Newco, a dynamic organization on the verge of independence from its parent company, faced a critical challenge. As the close date approached, Newco was confronted with the daunting prospect of losing access to a full procurement department. This impending transition created a substantial gap in their ability to effectively onboard new suppliers and manage critical procurement activities, including supplier onboarding administration and contract negotiation.
The challenge at hand was twofold. First, Newco needed a comprehensive procurement onboarding solution that could facilitate a smooth transition into independent operations starting from day one, the close date. Second, it was imperative to work toward separating from any Transition Services Agreements (TSAs) as swiftly as possible to regain full autonomy.
To address this critical challenge, Newco turned to the Intuitive Edge team, a trusted partner with a proven track record in transitioning procurement solutions. Here’s how we crafted a solution tailored to Newco’s needs:
- Streamlined Supplier Onboarding: We implemented our highly efficient Contract Optimization Platform and In2Insights dashboards. From document collection and compliance checks to setting up essential communication channels, we ensured a seamless experience for Newco and its suppliers.
- Swift Contract Negotiation: Our team of skilled attorneys worked closely with Newco to expedite contract negotiations. Our historical data analytics capability secured better deals for Newco.
- TSA Separation Strategy: We developed a clear and actionable plan to accelerate the separation from the TSAs. By aligning strategy and execution, we minimized disruptions and reduced associated costs.
- The results of our partnership with Newco were remarkable:
- Newco successfully transitioned into independent operations on the close date with minimal hiccups.
- Supplier relationships remained intact and were even strengthened due to efficient onboarding.
- Contract negotiation time was significantly reduced, leading to cost savings and quicker revenue realization.
- Newco swiftly separated from TSAs, gaining full control of its operations and reducing ongoing costs.
This case study shows how Intuitive Edge provided a tailored solution that not only addressed Newco’s immediate challenges but also set them up for long-term success in their journey to independence. Through our partnership, Newco confidently navigated an intricate transition, ensuring uninterrupted procurement and laying the foundation for sustained value.f