Saffron Building Society Case Study
Saffron Building Society needed several business-critical contracts to be negotiated, and The Network Collective’s commercial and contract functions filled a lead negotiation role, offering specialist advice to the in-house team.
Saffron Building Society engaged The Network Collective to assist with the negotiation of several technology contracts, including IT systems, software and managed services. One such contract was with a niche software developer and systems integrator, facilitating mortgage fulfilment and savings accounts.
We first undertook a gap analysis of the contracts on the table, identifying key deal terms that should be factored into the contractual landscape. Negotiations then took place to secure improved warranties on the quality of software code, and to bolster the acceptance testing regime of the key deliverables.
Following these detailed negotiations, the supplier recalibrated the legal, commercial and service terms. This led to significantly enhanced contractual cover in respect of warranties, termination for persistent breach, step-in rights, liquidated damages, a perpetual licensing model and robust cost control for future maintenance elements.
The Network Collective has established itself as a trusted partner and advisor to Saffron Building Society’s IT managed services contract portfolio, also advising on contracts for software licenses for treasury management systems and risk management system software. In all of our engagements we have delivered tangible value for money while adopting a commercially responsive service, developing creative solutions and meeting challenging business demands.
Thank you TNC for your help during this process – very easy to understand and very comprehensive advice.
Colin Field, CFO, Saffron Building Society
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