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As a business owner, you will have to reach agreements with specific individuals and organizations. Contracts will have to be signed and managed. You will find CLM software very handy, as it eases the entire process of contract management from start to finish. The Benefits of Data-Driven CLM The CLM software comes with a contract data management system that allows you to have efficient documentation of contracts. It also helps you in monitoring your business…
Any in-house counsel can tell you: corporate legal departments aren’t like law firms embedded in a business. They’re an extension of the business itself — and they’re driven by many of the same fundamental forces to become streamlined, more competitive, to innovate and evolve. But legal departments aren’t like other parts of the business either. […] The post How Legal Departments Can Make the Most Out of Data Analytics appeared first on Exigent.…
The benefits of Contract Lifecycle Management can only be realized if you go beyond just implementing in baby steps. It’s time to find out where you are along the Contract Management Maturity Model. How mature is your contract management strategy? Is it still in its infancy – you know it’s there, but it doesn’t really […] The post Think You Are Mature Enough? The CM Maturity Model Might Not Think So appeared first on Exigent…
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As a business owner, it is only natural that you are always on the lookout for ways to improve your business. In the present day, a lot of companies are turning to automated document assembly as a means of staying competitive and taking their growth to the next level. What Is a Document Assembly? Document assembly (also known as document automation) is a software that allows you to generate electronic documents with the aid of…
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Article originally printed in Texas Lawyer, September 16, 2020 In early June, we looked at the impact of COVID-19 and collapsed oil prices on Texas businesses. At that time, forecasts indicated continued losses in the energy, health care, legal and other sectors, more layoffs, and an uptick in commercial litigation inside and outside of the bankruptcy courts. As we close out the third quarter and the economy cautiously reopens, many of these predictions have…
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  Key-Client Programs: How Law Firms Apply Technologies to Create a Win-Win for the Firm and Key Clients Law firms have long relied on key-client programs to grow the top line, elevate their position in highly competitive markets, and understand and satisfy the needs of prestigious anchor clients. Although many firms have implemented key-client programs, very few actually provide a noticeably elevated level of service to anchor clients. Successful key-client programs must be mutually beneficial,…
A few weeks ago New Zealand’s stock exchange was forced to close for four days due to a concerted cyber attack. Cyber attackers target law firms as well. Remember the ‘Panama Papers’ incident from a few years back? In that case, tens of thousands of confidential and privileged documents located in a now discredited and wound up law firm were released, partly due to software that had not had necessary updates in several years. …
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Covid is impacting almost every industry, including legal. The law has traditionally been a conventional and ‘old-school business’ but the pandemic triggered a series of unlikely changes in the way legal services are provided. The world came to a halt, so did the courts and other dispute resolution institutions, but gradually we found our stride, settled into our new “WFH” culture and welcomed in new technology. In fact, in its latest guidance, the International Chamber …