Despite falling behind to Andy Kirk's early opener, Scunthorpe stormed back to establish a 2-1 interval advantage through top scorer Paul Hayes and Richard Kell, and ran out comfortable winners.
Laws said: "That was a fantastic result for us and a great effort from all the players.
"We spoke all week about how important this game was. We did not expect to make such a bad start but we responded well to going behind and were the stronger team in the second-half, and could have won by a bigger margin.
"If you take out the Lincoln game, our last five or six performances have been good but we have not been getting the results.
"We needed to turn those performances into results and now we've got to make sure we stay in the promotion places until the rest of the season. The finish line is almost in sight."
But Northampton boss Colin Calderwood could draw little comfort from the result.
He said: "You would imagine from the way we started we were going to be in for a good afternoon.
"But right from when Scunthorpe scored their first goal to the end of the game they imposed themselves, did things better than us and ran out comfortable winners."