One of the first challenges Clarivate faced  was completing the full transfer of entity  ownership across all jurisdictions within a short  timeframe. Due to the scope of the project,  the newly formed company had insufficient  resources to manage a transition of this scale  in addition to its ongoing operations. To realise  their goals and remain compliant, Clarivate  partnered with Vistra, who was able to provide  a broad range of essential services in each  country of operation. 

Vistra helped restructure Clarivate’s compliance  processes to align them with the legal and regulatory  requirements in each jurisdiction. From there, a detailed  review of Clarivate’s global organisational structure was  undertaken. This included an evaluation of the purpose  and framework of all 98 newly acquired entities, which  helped Clarivate determine what legal structures needed  to be modified or eliminated to lower costs and reduce  operational inefficiencies. 

Once a detailed budget, timeline and project plan was  in place, Vistra were able to ensure compliance with all  local laws and filing requirements was achieved. The next  goal was to alleviate the administrative burden and costs  associated with managing multiple service providers.  To do this, Vistra developed a centralised billing process  that allowed all of Clarivate’s external service providers  to request payment through Vistra, instead of billing them  directly. This allowed them to consolidate the financial  transactions of all Clarivate’s existing legal structures  into one, comprehensive fiscal statement. In addition  to reducing complexity and increasing cost efficiencies,  a centralised billing model helped clarify the risk profile  for the entire organisation, allowing Clarivate to continue  making informed decisions to protect their bottom line.

• Restructuring of number of legal entities 

• Cost optimisation 

• Reduction in operational inefficiencies 

• Centralised billing process