NEW YORK--(EON: Enhanced Online News)--Axiom, a leading provider of technology-enabled legal and contracting services, today announced a 5-year, managed contracting services agreement with Johnson & Johnson Services, Inc. Under the terms of the agreement, Axiom will provide a multi-shore contract management service supporting the company’s global procurement contracting function.
“That approach not only creates a more efficient contracting function, but it also has commercial benefits - shortening cycle times and better managing risk.”
The breadth and reach of this initiative is considerable – especially in the life sciences sector. Axiom will support and standardize the company’s global contracting function responsible for thousands of procurement agreements in more than 10 different languages, across a dozen contract types.
“We are pleased by what this deal represents for contracting in the life sciences industry: the progression from an artisanal approach to a model that applies standardization, automation and process,” said Al Giles, Executive Vice President and Head of Commercial, Axiom. “That approach not only creates a more efficient contracting function, but it also has commercial benefits - shortening cycle times and better managing risk.”
Continued Giles, “This deal is significant, not only because it represents a tipping point for a new approach to contracting in life sciences, but because of its application to a global contracting model.”
Under the arrangement, an integrated Axiom team of negotiators and subject matter experts will employ a unique approach to contracting to more efficiently create, execute and negotiate procurement agreements. In addition, an experienced team of Axiom attorneys will provide ‘white glove service’ for more complex agreements.
While Axiom’s Chicago Center of Excellence will serve as a ‘front-door’ supporting in-time zone coverage for North America, the majority of the team will operate from Axiom’s Center in Wroclaw, Poland. Since opening in late 2014, the Wroclaw Center has seen dramatic growth, driven in large part by new life sciences clients.
With this announcement, Johnson & Johnson Services, Inc. joins Axiom’s growing life sciences portfolio. Axiom serves 22 of the top 25 global pharmaceutical, biotech and medical device companies, including 9 of the top 10.
Axiom, a recognized leader in the business of law, provides tech-enabled legal, contracts, and compliance solutions for large enterprises. Axiom’s solutions combine legal experience, technology, and data analytics to deliver work in a way that dramatically reduces risk, cost and cycle-time. The firm comprises 2,000 lawyers, professionals, process engineers and technologists who serve over half the Fortune 100 across 15 regions and 3 centers of excellence globally. www.axiomlaw.com
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