Consolidating Contracts Post-Acquisition
Consilio consolidated and reviewed a global telecom’s multilingual, legacy contracts post-acquisition to better track and analyze obligations and promises.
A large, global telecom had made a number of acquisitions as the industry consolidated. The organization found itself not just in possession of new companies, but of their contracts and the legacy systems which held them. In order to better track the obligations and promises across all legacy and future contracts, the organization opted to consolidate these critical documents into a centralized location. And as the organization lacked both the internal resources to conduct the review and the budget to have a firm do it, it turned to Consilio for help.
The client encountered its first hurdle in collecting its contracts for review. Complete contracts weren’t stored in their entirety; rather, they were a series of documents that weren’t clearly tied together. Additionally, many of the contracts were in mixed or foreign languages, making their links even less obvious to the legal team. Consilio enlisted its experts to reassemble the disparate documents into over 2,000 contracts across all of the languages, laying the foundation for a successful review.
With a firm grasp of the number of contracts and the languages required, the team turned its attention to solidifying the terms and clauses that required extraction—ensuring there was alignment with the fields captured in the company’s contract management system (CMS). The team embedded validation rules to ensure the contract review professionals would extract the 90 fields required. As the languages included non-Latin character sets, the team used Consilio’s own review technology as the platform as it could handle all of the languages needed.
To meet the team’s budget requirements, English-language contracts were reviewed in our review center in India; we then drew from our extensive reviewer network to select foreign language reviewers with the qualifications required to tackle the task in our U.K. offices.
The final deliverable included translations of clauses where appropriate into the default language used in the CMS to allow for easy searching. Although the final deliverable was in a customized format to enable easy upload into the client’s CMS, our team did the upload on behalf of the client. Consilio was able to review all of the client’s contracts within budget and time expectations. The level of service was so high, the client provided us with additional work immediately on the success of this project.