Law departments that succeed with Legal Process Outsourcing relationships over the long-term and realize all the promised benefits do so because they implement the right tools and processes to ensure that they have up-to-the minute visibility into their transaction portfolio.
In today’s environment, corporate law departments face an escalating need to understand spending, maximize investments and increase efficiency. The practice of outsourcing routine or repeatable work — such as NDAs or contract review — is one popular strategy. The promise of LPO is that the law departments will realize substantial cost savings and move their lawyers up the work value chain.
However, in many cases, the overhead associated with managing the work across entities exceeds the savings. An inability to keep track of work, understand and leverage efficiencies and mine the transaction data for trends often limits the success of these relationships.
This eBook will address:
- Why many LPO efforts fail to realize the promise of cost savings —even with lower hourly rates from LPO vendors
- Why email and spreadsheets are inefficient tools for managing a scalable, successful LPO initiative
- How corporate law departments are reinventing the way they approach outsourcing
- Why Smart Process Apps are becoming a major force in business
- How Apps streamline LPO, reduce processing time and simplify administration of multiple vendors.