10 February 2014
The Cloud - with a silver lining
Client relationships are at the heart of what we do best. In the previous issue of Insight, we talked about our “off the clock” approach and the importance of bespoke, tailored advice and providing real solutions specific to your business.
To demonstrate what that means in practical terms, inside we share the experience of one of our clients, CentraStage, and show how the depth and breadth of our expertise has helped the business achieve success every step of the way.
CentraStage is a UK-based provider of IT management technology, delivered as a service. At the heart of the offering is the CentraStage platform, a cloud-based device management solution that gives IT managers visibility and control over their entire IT estate from a single integrated cloud platform.
The company incorporated in 2006 but effectively began trading in 2008 and, from its inception, has used B P Collins to help set up operations, secure vital investment and offer proactive advice to support the growth of the business.
“We began working with B P Collins right from the outset, and they were instrumental in helping us find our feet,” says Christian Nagele, CEO at CentraStage. “They gave us good, pragmatic and structured advice, and made sure key set-up aspects such as articles and shareholders agreements were effectively in place.
“They also gave us invaluable advice around funding – playing a major part in helping us secure crucial investment to get the business going. Funding is absolutely critical for any software business, but our early partnership with B P Collins helped us navigate important funding rounds and successfully engage with key financial institutions. It got the business going.”
A key milestone within the relationship was when, a few months after launch, CentraStage was in the advanced stages of an important deal with a potential new client.
The client wanted the added security of an Escrow agreement, but the CentraStage team knew that, as a start-up with limited resources, it couldn’t afford the costs involved for a formal arrangement.
The B P Collins corporate and commercial team stepped in and, after liaising with the client, drafted a basic Escrow-like agreement which provided the necessary reassurance and enabled the deal to go ahead.
Christian continued: “This was our first major deal and the work B P Collins did was genuinely the difference between closing the deal, or closing the business. The customer remains with us today and has been delighted with the service – but our early engagement with the legal team highlights a great example of a creative and pragmatic approach by a law firm to resolve a common challenge for a young business.”
Since then, the two businesses have continued to work closely together and Christian calls it a partnership-based relationship, rather than a traditional law firm/client engagement.
“Unlike many law firms, B P Collins’ services are not transactional; there is proactive and ongoing dialogue, rather than reactive, knee-jerk responses to problems as they arise,” he said.
“This has helped them develop a greater understanding of our business and its needs, and in turn, we enjoy a much more strategic relationship. Crucially, whenever we seek advice, we will never feel like they’ve pressed the ‘go’ button on the time sheet and we’re clocking up a bill. That’s a really refreshing approach.”
Recently, B P Collins has helped CentraStage through its latest financial audit, receiving plaudits from the auditors for the standard of legal housekeeping.
“Having B P Collins undoubtedly made a massive difference with the audit. As with all of the work they do for us, their forensic attention to detail and their ability to get things done quickly and effectively has enabled us to concentrate on developing the business, safe in the knowledge that our documentation, processes and agreements are secure and watertight,” concluded Christian.