Virtually every Dollar, Euro, Pound, or Yuan spent or earned by any company flows through some form of commercial contract and the typical law department has 50% or more of the team engaged in contracting. However, the process tends to be highly inefficient, with the International Association for Contract and Commercial Management reporting that the average company suffers contract value leakage equal to 9.2% of revenue each year. At the same time, many legal teams struggle to meet the needs of their internal customers in sales and procurement, as well as other business functions, to turn around contracts quickly enough.
The BCLP Cubed solution
We have developed a standardized, scalable solution to generating contracts which lays the foundation for effective contract management. It utilizes best practice templates and playbooks developed by our leading US commercial contracts team, who also support those more complex or high value contracts that require expert attention. In addition, our legal operations team supports you to ensure our solution integrates with your business processes.
Initially the platform has been created to support U.S. commercial agreements of all types. This includes: software-as-a-service agreements; software licenses; service agreements; and product agreements. If required, BCLP Cubed can start handling your work in these areas within weeks and is able to deliver a wide range of other U.S. contract types, as well as bespoke templates, effectively plugging into your contracts pipeline to facilitate their review, negotiation and execution in a way that helps you achieve your business’s broader goals and strategies.
We are also actively engaging with companies around the world who are grappling with procurement, sales, and data privacy agreements, or post-signature contract management issues.
The benefits for you
- We provide a more robust, systematic and controlled approach to managing your contracts.
- Our approach delivers 3 powerful benefits:
- Reduces your costs and improves the quality of your contracts
- Accelerates transaction cycle times and allows you to efficiently handle spikes in contracting volume
- Improves compliance with relevant laws and regulations and company policies