Situation

The current timeline for executing all deliverables for a New Investor Contract was close to 180 days. Knowing this was double the industry standard (90 days), they knew something needed to be done to retain key clients.

Team Engagement Strategy

A frontline team of contract review specialists as well as administrative staff was tasked with cutting cycle times in half. They were up against the clock and needed support, so they leaned on Rapid Action, a toolkit designed specifically to help teams get results fast.

Rapid Action Project Charter

How can we streamline and standardize the New Investor Contract (MLPA) Review by the business partners in order to reduce overall cycle time from 180+ days to 90?

Sample Solutions Implemented

1. Established a shared drive to reduce the number of emails sent back and forth and to make the information available to all parties involved.
2. Created a business partner list to streamline the decision-making process as the right parties will now receive the right documents at the right time.
3. Created a process flow chart to periodically review business partners and process maps to further streamline down the road.