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The Contract Certainty Blog

The Contract Certainty Blog

Numbers Don't Lie

The 2009 results of the AM LAW 100 describes a scenario of double digit revenue decreases for the majority of firms. The good news is that revenue per partner and profit per partner did not fall at the same precipitous rate. The bad news is that these measures were largely managed primarily through headcount reduction, compensation cuts, and fewer lawyers achieving partnership status. Adding to this bad news is the emergence of the alternative fee revenue model, the pressure on law departments to cut their external legal spend, and a general downturn in the economy.

Legal Departments Must Modernize

In today’s economy, companies are continually challenged by three major issues: Complexity, Dynamics and Speed. It is important to manage these challenges successfully in order to remain a top-performing company. Part of meeting the challenge includes the focus on long term success versus short term gains. It requires a way of thinking outside the box (executing against the trend) and a review of old habits-- how things have been done versus how things could be done.

Document Assembly is ... SEXY?

And the Academy Award for the best Document Automation Technology (for the fifth year in a row) goes to …Exari

Thank you Gwyneth, thank you Brad - wow this is great. You dream of these moments but never really think its going to happen, but here we are and, well, I’m lost for words. I just want to thank some of the unsung heroes behind the scenes that have made this all possible……

Faster, Safer NDAs & Sales Contracts

Sales and legal teams are investing excessive time and money creating repetitive, mission-critical documents. Experts indicate that, depending upon the industry, sales people can spend up to 25% of their time creating repetitive documents such as NDAs and sales contracts.

Continuous Improvement and Solvency II in the London Market

The London Reform Group just released their review of 2009 and plans for 2010. The key theme of the letter to CEOs from Chairman Barnabus Hurst-Bannister, is that progress has been made on key reform matters, but that “We are now engaged in the sort of continuous improvement exercise that all markets must pursue or risk being left behind by their competitors.”

How Sales Teams Can Book Revenue Faster

So, you’ve finally gotten your prospect to say “YES!” and it’s time to nail down all of the Ts and Cs. What’s the next step? You ask your legal department to draft a sales contract. But what if they’re too busy to get to your request right away? What happens to your deal?