Archive: January, 2010

Bankers: Forget the Regulators, Focus on Risk

Last week there was a sell off of Wall Street and Banking stocks because the market fears that new Obama-administration regulation and oversight is going to reduce revenue and profits. The Wall Street Journal tells the sell-off story (New Bank Rules Sink Stocks) and the looming political battle (Obama vs. Wall Street) in case you missed all the fun.

Updated: How to ensure your document assembly project fails

As with all IT projects, there are a number of sure-fire ways to send a promising document assembly initiative off the rails. And that’s regardless of how good the technology is.

So, what can you do to turn a great idea into an unmitigated disaster?

Wanted: Guest Authors on Document Assembly and more

In the coming months, you’re going to see posts on this blog from some “new” authors and hopefully, welcome back some old ones. We took a look around the company and realized that we have a lot of experts with varied areas of specialty within Exari.

The billable hour debate rages on

A recent General Counsel Roundtable (GCR) analysis found that the best ways to control external legal spend are (in order of effectiveness):

  • Fixed fees (a set fee “for all work in a given subject area for a period of time”)
  • Risk sharing (bonuses/holdback for successful/unsuccesful matter completion)
  • Flat fees (a set fee for a particular matter)

In other words, to manage costs law departments need to align fee arrangements with desired outcomes rather than with law firm inputs (billable hours). Common sense? Apparently not. It’s certainly not how law departments pay for most of their external legal work.

How to gain competitive advantage from your sales contracting process

Sales contracting is an example of a cross-functional business process; one that involves multiple departments, often in different business units with conflicting agendas (and separate budgets). Sales will do whatever it takes to close the deal by the end of the quarter. Pricing’s sole focus is on profit margin. And Legal needs to avoid risk. Meanwhile, no one’s responsible for the end-t0-end process.