Does your legal department suffer from inefficient contract management?

posted in Contract Management, Legal Risk Management, Legal Technology

Inefficient contract management can take its toll on overburdened legal departments. But it’s not only a matter of wasted time. Poor contract management can also cost your business dearly. According to the International Association for Contract and Commercial Management (IACCM), inefficient contract management can cost businesses as much as 9% of annual revenue. In fact, inefficient processes can result in financial losses […]

How do you cope with the lack of contract automation?

posted in Contract Management

Contracts are the roadmap of your business: the vast majority of business transactions are indeed determined by a contract. Any mistakes in this process can increase the company’s liability and have a significant impact on the business.

5 Contract Management myths holding your business back

posted in Contract Management

While contract management is a necessity these days, adoption across the organization remains a challenge. At a time when data breaches and increasingly complex regulations are becoming the norm, organizations can’t afford to keep taking risks and overspending on contract management, especially since contracts play a role in almost every part of the business. The text below examines common myths legal departments have about contract management to set the record straight: it’s time to take the contract out of the filing cabinet and put it in the cloud.

How to gain control of Contract Management processes

posted in Contract Management, E-signature technology

Lawyers are usually control freaks, but one area that seems to slip through their fingers is contract management. Whether it’s due to planning or information overload, an inefficient contract management process can result in delayed decision-making, people failing to understand their responsibilities, and missing opportunities to improve performance. One of the key goals of contract management is to obtain the services that were agreed upon and achieve value for money, which means optimizing efficiency, effectiveness of the service, and weighing costs against risks. A successful process guarantees you are in control of your legal risks, by doing the following:

Legal Operations: What to look for in a legal technology partner

posted in Legal Technology

Today’s legal department is under pressure “do more with less”. Executives expect the legal department to be a true business partner, helping the business achieve their goals, creating value and keeping a keen eye on costs. To deliver on these expectations, legal leaders look to technology solutions to help them drive efficiency, generate insights and control costs. With many legal […]

Five questions to ask yourself before purchasing software for legal operations

posted in Cloud technology

Optimising the way your legal departments operates can be a tedious process if not planned and implemented well. It used to be that only large corporate law departments could afford to optimise the delivery of their legal services by hiring dedicated legal operations functions. However, nowadays, with the right technology, even small legal departments can innovate, without taking time away from […]

How GCs in Small CLDs are Meeting their Legal Operations Challenges

posted in Legal Innovation, Legal Technology

Ask any General Counsel about the legal operations challenges they face on a daily basis and the answer that comes back is most likely about increasing productivity, streamlining processes and/or creating value. It all boils down to operational efficiency, and being about to work in the most strategic way possible. To address these challenges, an entirely new discipline of “Legal […]

What is Legal Operations?

posted in Cloud technology, Legal Innovation, Legal Technology

What is Legal Operations?  If you are part of a legal department, you are probably already dealing with Legal Operations, whether or not you know it as such. To answer the question”What is Legal Operations?“, it’s important to make a distinction between the two things legal departments focus on. The first is legal work like providing legal advice, managing litigation […]

Legal Project Management: Learning the basics to mitigate project risk

posted in Legal Risk Management

Could you benefit from a better understanding of Legal Project Management? Legal project management is no easy task. Not only does it require meticulous budget and cost controlling, but project managers also need to be able to mitigate risks that could cause the project to fail – be it a contract, merger or acquisition, or a case. Project management is the […]

CASE STUDY: How Vebego got entity management under control

posted in Entity Management, Legal Technology

As legal counsel, staying on top of corporate housekeeping can be your biggest challenge, especially when it comes to entity management. As the central point for managing corporate records, company structure, compliance and risk across multiply entities, you want to be accurate and thorough in all that you do. And this can be hard if your info is spread across […]