Simplifying Legal & Taxes in a complex world
The growing complexities of Legal and particularly Intellectual Property (IP) were driving up legal costs and risk for this global agribusiness. Their current processes and systems exposed the company to a number of potential risks such as loss of IP rights, issues with Freedom to Operate, contract compliance and data security leaving the client open to breach or litigation.
As part of a transformation initiative SERAC helped develop a change strategy and led the human change elements of the program.
The program introduced new ways of working, processes and systems to mitigate business risks related to IP and Contractual assets. The value of this risk was estimated to be $220m and the assumption was that benefits delivered by the program would reduce the risk by an estimated 70% ($150m).
Alignment of the functional senior leadership around a practical approach to the issues was central to success. By enabling leadership engagement globally the function was able to define and establish newly designed processes and systems as well as ensure legal staff were adequately trained and accepting of their changing role.
The program succeeded in delivering, amongst other things; an integrated technology solution to manage all contractual obligations and IP and Product information; globally harmonized processes to improve efficiency and global visibility of contractual rights, obligations and IP assets. An unexpected benefit for the function was the ability to deliver increased levels of service to the internal client in a more efficient manner enabling a switch from reactive to proactive engagement.
The transformation was instrumental in putting our client ahead of the pack in managing what is a minefield of IP complexity.
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