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By streamlining mundane, repetitive processes into tasks that can be completed in seconds, AI has transformed the way legal teams operate, freeing up more of their time to focus on strategic work which moves the business forward. So, lets break down what an embedded AI experience looks like, and why it’s more valuable for legal teams.
A well-optimized legal team acts as an accelerator for the business: supporting core functions, unlocking opportunities to scale, and driving strategic outcomes. On average, legal teams spend more than one day per week on tasks such as email searches, managing invoices, contract reviews, and approvals. What is legal friction?
Legal teams have a critical role in modern organizations, acting as both protectors and enablers. By using a centralized system which is designed to manage legal matters faster and more strategically, legal teams can save time, reduce risks, be a better partner to the business and produce better business outcomes.
It is now imperative for legal leaders to operate at the same or higher levels of sophistication in leadership, management, and operations as our peers on the business leadership team. The majority of legal team work can be considered as a matter, and this work is often unaccounted for in reporting and technology solutions.
LawVu is thrilled to announce a new partnership with DWF , the global provider of integrated legal and business services. DWF and LawVus complementary solutions and tight working relationship means that legal teams of all shapes and sizes can access the right technology, advice and support they need to thrive.
As more teams experience the power that these tools can have on their efficiency and strategic impact, uptake is steadily on the rise, with 44% of legal teams now using generative AI and 30% planning to include it in their upcoming tech implementations. What is a single source of truth?
The combination of these factors is creating problems for cost-conscious general counsel and legal operations leaders, and helps explain why legal teams are monitoring outside spend more closely and seeking innovative ways to control costs. At the same time, firms rates continue to increase at a significant pace.
This article was created from a webinar hosted by In-house Connect in which David Lancelot, CLO and EVP Advocacy at LawVu, and Hayley Day, Senior Director at Morae, explored the why behind data-drive leadership. Click here to replay the webinar. You go into a company and it’s okay, everybody’s using this terminology.
?. LawVu is a New Zealand company that says it is revolutionizing legal operations by waging war on a multiplicity of point solutions and providing in-house legal teams with the first truly connected platform for matter, contract and spend management. . is LawVu’s biggest market, he says. . Thank You To Our Sponsors.
As a leading provider of legal technology software, LawVu maintains close contact with our customers and the broader in-house legal community, ensuring we are always aware of emerging trends and able to deliver on our mission, which is to support and accelerate the work of the worlds corporate legal teams.
New research exposes the millions in operational costs shouldered by businesses as a result of under-resourced in-house legal teams and presents a critical opportunity for organizations to drive revenue by investing in legal as a powerful accelerator of growth. To download your copy of the white paper, click here.
Where and how we work has become a worldwide conundrum in recent years, and in-house legal teams are discovering that like most other industries, they are expected to do more with less in both human and financial terms. For in-house teams, this includes managing requests, projects, documents, deadlines, communications, billing, and workflows.
As legal workloads continue to grow in volume and complexity, in-house teams are under more pressure than ever to manage their work efficiently and make data-driven decisions which deliver strategic value to the business. Effective matter management is critical for in-house counsel. What is a legal matter?
In-house legal teams come in a variety of shapes and sizes, and often originate from humble beginnings. What is the function of an in-house legal team? To understand the optimal way to structure an in-house legal team, its critical to first be clear about what legal is really there to do.
In-house legal teams are under more pressure than ever in 2024. As many in-house teams are discovering, one of the most effective ways to meet the rising demands on the legal function is to invest in optimizing the way that legal services are delivered to the business.
Just as no two businesses are identical, neither are any two in-house legal teams. While there are no set rules governing the detail of in-house job titles and reporting structures, there are a number of core functions which must always be carried out by any in-house legal team if they are to effectively serve the wider business.
Probably because I didnt know any better at the time, and unlike the majority of my graduating law school class, I started my legal career in-house. Due to the circumstances of my first real legal job back in 2000, I became GC (whilst 100 percent not qualified for that title) within weeks of starting at a Fintech Dotcom in London.
LawVu’s awards reflect their unwavering customer obsession, innovation and challenging of the status quo across product development, experience design, implementation, API integrations and customer support. “This recognition is a testament to the hard work and dedication of our team and the trust that our clients place in us. .
BlackBoiler now integrates with LawVu, so you can redline NDAs and contracts in minutes, without leaving your legal workspace. Effective contract lifecycle management is critical for in-houselegal teams. LawVu offers a robust CLM that delivers outsized value and time savings for corporate legal teams.
LawVu is thrilled to announce a new partnership with DWF , the global provider of integrated legal and business services. DWF and LawVus complementary solutions and tight working relationship means that legal teams of all shapes and sizes can access the right technology, advice and support they need to thrive.
With increasing pressure from high volumes of work, improving turnaround times and increasing operational speed will enable in-house legal teams to drive the success of the businesses that they support. Our customers already choose LawVu to help tame their contract workload and manage other legal work from one place.
Legal teams implement spend management and e-billing solutions to centralize their invoices and legal spend data in one place. Ultimately this speeds up workflows and creates critical visibility over spend data, helping teams report on and control costs for the work they do with outside counsel/legal service providers (LSPs).
BlackBoiler now integrates with LawVu, so you can redline NDAs and contracts in minutes, without leaving your legal workspace. Effective contract lifecycle management is critical for in-houselegal teams. LawVu offers a robust CLM that delivers outsized value and time savings for corporate legal teams.
Legal teams implement spend management and e-billing solutions to centralize their invoices and legal spend data in one place. Ultimately this speeds up workflows and creates critical visibility over spend data, helping teams report on and control costs for the work they do with outside counsel/legal service providers (LSPs).
We’re incredibly proud to accept this award from LegalTech Breakthrough among so many impressive peers, ” said Sam Kidd, co-founder and CEO of LawVu. It’s been an exciting year for us, working so closely with our customers as we innovate in an area which is so key for many corporate legal teams.
In today’s fast-paced business environment, legal teams are under increasing pressure to manage contracts efficiently and effectively. Moreover, without a centralized system, legal teams can find it difficult to gain a comprehensive overview of their workload and effectively showcase their value to the organization.
Email is great for communication but not so good for storing and managing legal work, especially when there’s more than one person in your team. A recipe for disaster when you consider a highly professional team juggling large volumes of complex work, with scarce resources under mounting regulatory and economic pressure.
Email is great for communication but not so good for storing and managing legal work, especially when there’s more than one person in your team. A recipe for disaster when you consider a highly professional team juggling large volumes of complex work, with scarce resources under mounting regulatory and economic pressure.
And legal teams have felt this pressure more than ever! Amidst the challenges, we delivered products and professional experiences that gave legal teams and lawyers the tools to thrive and be more successful. I love the updated reporting in LawVu. ” – LawVu early access customer 2. stay at the top of our game.
Organizations around the world rely on a multitude of software solutions everyday to connect teams, increase productivity and reduce costs. The average legal team uses at least five different tools , and it’s common for companies to use more than 130 SaaS solutions! But disconnected tech can have the opposite effect.
LawVu’s new integration with Microsoft Copilot represents a significant leap forward in legal technology and marks a new beginning: re-imagining legal workflows to allow businesses to tap into their rich LawVu repository and move legal work forward without having to leave their current Microsoft 365 tools.
With cost control a top priority for in-house legal teams in 2024, there’s never been a better time to start taking control of your balance sheet. And with legal teams spending hours every day on the administrative side of the outsourcing process, the hidden cost of internal inefficiencies can give outgoing bills a run for their money.
More than ever before, legal teams are leveraging AI to reduce overheads and position themselves as strategic business partners. But in a crowded marketplace of solutions, which generative AI legal use cases are no-brainers for in-house counsel? While there is a vast array of AI tools on the market, not all are made equal.
From cost efficiency to risk management, you can tell a lot about an organization from the way it manages its contracts – from manual processes, point solutions and ELMs at one end of the spectrum to consolidated workspaces at the other. Sticking to the old ways can also be kind on your budget – at least in the short term.
At a time when corporate legal teams are under pressure to handle growing workload and control costs with limited resources, effective and efficient handling of legal spend and related workflows – from budgeting and invoice review to reporting – is crucial.
For most corporate legal teams, adopting AI-powered technology is now no longer a question of “if” but “when” – but there’s more to successfully implementing AI than flicking a switch. However, in a market flooded with a complex array of solutions and use cases, it can be tough to know where to begin.
Book a custom demo of the LawVu Legal Workspace here. Creating impactful visual reports that will resonate with the business is difficult, requiring time or specialty skill sets that legal teams don’t have. New General Counsel Dashboard puts critical data at your fingertips Data is critical currency for today’s in-house counsel.
Under the pressure of tight budgets, cost control is a top priority for in-house legal teams. In the face of an uncertain economic global landscape, tackling legal spend has never been more vital for in-house legal teams – whatever their size. Here are three easy ways to cut your legal spend down to size.
Under the pressure of tight budgets, cost control is a top priority for in-house legal teams. In the face of an uncertain economic global landscape, tackling legal spend has never been more vital for in-house legal teams – whatever their size. Here are three easy ways to cut your legal spend down to size.
Legal technology 101: Tools for in-house counsel Your in-house legal team is probably already using technology in some form to support your everyday work – even if it’s just email and spreadsheets. With less time spent on low-value administrative tasks, legal teams can focus on aligning their work with wider business goals.
It’s therefore no surprise that contract lifecycle management solutions , many of which include a reporting functionality, consistently rank as the number one technology solution sought out by in-house legal departments ( ACC 2023 Legal Technology Report for In-house Legal Professionals ).
AI-powered legal technology has the potential to revolutionize and streamline the way in-house legal teams work, from integrated contract data extraction and contract redlining tools to e-discovery and more. Championing responsible AI principles is far more than ‘the right thing to do’ for corporate legal teams – it’s a must.”
Choosing the right solution for managing your in-house legal matters is a big milestone and once you’ve committed to your preferred vendor, it’s time to get it up and running. Understanding the importance of legal matters for in-house counsel and your teams greatest matter management needs is the first place to start.
The traditional approaches to legal matter management To recap, matter management encompasses all elements of internal and external work raised or requested, in progress, and executed within an in-house legal function, including how a legal team views, engages and collaborates on each matter – whether it’s completed in-house or outsourced.
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