Human resources departments are responsible for a wide variety of bureaucratic and administrative processes in companies. This usually means countless documents to collaborate and work on, before signing and storing them. But it doesn't make sense to manage and process HR contracts in recruiting software designed for other departments like sales or procurement. With Contract Lifecycle Management, it is possible to reduce hiring costs, avoid outsourcing headhunters, and speed up employee hiring and dismissal processes.
The back-office departments of large corporations receive hundreds and hundreds of external claims per month. This volume represents considerable data and information linked to specific issues. Receiving, processing and managing them in a classified way can be a daunting task. Still, it becomes child's play thanks to state-of-the-art Contract Lifecycle Management (CLM) technology.
Contract Lifecycle Management (CLM) is a technological ally that speeds up, streamlines and secures document processes in legal departments. A diamond in the rough for lawyers, but what if it were a tool that works for the rest of the company? Both questions have an easy answer: CLM helps anyone who works not only with contracts but also with all kinds of legal documents. Human Resources, Finance, Procurement, Marketing… all of them can benefit. Regarding the sales department, the CLM is a resource to streamline its negotiation processes, secure them and make them more attractive to the customer.
Legal ticketing gives the legal department full control over the requests it receives and multiplies its benefits when combined with an appropriate CLM
Legal departments receive hundreds of requests by email, through messaging services such as Teams, Google Meet or Zoom, or verbally. Due to this manual process, lawyers have serious trouble identifying the status of each request, who it comes from or when it is due. Legal ticketing is an indispensable method for channelling and organizing all these requests: learn about its keys and why CLM technology is the most advisable to implement this system in your legal department.
Contract Lifecycle Management (CLM) is the key to efficient contract management in all sectors, from the creation of legal documents to their electronic signature
A Contract Lifecycle Management (CLM) solution brings great benefits to companies when it comes to all the work involved in contracts. CLM is a tool that facilitates, economises and secures the management of legal documents of organisations in any sector and must have certain specific functionalities so that companies can make the most of this technology.
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.
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".
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.
Have you ever taken the time to decipher the legalese of a contract? How about a dozen? Every day lawyers are left trying to complete contracts without a standardised process, which raises the importance of efficient legal contract management.