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Now that we’ve looked at the benefits and potential pitfalls of contract lifecycle management systems; in this final article in the series, it’s time to consider how you integrate the investment in a new CLM system with your people and processes.
The arrival of a new contract lifecycle management (CLM) system — or any legal tech solution — comes with potential pitfalls that can diminish its effectiveness or even stop you from getting full return from your investment.
The first two articles of this series focussed on the power of aligning legal operations with business and GC strategy as a starting point for change.
Is anything more fundamental to business than a contract? It’s the tie that binds a company to a client — a mutually-agreed vow that enables the regulated exchange of products and services.
To meet ever increasing pressure to become more agile and responsive to business needs, in-house legal functions are investing in transformation initiatives. However, all too often these initiatives disappoint or fail.
Keeping track of all a firm’s local divisions and business units, knowing the officers in charge of each one, and understanding the jurisdictional differences between them, is vital for large organisations.
A survey of law firms and General Counsels conducted by Bloomberg Law last year found that more than a third did not have a legal operations function.
Of all the future-gazing about what a post-COVID world might look like, predictions about the workplace are proving to be the most accurate. We’ve quickly gone beyond acceptance of home and hybrid working to embrace longer-term trends like contingent staffing and outsourced services. In the topsy-turvy world of lockdowns and supply chain disruptions, a flexible legal workforce made up of your talent and the resources provided by a partner is gaining greater acceptance.
Of all the future-gazing about what a post-COVID world might look like, predictions about the workplace are proving to be the most accurate.