Leading CEOs are pursuing three concurrent objectives: increasing the speed of strategy execution, reducing organisational risk, whilst increasing productivity.
The legal function stands as both a bridge and a barrier between strategy and execution. Legal are overburdened, and have had next to no technology to enable them to deliver faster, more consistent and cost effective legal support. While their peers in all other corporate functions (e.g. HR, IT, Finance) have been empowered by technology – becoming an execution bottleneck.
As a result, research of over 16,000 end clients, suggests that legal functions are serving less than 30% of legal needs, and only 26% of internal clients are satisfied with the value proposition.
To address this the most progressive General Counsels have initiated a technology centered Legal Transformation agenda centered on developing automated legal self-service tools, and improving contract lifecycle management.
Those that have succeeded in these investments have dramatically higher productivity, lower external legal costs, and up to seven times higher internal client satisfaction.
The Solution – Legal Gateway
Plexus’ Legal Gateway platform is the world’s first Legal Operating System. It systematically increases productivity and client satisfaction, while streamlining the contract lifecycle. Included within the Gateway are all the key technology enablers:
– Intuitive legal automation ‘Apps’ to enable self-service by the business
– Elegant, risk based workflows to triage work and manage governance
– Integrated eSignatures (via Docusign) to accelerate execution
– Robust document management to seamlessly capture legal knowledge
– Legal performance measurement to provide actionable insights
It’s like putting your best lawyer, on their best day, on the desktop of every employee in your organization – 24 hours a day – to do the work that lawyers would prefer not to do.
Each client receives a customized deployment, based on their risk and governance, branding and precedent documents – at a fraction of the cost of serving the business in a traditional mode.
The Outcome – Frictionless Legal
Legal functions who have adopted Legal Gateway are:
– 64% more likely to be first quartile in productivity
– reduced external spend by as much as 30%
– increased the speed of execution on routine matters by over 90%
– end client seven times higher end client satisfaction
Interested in knowing more? Get in touch.