As your legal department deals with an ever-growing amount of data, the systems you use to manage that data also need to integrate the different systems used across the business by different stakeholders. In this post we will explore what data integration is, why it matters and give you some specific examples of how it can help your legal department deliver more value.
As businesses deal with more complexity brought on by legislative and regulatory change in increasingly multi-jurisdictional operations, legal departments must be ready on their side to deal with a rise in claims and litigation. In fact, according to the 2018 Litigation Trends Annual Survey from Norton Rose, more than 25% of businesses surveyed anticipated the volume of disputes will increase over the next year. .
Ensuring corporate governance and regulatory compliance especially when the business is growing and has operations globally, can be tedious. Not only do you need to adhere to laws, policies and regulations across different nations and jurisdictions, you must also deal with diverse corporate forms. This can make legal entity management a major challenge for legal departments, especially for those with limited resources. With the pressure to do more with less, it is upon general counsel to find innovative, low cost methods to better manage entities. Here are 4 ways legal departments can facilitate collaboration across the business, improve communication and dialogue among stakeholders, and be more effective in entity management.
The legal sector is undergoing transformation, driven primarily by the convergence of external trends. Increasing information complexity, client demands, economic forces, emerging technologies and shifting demographics all contribute to changes taking place today, and shaping the future. The Future Ready Lawyer Survey from Wolters Kluwer Legal & Regulatory, identify top five trends legal professionals expect will have the greatest impact over the next three years.
Inefficient contracting, from drafting, negotiation to signature, not only slows down deals and expose the company to risk, but can also increase costs. Here are some quick tips for improving contract management efficiency at each phase of the contract management lifecycle by taking a collaborative approach.
As the business keeps growing beyond borders (and different jurisdictions!), gaining clear visibility into the corporate structure is essential. Here is a list of 4 tips for all-sized legal departments, to better manage their corporate records to ensure governance and compliance while mitigating risks- to demonstrate value across the organisation they serve.