trueLedger: Contract Collaboration Platform for Professional Services

The cloud-based web platform supports all contract creation and management processes necessary for both sides to collaboratively work together.

Client and Challenge

In the professional services market, buyers seek excellent results at a fair price, while vendors aim for predictable compensation to sustain their business. Misaligned incentives often lead to unsatisfactory outcomes, higher-than-planned costs, and the introduction of heavy governance processes (strategic vendor lists, rate tables, invoice review workflows, multi-stage approvals, audits, etc.). This makes collaboration difficult and fosters a culture of distrust.

trueLedger approached LeverX with the idea of building a platform that would solve this problem using computed contracting technology (a rules-based approach that automatically calculates and updates commercial terms). The challenge was to create a system that:

• flexibly supports both single deals and large portfolios of engagements
• can work stand-alone or integrate with existing systems (procurement, ERP, etc.)
• handles simple contracts as well as highly complex agreements
• combines strong frontend UX with a robust backend capable of implementing sophisticated contracting logic

Solution

LeverX partnered with trueLedger as a full-cycle development partner, designing and building the cloud-based web solution from scratch based on the startup’s specifications. The first production-ready release was developed and deployed in about six months and is now actively used by trueLedger’s clients.

Key elements of the solution:

• Collaborative contract setup and negotiation
  The system supports a detailed definition of each contract, allowing buyers and vendors to configure terms at multiple levels. Both sides can collaboratively negotiate, approve, and sign agreements within a single digital environment.
• Product and service catalog management
  Service providers can maintain structured product and service catalogues for their offerings. These catalogues are quickly applied during contract setup, so creating a new engagement typically takes only a few minutes.
• Multi-currency and multi-language support
  The platform supports multiple currencies, including automatic conversion based on current exchange rates, even within the same engagement. Products can be defined in different currencies, and the system handles all conversions. The interface and generated reports adapt to selected language settings.
• Automated and accurate invoicing
  For each engagement, stakeholders can define the accounting period (e.g., monthly, quarterly, yearly). Statements are generated automatically, and authorized users are notified when new statements are available, ensuring timely and accurate invoicing.
• Resource projections and forecasting
  The system aggregates data on completed work and delivered goods to provide real-time reporting and projections. Stakeholders can see whether a project is on track or over budget, and can simulate how a commercial relationship will unfold during negotiation. For active contracts, projections on burn rate and budget utilization are available via interactive graphs and dashboards.

Technology Stack

• Application type: Cloud-based web platform
  A multi-tenant, browser-accessible solution designed for buyers and vendors of professional services.
• Frontend: React.js
  Implements a responsive, interactive user interface for contract setup, negotiation, tracking, and reporting.
• Backend: Python
  Powers the core business logic, including computed contracting, engagement management, invoicing, and reporting.

Results