standard templates;
- Submitted proposals for creating new contract templates based on category subject matter client dealt with;
- Streamlined contracts review process forming part of overall procurement process
- Reducing the time in contract execution by thirty percent (30%)
Impact:
- Quality work: Our internal process focused in delivery of Quality Product both at the process level and at the review level
- Extended Hours Support for Priority matters: MM committed to work for extended hours for priority matters to ensure client’s urgent requirements are met
- Considerable cost savings by engaging MM versus investing in their in-house team to deliver same set of services
- Efficiency Gains: Appointment of SME’s in the subject area of Client’s operations ensured prompt response and team’s ability to assess the gaps in clients process & introduction of best practices to the existing process helped streamline the process which lead to more efficiency
Conclusion:
Due to implementation of tested-tried-successful and robust process by MM, Client now has better and increased run rate to complete contractual responsibilities. This is coupled with getting detailed visibility to study and evaluate risks and liabilities that may be associated with them. Client is extremely pleased with the quality and accuracy of the work product. Client engaged MM to support drafting and negotiation processes resulting from new & existing vendors. Client’s decision to engage MM has now given them wider working window to fulfill their other obligations and core job while MM takes complete responsibility to review & execute contracts including review of higher dollar value contracts and contracts with strategic implications.
