How did you manage your contracts?

Companies of all sizes have a challenge in properly managing different (forms of) contracts. Contracts are agreements and are therefore at the heart of an organization; they arrange relationships, obligations towards customers and employees. In addition, they have a direct impact on a company’s profitability and risk profile and must be drafted, negotiated and managed. Through the right combination of people, process optimization and supported by technology, HVG Law can support you worldwide with contract management solutions.

 

Why Contracting Solutions at HVG Law?

With our Contracting Solutions we can help you with the following activities:

• Digital due diligence. HVG Law works with advanced can standardize the processing of contracts and risk assessment, can be involved in the approval of transactions and can carry out risk assessments and due diligence investigations by third parties.

• Contract Lifecycle Management. Contract Lifecycle Management (CLM) is basically the management of a company’s contracts, from drafting to execution, performance, and renewal/termination. Companies can better manage this complex process by using a contract lifecycle management system. CLM systems can lead to significant improvements in cost savings and efficiency. Through our strategic cooperation, we are able to select and implement the right CLM provider.

• Smart digitization, management and storage of contracts. Wherever your contract is stored, we have the right technology and people to track down the contracts, extract clauses and hang them in a digital library, giving you a 24/7 understanding of your contractual rights and obligations.

• Drafting contracts. the creation of templates and clauses, the drafting of complete contracts, the preparation of initial content and the review process of templates for third-party contracts.

• Repapering. In the event of legislative changes (IBOR, Schrems II), many contracts have to be adjusted. But there may also be changes internally, which means that the large-scale adjustment of legal documents is necessary.

Examples where clients have used our services:

• Voorbeelden
  • Advising on CLM systems and strategy; by carrying out a ‘discovery phase’ we were able to help the client with the efficient writing out of an RFP.
  • In the area of contract management, the average time for a banking client to review more than 9,000 contracts could be significantly reduced. A global reporting workstream was set up to map out the regulatory requirements in the future and a total of several hundred million euros were saved.