In 2002 Gartner predicted that, by 2007, there would be a $20 billion market for Contract Lifecycle Management software and services.
Tim Cummins - CEO of the International Association for Contract & Commercial Management (IACCM) - has written a post suggesting why market growth hasn't met those expectations.
If you work with legal documents, you've probably had to contend with MS Word's outline numbering. In which case you may have also suffered the pain of your numbering spontaneously going haywire. Sound familiar? Then read on.
I just read Richard Susskind's take on Rio Tinto's legal process outsourcing (LPO) deal, which he describes as "ground-breaking."
In an effort to reduce it's annual legal bill by 20% (or around US$20M), Rio Tinto is outsourcing legal work to India. According to The Times, the work will include "tasks such as reviewing documents and drafting contracts."
Is your department innovative? This is the question being asked by Inside Counsel, a magazine for in-house legal departments.
Why is innovation important?
The answer, in a nutshell, is that innovation is what enables organisations to remain competitive. It's transformational in nature, enabling step changes in productivity (as opposed to incremental improvements). It's what drives progress. And in corporations, innovation is just as important in the legal function as in sales, procurement or HR.
The previous post ended by asking how banks could better handle unanticipated spikes in lending applications. Or more generically, how can a service provider respond effectively to an increase in client requests?
Though they may not realize it yet, the mortgage sector market share of ANZ, CBA, NAB and Westpac (at over 82%) is starting to cause them problems.
A larger number of companies every year are automating their document processes. In fact, people are realizing that document automation can really make the difference when it comes to boosting efficiency and reducing cost and risk.
As readers of this blog are aware, we’re always thinking about how document generation can improve business, contracts and their related processes. As users of Salesforce.com ourselves, it occurred to us how useful it would be to have sales contracts and other documents related to the sales process integrated into our CRM where we are already managing our sales-related activities.
Telstra has just splurged on promoting how they improve enterprise productivity. They purchased ALL the ad space in the 32-page Budget liftoff in today’s Australian Financial Review. This follows on from the detailed productivity research they commissioned earlier in the year.