Challenge
A 5-year agreement was ending, and our client wished to continue subject to an overhaul of the contract and the terms.
The client is a UK financial services company specialising in savings and retirement services.
Approach
- We acquired a thorough understanding of stakeholder requirements and expectations. What was working, what wasn’t, the outcomes needed. A key requirement was the need to scale the agreement across other brands within the group, and as required, remove services for divested entities.
- Constructed a comprehensive analysis of all aspects of the contract including services and service levels, commercials, and the core terms in the MSA.
- Peru did an independent benchmark of services and commercials.
- We made recommendations on changes required to core terms.
- Peru prepared the client for the renegotiation.
Outcome
- The client renegotiated from a position of clarity and strength.
- The benchmark of services led to significant savings compared to the original contract.
- A market competitive contract was agreed between the parties for a further 5-year term, without the need for a lengthy and costly process.