Stream­lined and effi­cient — mis­sion accomplished

Globa­cap is a fin­tech SaaS (Soft­ware as a Ser­vice) that helps busi­ness­es run and man­age their equi­ty place­ments includ­ing fund­ing cam­paigns and invest­ment rounds. Its mis­sion is to digi­tise and auto­mate the world’s pri­vate cap­i­tal mar­kets. But Globacap’s con­tract process­es weren’t keep­ing up with the company’s rapid growth. Which is where Lex­So­lu­tions came in.

Just how impor­tant are your Ts and Cs for your SaaS business? 

Globa­cap had a com­plex set of T&Cs that were no longer work­ing for it or its cus­tomers. The busi­ness mod­el had evolved many times since the busi­ness had first devel­oped its con­tract doc­u­ments, and they also need­ed to step up a gear to keep pace. 

With dif­fer­ent lev­els of reg­u­lat­ed and unreg­u­lat­ed ser­vice ele­ments on top of an annu­al SaaS sub­scrip­tion and changes to the busi­ness mod­el, the exist­ing terms of busi­ness were becom­ing out of date and unwieldy. An increas­ing num­ber of larg­er cus­tomers were rais­ing excep­tion. This was caus­ing fric­tion, slow­ing down sales and was also impact­ing Globacap’s abil­i­ty to scale. 

Using a legal and con­tent design approach for bet­ter contracts 

Lex­So­lu­tions worked with Globa­cap to ratio­nalise the tem­plates into one stan­dard­ised set, and to sim­pli­fy the infor­ma­tion archi­tec­ture which made it more mod­u­lar and eas­i­er to nav­i­gate. The team also worked on the com­mer­cial and legal con­tent to update it. With a com­bi­na­tion of legal con­sult­ing work and design, Lex cat­e­gorised con­tent, sim­pli­fied struc­tures and used agree­ment maps to help stream­line and visu­al­ly present the con­tents of the documents. 

The con­tent could then be placed into a stan­dard­ised T&Cs along­side an order form which hadn’t been pos­si­ble pre­vi­ous­ly with­out major overhauls. 

The Lex team did the heavy lift­ing and used a rig­or­ous design process, which made it easy for Globa­cap to review the con­tent and coor­di­nate with its reg­u­la­to­ry advisors. 

Lever­ag­ing new legal tech­nol­o­gy and con­tract automa­tion software 

These new doc­u­ments were pub­lished and auto­mat­ed using Majo­to, a new con­tract automa­tion tool that can gen­er­ate, cus­tomise and issue draft doc­u­ments quick­ly and effi­cient­ly. It can also main­tain and pub­lish stan­dard parts of doc­u­men­ta­tion online. 

Andrew Olsen, GC at Globa­cap said: 

“Our con­tracts are an impor­tant part of our cus­tomers’ jour­ney so they need to set high expec­ta­tions for what it will be like to work with us. Hav­ing worked close­ly with Lex and inte­grat­ed new tech­nol­o­gy we are now in an excel­lent posi­tion to bet­ter reflect the qual­i­ty of our clients’ expe­ri­ence from start to fin­ish, and to be more effi­cient about it.”

Terms and con­di­tions that lead to faster deals? Music to the ears of any SaaS founder! 

If you would like to speak with Lex when it comes to breath­ing new life into your con­tracts using new process­es and legal tech­nol­o­gy like www​.majo​to​.io, con­tact manu@​lexsolutions.​com