A Case In Point: Drowning in paper, a financial services firm can’t see the forest for the trees
Client: A financial services firm
The challenge: The firm needed to provide legal documentation for one of its product lines and the use of an outside law firm was proving to be too costly. More importantly, there was no systematic way to find information when needed. Documents, in various stages of completion, were strewn across a large conference room and overflowing into a nearby small reception area. Trading staff, relationship managers, credit officers and law firm attorneys all wanted immediate answers to their questions, but it was difficult to readily locate any specific papers.
Client's goal: The client asked us to help bring the process and paperwork under control so that they could execute transaction agreements in a timely and cost-effective manner.
Our role: Many months of hard work later, we had created an established document management process, a consistent filing structure and an electronic tracking system.
The result: The firm’s employees could focus on drafting and negotiating agreements rather than looking for deal documents. Spending on outside legal fees was greatly reduced. Responsiveness to the firm’s dealmakers was enhanced.
