Simplified Contract Management at Landmark Group with Provakil

Sneha Kaviraj

Read on to learn how Landmark Group leveraged Provakil’s CLM software to achieve a streamlined workflow and manage thousands of contracts effortlessly.

About Landmark Group:

Founded in 1973 with a single store in Bahrain, The Landmark Group has evolved into a leadin omnichannel retailer, showcasing a collection of trusted, homegrown brands that deliver exceptional value. Presently, the group manages a network of over 2,200 outlets and hosts 10 online brands.

Problems

Lack of digitization of contracts

Operating various retail brands across the Middle East, Africa, and South Asia, Landmark Group typically engages in numerous lease, brand, and franchise agreements. However, due to the lack of digitization, managing and tracking these contracts become time-consuming and cumbersome. This resulted in important rent pay-out dates, and other critical contractual obligations being missed.

Lack of efficient Secretarial Management Workflow

Being a multinational company, many of the business functions and resources are spread across different regions. Because of the scattered information, there was restricted visibility into entity-wise shareholding patterns for multiple stakeholders. Furthermore, critical updates discussed in board meetings were also not centrally stored, making it difficult to access these information.

Data Localization and Security

The Landmark team faced challenges in finding a partner that could implement a CLM solution that hosted their sensitive data within data-centers located in the UAE and
was also ISO 27001 and SOC2 Type 2-compliant. However, most service providers hosted the application on cloud data-centers where data was hosted outside the UAE jurisdiction.

Challenges

  • Lack of digitization of contracts
  • Inefficient Secretarial Management
  • Limited Visibility across business functions

Solutions

Digital Contracting platform:

Provakil helped set up a centralized repository of all the contracts, with detailed meta-data
around key clauses, commercial details and important dates. Their entire contracting process from requisition to execution of the contract was set up digitally including contract requests, approvals as per business logic, contract review and negotiations, deviation handling as per governance principles, delegation of authority, top sheet creation for quick approvals and electronic execution of the contracts.

The platform also seamlessly integrated with the Landmark’s ERP (SAP) and other core
business systems thereby unlocking visibility on rental store payouts alerts on payout dates
and generating rental certificates with the help of revenue data and as per contractually agreed terms.

Digitizing all commercial and business agreements also helped gain visibility around intellectual property and licensing rights across different brands and regions. Most importantly, the application was hosted within Landmark’s data centers ensuring that none of the sensitive contract data left Landmark’s servers.

Secretarial Management

The solution enables users to centralize and digitize all entities' structures, management, key documents and record all ongoing secretarial meetings and other engagements on an on-going basis in a single place. For multiple-stakeholder entities, complex stakeholding patterns, trade licenses, documents can be stored according to the hierarchy.

Results:

  • Managing contracts and CRM data separately can lead to inefficiencies and a lack of cohesion in sales processes.
  • Digitization of workflows lead to reduction in turnaround time & increased visibility in the contracting process
  • Integration with internal business systems for effective rent management and other business centric use cases
  • Region wise, Entity wise, Business wise reports, dashboards
Customer Case Study