Companies handle an enormous number of documents nowadays. Whatever their activity sector is, their legal, human resources, sales and, in general, almost all departments manage a large contract, template and report amount. Document automation is a solution that makes it possible to deal with this chaos of paper that takes up folders and folders. It is a technological solution that also helps companies to leap digitalisation and provides them with great flexibility.
Topics: Legal industry trends, Legal industry, Contract management, Legal technology, Robotic process automation, digital transformation, digital documents, Document management, Digital Business, software
Document management is the way in which companies or organisations classify, secure, approve and complete elements related to the management of the company or organisation. Legal and HR teams in companies manage a large number of documents every hour, every day and almost every minute. Document management is time-consuming and, in the face of high workflows, leads teams to perform less efficiently and make mistakes.
At Bigle Legal we want to conquer the European legaltech market and we have just taken a solid step on that path thanks to a new investment round of two million euros. Led by Adara Ventures and ICF Venture Tech II, the round will allow us to increase our team size to add even more talent to our ship of Biglers.
Every company wants efficiency. Being a top corporation requires efficiency and hard work and that's exactly what legal operation provides. Legal departments are supposed to provide just this to make sure that all the work is done smoothly. Take the example of Silicon Valley that took the help of legal operations to get to where they are today and not only catch up to their rivals but also beat them.
Legal operations refer to the operations necessary for a functional legal department. These operations ensure that legal departments can provide more effective legal services.
What are legal operations?
Legal operations are the essence of every corporation. The legal industry is evolving with increased demand for legal services that continue to be trending in any form of business. It is responsible for producing efficient plans for in-house legal teams and enhances their work proficiency with better decision strategies. The set of activities are much broader comprising intra- and inter-functional collaboration, innovative legal solutions to the clients, managing financial matters, technology, vendor management, data analysis to maximize the effective delivery of legal services. CLOC's model is based on twelve core competencies that are divided into 3 layers, specifically foundational, advanced, and mature level competencies. In other words, legal operations have turned down the concept of in-house legal from "cost center" to "value-creator".
In recent times, legal operations have morphed into a rather flexible aspect of most functional organizations driven by the need to provide business returns. Initially, in-house legal teams were tasked with mostly esoteric legal duties which could be executed by outsourcing.
Legal Departments are becoming more sophisticated in terms of the need to align with any company's strategies in certain areas. Increasing efficiency, training the legal team properly, adapting to the new times, selecting responsible suppliers are some of the keys that encompass legal operations.
Property technology, better known as Proptech, has become one of the major topics that are discussed in the real estate market with billions of dollars invested towards innovating and enhancing it.
In fact, the first two quarters of 2019 witnessed record-breaking investments of $12.9 billion streamed into proptech advancements.