Delivery of a GDPR Compliant contract management and execution service
A British multinational financial services and insurance company headquartered in London, founded the 19th century to provide loans to professional and working people. The client has 20 million life customers.
It has a major business in Asia across 14 markets in Asia. Its US operations is one of the largest life insurance providers in the United States.
To design and deliver a contract management and execution service for all external 3rd party supplier contracts to enable them to be GDPR compliant.
We worked with existing client procurement teams, legal counsel and their appointed external legal support to agree the relevant GDPR clauses and articles into the new contracts. All contract amendments were needed to be negotiated and agreed with suppliers and all drafted in conjunction with legal to ensure full compliance. There were over five thousand contacts involved with a similar number of associated suppliers.
To deliver such a large contract management project over a 9 month period, we adopted a “contact Management factory” approach to the execution element of this program. This team was comprised of a mixture of contract managers and para-legal resources who were working on a daily basis with the clients “in house” teams for decision support and query escalation.
For such a rapid delivery program we had to adopt a strict QA governance structure to ensure that quality standards and all admin tasks were completed on a daily basis. We also had a very defined and transparent process which was agreed with the client, at the start of the project supported by daily reporting. For the QA activities, we adopted a “four eyes” approach for the daily document review to ensure accuracy was maintained during a fast-moving program scenario.
The program was completed on time and within the agreed budget. Throughout the program we reviewed and amended all of the required supplier contracts to the satisfaction of the clients’ team.
We negotiated over 1000 contracts with over 800 suppliers and all suppliers were contacted, contracts negotiated and amended to meet the GDPR requirements.
At the end of the program, we completed a full handover and satisfactory knowledge transfer to the BAU team for ongoing contract management.
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