Legal Professionals Identify Top Trends with Impact; What Lawyers Can Do to Be Future Ready

published on Legal Innovation, Legal Technology

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.

Collaborative tools to improve contract management efficiency

published on Contract Management, Legal Collaboration

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.

4 tips for legal departments to improve corporate record-keeping

published on Compliance Management, Corporate Record-keeping, Entity Management, Legal Risk Management, Reporting

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.

Why collaboration is essential for the modern legal department

published on Legal Collaboration

Legal departments are under more pressure than ever before, and are constantly fighting fires on a number of fronts. Regulatory and legislative changes, political instability, changing market needs and growing competition all contribute to a growing deal of complexity for legal departments. To deal with these pressures, many legal departments are working harder and increasing resources. However, increasing resources can be out of the question for smaller legal teams – creating a compelling reason to find alternative ways to work smarter by transforming operations.

4 ways contract automation transform the way Legal works

published on Contract Management, Legal Technology

For legal departments with limited resources and budget constraints, managing a large number of contracts is cumbersome. But even at lower amounts proper management can be tricky. Let’s explore 4 ways automation helps you drive efficiency and compliance across the business while elevating your department to a value-delivering function.

7 tips to control legal costs

published on Legal Technology

Legal departments are under constant pressure to show value, and part of that is staying in control of legal costs. According to the 2019 Future Ready Lawyer Survey from Wolters Kluwer Legal & Regulatory, 50% of in-house lawyers identified reducing/controlling outside legal costs among their biggest challenges. Here are 7 tips to help your legal department overcome the challenge of reducing/controlling legal costs: