Managing the knowledge of companies in an increasingly virtual environment is a complicated task, but it becomes a competitive advantage if done with the right tools

Knowledge is key for companies. Even more in an environment that is increasingly digitised and involved in technology. Knowing to manage that knowledge properly makes the difference between effective or inefficient processes. Understanding and implementing the right tools for knowledge management should be one of your priorities for the business, so let's analyse what KM (knowledge management) is, how it relates to CLM (Contract Lifecycle Management) and how its merger will mark the digitisation of companies.

In an interview with the Cyber News website, Sergio Esteve de Miguel, Co-CEO of Bigle Legal, talks about the risk reduction and security that CLM offers companies. Legal is the one sector that accepts technology change and developments extremely slowly, but the recent pandemic and generally quickly changing environments are forcing it to pick up the pace.

Nowadays, paper consumption is still very high in the workplace, despite the obvious damage to the environment caused by the production of this material and its mass consumption. Fortunately, document automation technology is helping to reduce paper consumption by offering cloud-based software to professionals in all types of industries. Paper is necessary for many professions, but reducing its use not only helps the planet but also brings benefits to companies.

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.

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.

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.

Meet Jessica. She leads the legal team at a popular real estate firm. Her team is hardworking and dedicated - but she’s noted their performance has been faltering as of late. With heavier workloads, the team clearly wasn’t working as efficiently as they could be.

Each day they’d spend hours drafting complex contracts by hand, tediously copying and pasting clauses and explaining contracts to different parties. There were communication breakdowns due to poor collaboration between colleagues - and even some contract errors. For Jessica, it was evident: the legal team was placing all their energy into drafting legal documents, instead of supporting the real estate firm to really thrive.

Hard paper and physical documents are becoming increasingly obsolete in almost all the workspaces that depend on them. Including law firms and legal departments that operate heavily on generating documents and contracts. What is happening is that all these professionals are shifting towards digital documents and digital contracts that are bringing more convenience and accessibility.

Technology is undoubtedly revolutionizing and transforming different sectors and industries, And of course, one of the sectors that do not escape this transformation is the legal sector.

It has become absolutely necessary that all legal professionals are prepared to face these new digital transformation technologies while being able to take full advantage of the benefits of these digital tools.