20,000 Contracts Reviewed to Support Divestiture at Major Food Manufacturer

Challenge

A leading CPG (consumer packaged goods) company is divesting a major business line. To stand up the new business, they need to categorize and update upwards of 20,000 agreements across several practice areas and jurisdictions.

Approach

Within 5 business days of receiving an RFP, Axiom submits the winning bid. The client needs to review, prioritize, and complete up to 20,000 contracts over 5 months. Axiom partners with a contract analytics company to perform an AI-enhanced first pass on the agreements. Afterwards, Axiom brings in 5 contract lawyers, each specializing in a different practice area, to draft agreements, negotiate with vendors, and produce templates on the remaining contracts. The team is helmed by a team lead with over 15 years of GC experience at multinational companies, who then liaises directly with client’s management team.

Impact 

• Centralized global contracts for client via a streamlined new contract management system.
• Axiom team partnered with client’s M&A and procurement arms to categorize, duplicate, or transition over 20,000 contracts over 5 months.
• Axiom contract lawyers reviewed a full monty of agreements ranging from procurement, marketing, real estate, IP, and more.