When a legal department has the technologically driven tools and processes it needs for that efficiency, it’s a game-changer for an organization. The more time that Legal has for partnering with the business, the more successful the business is and the more valuable Legal becomes to the organization.
This eBook addresses:
The global contract lifecycle management (CLM) software market projects to reach $2.9 billion by 2024* as more companies recognize the profound benefits the solution offers. A CLM solution allows companies to capture, automate, and analyze the entire contract lifecycle from initiation through approval, compliance, and renewals. In fact, it can drive business value by compressing time to revenue, mitigating risks by having fewer contractual exceptions, and increasing internal and external customer satisfaction.
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* Markets and Markets: Contract Management Software Market by Component, 2019
The last year has forced hard pivots from companies, opening pursuits to drive efficiency, control costs, and maximize productivity across the enterprise. As a result, corporate legal departments have found a new way to do business, having entirely overhauled processes and routines that, in many cases, had been in place for decades.
In this eBook, experts from companies like McDonald’s, Colgate-Palmolive, BT, and Corteva Agriscience discuss how new approaches and technologies such as platforms, enterprise legal management (ELM), and contract lifecycle nanagement (CLM) have helped them navigate successfully into this new normal.
Download this eBook to explore their advice, lessons learned, and celebrated successes.
How do corporate legal departments transform their operations and extend those benefits to the entire enterprise? It requires vision, planning, people, and technology.
This white paper shares the inspiring legal digital transformation solutions for the corporate legal departments of BT, ADM, and VMware. It also offers advice from experts on how to create your own intentionally designed digital transformation.
Many sales operations and procurement departments struggle to find practical solutions for handling contracts. In fact, recent studies show these teams spend as much as 65% of their time on administrative tasks alone, such as preparing documents.
Comprehensive contract lifecycle management (CLM) solutions automate and standardize processes, decreasing risk and manual work — and giving sales and procurement specialists back their time to do what they do best for their businesses: spark opportunities, cultivate partnerships, and ignite revenue generation.
However, not all AI-enabled contract management solutions are created equal. This quick start guide focuses on the AI features you need to accelerate pre- and post-signature contract management and provides the expert advice required to get started.
The past two years have thrown unprecedented challenges at companies. Their corporate legal departments have risen to the occasion. From the pivot to remote work to the push to ramp up efficiency and control costs, legal professionals have adapted to all challenges with precision and skill.
Now, new areas of focus have arrived. Our white paper compiles current data, metrics, and benchmarks to identify the top trends influencing legal operations, illustrating how Legal will take action to solve today’s (and tomorrow’s) most pressing challenges.
In recent years, corporate legal departments have seen a shift in expectations for conducting business. Gone are silos and limited interaction with the rest of the organization. In their place is the desire for self-service for low-risk requests, enhanced responsiveness, and increased transparency. As Deloitte noted in a report on the legal department of the future, “In-house lawyers are becoming business partners, embedded and able to work across units and specializations.”
No-code business process automation (BPA) platforms and business intelligence (BI) platforms powered by artificial intelligence (AI) are making this happen. They enable corporate legal to spin up Apps and solutions to fit any business use – from contract lifecycle management to managing diversity to data breach reporting.
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The demand for contract lifecycle management (CLM) solutions is rising across enterprises in the legal, public, healthcare, manufacturing, and financial services sectors. This growth comes as no surprise considering the tremendous value CLM solutions offer. According to the Association of Corporate Counsel (ACC), contract management tools can dramatically shorten cycle times; in billion-dollar companies, legal departments that employ contract management technology reduce their average contract cycle time by 33% (from 30 days to 20 days).
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When a powerful contract lifecycle management (CLM) tool is combined with a state-of-the-art legal document management platform, the whole becomes greater than the sum of its parts. Successful contract management is about more than just making life easier for Legal; it should also provide positive impact for all stakeholders in the contract management process – and as Legal becomes an even stronger player in the organization, it can drive even better results for the business through the combination of CLM and document management systems (DMS)
Contracts are the cornerstone of all business transactions, but the process is often fragmented. In most cases, a contract review and approval process requires involvement from multiple departments and is typically handled by email. There is far too little visibility into where a contract is, how long it’s been there, or its expected completion. And once a contract gets executed, it is often unclear where that contract is maintained.
This webinar highlights a case study that implemented a process automation platform to address these challenges and the lessons learned during the process.
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