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Legal contract management, or contract lifecycle management, refers to the process of managing the entire lifecycle of a legal transaction - from initiation and drafting through to negotiation, execution and archiving. It plays a vital role in countless organisations, however, one that comes with numerous inherent challenges and risks.
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The COVID-19 pandemic has led to an unprecedented transformation in the modern law firm, where conducting business and working from home has quickly become the new “normal” for millions of lawyers and staff across the world. While the move to remote working happened swiftly, it’s unlikely that law firms will return to traditional ways of working any time soon. To be successful in the long-term, law firms need to take a structured and technology-driven approach to enabling their remote workforces and advising their clients, wherever they may be.
Here, we share five ways in which you can start preparing your law firm for a future of remote work.
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As we collectively transition to a new virtual world of work, digital means of executing documents are becoming increasingly popular. With more employees and clients working from home, the traditional approach of executing hard-copy legal documents has become much more onerous. Fortunately, today’s technology makes it easier than ever to transition from age-old business practices to more efficient, modern means of working.
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For today’s law firms and legal providers, knowledge is everything. Think about it - almost every client interaction from your firm relies on some form of knowledge, whether it be legal knowledge, client knowledge or organisational insights.
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The arrival of the COVID-19 pandemic has made one thing very clear: traditional ways of working will forever be changed. As law firms across the globe partake in the world’s biggest work-from-home experiment, many are quickly realising the importance of digital transformation.
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Traditionally, KM has centred around organising and managing matter-centric documents. However, as the legal landscape has evolved, so too has KM itself. Savvy firms are now looking to KM to deliver integrated and automated systems that enhance client service, drive firm growth and quickly adapt to the changing needs of the market.
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In today’s highly competitive legal market and constantly changing regulatory environment, law firms must be able to thoroughly evaluate new business, quickly onboard new clients and ensure compliance at every step of the way.
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We look at the ways in which firms are putting automation to work to keep business moving forward as usual, even in times of uncertainty.
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As of March 11, 75% of companies reported experiencing supply chain disruptions in connection with the pandemic, with more than 60% of businesses subjected to delays in their orders from China.
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In a recent report, market researcher Forrester predicted that 2019 would be the year digital transformation is put into action, addressing issues around improving customer experience and focusing on a client-driven model that builds on a foundation of artificial intelligence (AI) to automate repetitive processes
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The document management system (DMS) is a central component of a firm’s IT systems. When looking to upgrade, a robust test approach will provide confidence that the new system will work effectively.
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The word collaboration derives from the Latin com and laborare (to work together). In simple terms, it means working with someone to produce something. It is also defined to as “traitorous cooperation with an enemy”, but in this article I am going to assume we will not need to investigate collaborating with our enemies!
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Delivering knowledge management productively to fee earners today requires a consumer appstyle approach, says Simon Pecovnik, VP of product management, iManage RAVN
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Fraser Mayfield, head of EMEA at Iridium Technology, says learning to price your work more collaboratively can reap some real rewards.
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Nearly a year ago, SeeUnity and HighQ partnered to empower our clients with industry-leading legal tech integration.
