End-to-end contract management automation with Atlassian Cloud

"It was unfathomable that something so game-changing was possible to produce within such a short time. The consistency and excellence with which EG’s team worked with us exceeded it all! This has indeed changed the way we work and made it much easier while adding to its quality."

John, Chief Legal Officer, All Future Financial

The Opportunity

Background

Valued at 2.2B, US based financial company, All Future Financial* has harnessed and leveraged modern technology to provide financial services including loans and cross boundary payments to a global audience.

Focused on Africa, an emerging market, AFF handles the majority of its operations here and is the standard destination of remittance payments sent through its platform. Hosting a rapidly expanding active user base of five million people within the last two years, AFF onboards local businesses to channel these remittances, allowing for large segments of ‘unbanked’ societies to access financial services needed to sustain their lives and grow their economy.

Seeking solutions to complement pre-existing processes and speed up contract review for its legal team, AFF approached Elegance Group to implement innovative, breakthrough solutions to drastically alter their workflow. With vital tooling, adapted methods, and expertise, a partnership with EG was optimal to achieve their goals.

The Challenge

Due to legal hurdles caused by the particular nature and impact of financial services, financial companies face high risks of litigation with mismanagement. For companies such as AFF, currently generating $100M in annual revenue, these risks could cost millions, even billions of dollars in litigation fees.

In an especially fragmented geographic location like Africa, language and laws differ drastically. AFF’s legal team worked judiciously, with multiple manual processes to generate and sign legal documents, resulting in lack of clarity of the most recent copies and duplication of signing activities. This process drained financial and human resources, slowing AFF’s expansion throughout the African continent. Existing processes to increase renewals and minimize errors couldn’t sustain the rapid pace of the competitive market.

The Solution

Challenges

From the first day of work, there was a consistent, collaborative, and clear engagement to develop the solution. The most pressing problems which needed to be solved were:

Technical limitations of the integrations and tools that were used
Aligning the technological capabilities to the business flow
Creating succinct processes which were straightforward for all stakeholders and easy to use

Solution

To the joy and disbelief of AFF’s legal department and stakeholders, a solution was developed and provided within three weeks. Using multiple communication mediums, EG worked with AFF to develop process sequences using Atlassian tooling and integrations with multiple other applications to:

Streamline the process of reviewing agreements
Facilitate relevant signatories to sign agreements in a timely manner
Digitally progress and track all activities, with recorded audit log
Automate the verification process from start to end
Enable AFF to take full control of the process with training and upskilling sessions with EG to master the use of the tools

The Impact

“I am still in total disbelief by the solution EG provided us. In three weeks, Brett and his team not only understood our fears and concerns, but also tailored an automated legal verification process which exactly fits the needs of our rapidly growing company. All-in-all, the elegance of the solution provided by EG had a powerful ripple effect on the whole organisation which gained confidence in its dealings with partners as well as the pride and joy of its staff to have one of the most robust processes in the industry.” John, Chief Legal Officer, AFF

Return on Investment

After the acquisition of this new process, AFF took full control over its legal obligations through automation which allowed it to not only save financial and time resources, but to also gain a competitive edge due to the increased rate of partner onboarding. The CEO and other executives were greatly impressed, and the chief legal officer could not believe the result they achieved which was a game-changer. So much that the legal department could provide more assistance to other departments such as marketing to increase the efficiency of their work. All-in-all, the elegance of the solution provided by EG had a powerful ripple effect on the whole organization which gained confidence in its dealings with partners as well as the pride and joy of its staff to have one of the most robust processes in the industry.

*Please note AFF is an alias used to protect the identity of our client.