Focused Management of Procurement Contract Separation

CHALLENGE

Company A, a multi-billion dollar technology company, intended to sell one of its technologies called RADIANT. Company A had hundreds of vendors that were an integral part of completing a purchase of RADIANT. Once a buyer came to the table, Company A had obligations to separate, assign or complete certain contractual steps forward in order to transition all relevant vendors to the buyer. This was a huge and daunting task for Company A that would require a lot of time and resources, something which Company A did not have the bandwidth for. In the past, when Company A utilized a consulting firm to actualize a similar transition, some relationships with the vendors were jeopardized due to lack of sufficient communication and relationship management.

SOLUTION

After an assessment and collaborative discussion with Company A, our personnel formulated a Dream Team, co-led by a Project Manager and Attorney to step in and handle the transition of the procurement contracts, in order for Company A to meet its obligations.  The first step was to start collecting documents and organizing them in a virtual data room so that analysis of the contracts could begin.   A comprehensive Playbook was then developed in collaboration with Company A, including how and when to use a “Soft Touch” approach.  The full team was formed and the Playbook was executed.

• OASIS Cycle® ensured all bases were covered proactively for maximum efficiency.
• Enhanced relationships with vendors were achieved through Soft Touch quality communication,
• The Dream Team adapted and provided solutions quickly when customizations were needed.
• The Dream Team proactively identified issues before they became unmanageable.
• Full transparency into project KPIs, milestones, gaps and issues was maintained and communicated to both buyer and seller  throughout the process.

RESULT

• Company A obligations were not only met, but exceeded, in terms of time and level of effort.
• All gaps and issues were identified and communicated in time for alternative decisions to be made.
• Total support was provided, allowing Company A to relax, monitor progress and see an end in site.
• The $2B sale of RADIANT closed successfully.
• Buyer also hired our team to perform post-close contracts services.