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Webinar Overview
Watch this webinar to discover how legal professionals can leverage CLM to improve efficiency and engineer enterprise-wide digital transformation – both within and outside their functional boundaries.
How Legal Can Use CLM to Drive Business Growth and Resilience
Speakers
Lindsay Staples
Senior Manager – Legal Operations and Paralegal Services, National Life Group
Craig Conte
Lead Partner for Legal Operate, Deloitte Legal
Evangelos Apostolou
General Counsel, Sirion
The Highlights
The legal sector is experiencing a transformative shift by adopting AI-powered CLM solutions. With the right CLM in place, in-house legal teams can play more of a strategic role in their organization and drive business growth by optimizing contract processes.
Here are four key takeaways from this webinar discussion that shed light on this significant change.
Enhancing Efficiency and Reducing Risk
CLM tools streamline contract processes, making legal departments more efficient. By automating routine tasks and using AI for contract review, these tools reduce the risk of human error and ensure compliance with regulatory standards. This shift saves time and minimizes potential legal and financial liabilities.
Fostering Collaboration Across Departments
One of the standout benefits of CLM is its ability to improve collaboration between legal teams and other business units. By providing a centralized platform for contract management, CLM breaks down silos and encourages cross-departmental engagement. Better collaboration ensures that contracts align with business goals, enhancing overall organizational synergy.
Driving Business Outcomes
AI-powered CLM technologies go beyond mere contract management; they drive business outcomes. By offering deep insights into contract data, a CLM can help organizations identify trends, manage risks, and seize opportunities. This strategic advantage positions legal departments as key players in business development and strategy formulation.
Implementing a Strategic Approach
Successful CLM implementation requires a strategic approach considering current needs and future growth. It’s crucial to select a CLM solution that addresses today’s challenges and scales with the organization. Moreover, stakeholder engagement and training are essential to maximize the benefits of CLM technologies.
CLM for In-House Legal Teams
Integrating with a CLM can be a significant leap forward for legal departments, transforming them from traditional support roles to strategic business partners. As legal professionals continue to embrace these tools, they unlock new avenues for business growth and resilience.
The future of legal operations is undoubtedly digital, with CLM at its core. Let us show you how CLM can work for your legal team.
Key Takeaway 2
Most of us have a drawer that houses a variety of random tools. We frequently use these tools around the house, and it’s nice to have them within easy access. But if you’re like most of us, that tool drawer is probably not organized, and you may be surprised by what you find in there after a few years of accumulation.
An organization’s contracts can be like those random tools in the drawer. They typically need many types of business contracts – and they need an efficient way to draft and manage them.
A lack of standardized contract procedures or understanding the types of contracts in your organization can result in inconsistent terms, missed deadlines, and overlooked obligations, hampering operational efficiency.
When it comes to contract management, business teams have often historically “set it and forget it” — but a contract can be a vital source of business insight when managed well.
Key Takeaway 3
Most of us have a drawer that houses a variety of random tools. We frequently use these tools around the house, and it’s nice to have them within easy access. But if you’re like most of us, that tool drawer is probably not organized, and you may be surprised by what you find in there after a few years of accumulation.
An organization’s contracts can be like those random tools in the drawer. They typically need many types of business contracts – and they need an efficient way to draft and manage them.
A lack of standardized contract procedures or understanding the types of contracts in your organization can result in inconsistent terms, missed deadlines, and overlooked obligations, hampering operational efficiency.
Impact
Most of us have a drawer that houses a variety of random tools. We frequently use these tools around the house, and it’s nice to have them within easy access. But if you’re like most of us, that tool drawer is probably not organized, and you may be surprised by what you find in there after a few years of accumulation.
An organization’s contracts can be like those random tools in the drawer. They typically need many types of business contracts – and they need an efficient way to draft and manage them.
A lack of standardized contract procedures or understanding the types of contracts in your organization can result in inconsistent terms, missed deadlines, and overlooked obligations, hampering operational efficiency.
Additional Resources
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