Liontrust Asset Management plc is a specialist fund management company founded in 1995 and listed on the London Stock Exchange since 1999. Having acquired the Architas UK Investment Business at the end of 2020, Liontrust were in the process of integrating their legal functions and creating a new team which would manage legal services for the whole investment business. Processes had historically been manual and time-consuming, with a large amount of the workload sitting with the Head of Risk.
Members of the new integrated team had previous experience of using a contract management system which had not met their expectations. This meant that they were careful to make sure that the system they brought in was going to be right for their specific needs.
Ironclad had been recommended to the team at an early stage, and after they had carried out due diligence and seen what the system could do, they decided to choose Ironclad for their new CLM system.
SYKE were brought in to carry out the implementation and build the workflows which would be based on the previous manual contract checklists which Liontrust had been using.
Parmjit Ubhi, Paralegal at Liontrust who managed the project for the asset manager, commented: “Max [Head of the Ironclad Practice at SYKE] was a huge asset to the project. He not only knew the Ironclad system inside out, but he had previously practised as a lawyer, so he was able to understand the needs we had and how he could configure the system to meet our specific requirements.”
The deliverables for the project included a contract management system and document repository, with the previously manual contract checklist now replaced by automated workflows to make sure that contracts go to the correct approvers and are then catalogued and stored safely. This will help Liontrust to be able to keep better oversight of all contracts and react more swiftly to the ever-changing regulatory landscape.
Liontrust are now in the process of embedding the system and carrying out training for staff. Reactions to the initial internal demo have been very positive and the team are confident that the new system will make a huge difference to their workloads and allow them to use their time more strategically.