Streamlining Legal Processes for Bangalore’s Top Managed Office Space Provider: Accelerating Deal Closures and Reducing Revenue Losses
40% reduction in turnaround time for closing deals
30% reduction in legal costs
25% boost in revenue retention
About Client
Our client is a leading co-working space provider, operating over 40+ work centers across Bangalore and other major cities. They offer flexible, modern workspaces designed to cater to the needs of startups, freelancers, and established businesses, providing an environment that fosters productivity and collaboration. With their widespread presence and client-centric approach, they have established themselves as a key player in the co-working space industry.

The Challenges

Since 2016, Incubex, a bootstrapped technology venture, had built a successful clientele. However, their legal documentation processes were disorganized and chaotic. Relying on external counsels caused significant delays in deal closures, which led to lost revenue opportunities. The challenge was to streamline Incubex’s legal operations, reduce delays, and ensure smoother deal closures to protect and enhance their revenue streams.

Our Approach

We served as growth partners to our client by addressing their legal challenges and providing tailored support. Our first step was to assist in standardizing their Real Estate Agreements, ensuring consistency and legal compliance across their work centers. We also conducted a thorough audit of their existing documentation and legal processes, identifying areas for improvement. Additionally, we provided ongoing, dedicated legal support, taking over the legal review of every transaction from initiation to signing, ensuring that each deal was handled efficiently and without legal complications. This approach allowed us to streamline their legal operations and support their growth objectives.

Outcomes

Our efforts resulted in a significant reduction of response time, bringing the turnaround time (TAT) for legal processes down to just one working day. We provided ongoing legal advice and executed key documents such as Lease Deeds, Sub-Lease Deeds, LOIs, Leave and License Agreements, Service Agreements, and due diligence, handling each transaction from initiation to execution. Furthermore, we completely streamlined all legal processes and implemented a comprehensive Management Information System (MIS) for contract and compliance management. This not only improved operational efficiency but also ensured better legal compliance and contract oversight for the client.

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