Well known legal department consultant, Rees Morrison, reminds us of the four key challenges contract management poses for in-house lawyers:
- Standardizing and simplifying contract drafting.
- Setting policies regarding legal department review of contracts.
- Streamlining contract negotiation.
- Facilitating the company's adherence to its contractual obligations.
Morrison notes the role of document assembly in addressing the drafting issue. Interestingly however, all four issues can actually benefit from a document assembly solution.
It’s one thing for us to say that we can help you improve your business. It’s entirely different for you to hear it from someone who has already succeeded in making their own business more profitable.
Les Doel, a manager at London-based Lloyd’s broker, Croton Stokes Wilson Ltd., recently spoke with KM World Magazine about his experience with document automation.
Do you work in a large company or law firm? If so, be sure to download the webinar recording on how Dow Jones and DLA Piper have benefited (in quite different ways) by automating the sales contracting process.
Our Chief Technology Officer (CTO) Justin Lipton has begun blogging over at CIO.com. From time to time we’ll share Justin’s posts in this blog as well. Here’s his most recent:
A mistake in a Word document has caused considerable damage and embarrassment to a publicly listed company in New Zealand. I recently read this post about an unfortunate comment that was left in a company’s annual financial statement. It reminded me how careful we need to be when using generic tools such as Word to produce documents.
As technology and the economy have created more and more pressure to close deals faster with less cost, innovative sales executives are looking for ways to accelerate their sales cycle without increasing headcount and costs.
Although document assembly has its origins in the world of law firms and legal contracts, it has more recently been pressed into service as a document automation platform in the document-intensive insurance world. After all, an insurance or reinsurance policy is indeed a contract.
If you are interested in document assembly and other legal technologies, which you probably are since you are reading this, here are some other blogs you may want to check out.
At ILTA '09 yesterday, Ron Friedmann 'live blogged' (no, I didn't just invent that term) a panel discussion on Technologies That Will Disrupt Traditional Legal Practice, lead by Richard Susskind. By all accounts, the session was very well received. Below is my take on some of Susskind's key points. (If you're interested in the future of legal practice I urge you to read Ron's full post.)
The Billable Hour is still under attack in the nation’s press and real change seems to be taking hold. According to several recent blog posts and the Wall Street Journal, corporations are using the recession to structurally change the way they acquire legal services.
Exari CTO Justin Lipton recently wrote about the potential demise of MS Word on the CIO blog after reading this article. In case you missed it, we are reposting it here.