Leveling-Up Your Legal Operations

by Colin Levy |
Share:

The legal profession has historically seen itself as unique and exempt from the constraints and concerns that have dominated the business sphere. With the rise of technology and its role increasing in power and influence over how businesses run, the legal profession now is coming around to the idea of not being a cost center and the department of no to a value creator and the department of can do.

What has aided the legal department in transforming into a business partner and value creator, in part, has been the legal operations role. Yet, many persistent myths surround legal operations, the purpose it serves, and how best to develop such a function. Like most things, a legal operations function needs a solid foundation to grow.

It Starts with Hiring

The foundation begins by recruiting and hiring people who can speak both the “traditional” language of legal (words) and the “traditional” language of business (numbers and data). Legal operations individuals also possess both process improvement acumen and technological know-how that they can use to evaluate and improve existing processes and assess potential new tools to put in place to facilitate better productivity and efficiency. As for the specific backgrounds of legal operations professionals, they have diverse backgrounds. Some are former consultants or finance professionals. Others may be former attorneys or paralegals. All bring a wealth of experience working with legal professionals and the ability to bridge the gap between the legal, finance, and technology worlds.

Bridging the Business and Legal Gap

Although not a legal operations professional myself, I have often functioned in this role in the various legal departments that I have been a part of. Given their small size and the need for me to be a cross-functional business partner and enable business growth while also protecting the company against excessive levels of risk, this meant I needed to take on a variety of CLOC’s 12 Competencies outlined in its 12 Competencies Reference Model. Of these 12 competencies, two that I took on and developed for myself were knowledge management, managing outside legal spending, and technology management and support.

The Contract Management Conundrum

Contract lifecycle management is one area that illustrates these two competencies coming into play. As someone who has long lived in the world of contracts, managing a small number of them doesn’t seem to be an insurmountable task. Yet, that small number can and often does increase exponentially when working for a fast-growing company. As the number of contacts grows, so does the challenge of managing them (and so does the complexity of the contracts themselves)! Practically, this means that your manual management process may require something that is less time-consuming and more efficient.

Contract Complexities Pre and Post-Award 

Legal operations individuals know that drafting and negotiating contracts is one thing and that managing them is quite another. Managing them requires the input and support of several business functions since contract obligations have far-reaching impacts. This is where having the proper processes and tools in place can make a world of difference and allow for better and more strategic contracting. Managing contracts includes not just ensuring that the right people review the agreement and its terms but also tracking key milestones and deadlines and gathering data regarding common contracting pain points and preferred fallback clauses.

Choosing the Right Tech 

Technology can help here but finding the right technological tool can often be an overwhelming, time-consuming task in itself. This is where having a legal operations professional, or simply someone who can take on some of the duties of a legal operations role, can be immensely helpful. That person will have the experience and knowledge to navigate the contract management space and, ideally, after doing an audit of your company’s existing processes, be able to suggest ways to improve the processes and potentially integrate a new technological tool or service to help automate and expedite contract lifecycle management.

The importance of having individuals who can bridge the knowledge and skills gap between the legal, finance, and technology worlds cannot be overstated. Businesses do not operate in a vacuum, and neither should their individual departments. Legal operations effectively serves as the glue that brings these different teams together, especially when it comes to developing the right processes and selecting the best tools to be used by the right people.

If you are eager to learn more about this fast-growing and exciting space, join our session at CLOC on May 10, 2022 at 10:30 AM, Agents of Change: Leveling up Legal Operations to Maximize Business Growth. Here, you’ll learn how Adrienne Schaal, Head of Legal Operations at Tibco Software Inc. has scaled its Legal Operations function to support the enterprise. She’ll join Malbek team members Matt Patel, Co-Founder and COO, and Taeler Gannuscia, Product Marketing Manager, to dive into the following topics:

  • Hiring: Assembling the right Legal Ops team in a hot job market
  • Systems: Selecting the right technology partner to improve efficiency & collaboration
  • KPIs: Aligning legal metrics with business objectives

See you there!

You Might Also Like

Contract Management Term Glossary

There are many steps that businesses have to go through when creating and executing contracts. From ...

Read More
CLOC Talk: 3 Key Takeaways From CGI 2022

As the old saying goes, “What happens in Vegas stays in Vegas”, unless you’re talking about the ...

Read More
Crossing the AI Chasm: Obstacles to CLM Adoption Limits AI Application

To get some clarity and cross the contract AI chasm,  we have partnered with World Commerce & ...

Read More
Leveling-Up Your Legal Operations

The legal profession has historically seen itself as unique and exempt from the constraints and ...

Read More

Posts by

Post a Comment

Blog Authors

Alice Alfano is a Marketing Coordinator at ...

Allison Martyn is a Business Analyst who ...

Anna Lozynski is an award winning executive ...

Anne Moore has been helping customers automate ...

Anneliese Strout is a Principal Business Analyst ...

Becky Holloway began her marketing career in the ...

Betel Zewde was born and raised in Ethiopia and ...

Colin is a sought-after legal tech writer and ...

Dan Sloan has been helping companies successfully ...

Gary Zuder has been a trusted sales consultant to ...

Hemanth Puttaswamy is a technology entrepreneur. ...

Jaime has always been passionate about helping ...

Kevin Brening has been a SaaS enthusiast for the ...

Madhu is a technology visionary and an expert in ...

Matt Patel is considered an all-rounder who can ...

Taeler Gannuscia, Product Marketing Manager at ...