Contract Review Positions Oil & Gas Leader For Sustainable Contract
Contract Advisory Services
A leading provider of well completion services in the Oil and Gas industry was working to implement an enterprise resource planning (ERP) solution. The client engaged Sendero as a contract advisor for two components of the third-party service provider’s contract: the Master Service Agreement (MSA) and the Statement of Work (SOW).
The client had a tremendous backlog of contracts, and required assistance focusing specifically on the ERP contract due to its size, impact and high visibility at the management level. Additionally, the client wanted to incorporate the most current ERP contracting best practices, specifically around business terms. The third-party service provider for the ERP software struggled to understand the client’s needs, which made it difficult to progress quickly with negotiations.
As the contract advisor, Sendero’s primary focus was to ensure that the MSA and SOW were written to accommodate business requirements, resulting in a contract that was sustainable and devoid of anything that could raise potential future legal issues for the client. Sendero managed and facilitated discussions between the client and the third-party service provider to ensure all business needs were met. Additionally, Sendero assumed a contract management role, with responsibilities including obtaining feedback and recommendations from the business, IT, and legal stakeholders, and working diligently to meet deadlines.
As the negotiations progressed, Sendero in collaboration with client management recognized the opportunity to educate the client leadership team, procurement, and IT department on the contract negotiation and review process. Sendero developed and delivered contract management training courses for software and service contracts. Sendero created processes, methodologies, and discussed best practices that could be implemented for future IT contract reviews and negotiations.
Sendero streamlined the laborious negotiation process and boosted efficiencies within all contractual elements and ensured the client and third-party service provider met necessary goals and deadlines. Sendero’s expertise with contract strategy, management, and negotiations helped the client understand the nuances associated with working with a third-party service provider. Additionally Sendero provided the client with a sustainable and valuable contract management solution to assist them with future contract negotiations. Sendero’s established credibility with contract management led to additional contract reviews which positively impacted the success of the overall ERP implementation and other IT software and service needs.