Why In-House Legal’s Digital Transformation Starts with Your Contracts
By Rick Calston
CEO | Contract Logix
There’s no question the need for digital transformation accelerated greatly during the COVD-19 pandemic with no signs of slowing as we start to get back to normal. That said, many in-house legal departments have lagged in supporting their company’s digital transformation strategies, but it’s not for lack of trying.
While chief legal officers (CLOs), general counsels (GCs) and their in-house legal teams want to serve their clients in the most strategic and effective manner possible, too much of their valuable time is spent chasing down routine requests across various departments and managing multiple workflows involving numerous stakeholders, introducing complexity into any kind of transformation. All of this takes CLOs and GCs away from the critical task of mitigating risk and ensuring compliance.
Legal and legal ops teams are no exception and can take on a leadership role in their organization’s broader digital transformation strategies. But where to begin? With so many legaltech solutions available to help increase productivity and efficiency, it’s easy to get overwhelmed or invest in technology for technology’s sake. A more prudent and proven approach would be to start with the often-overlooked backbone of every modern organization: contracts. Why? Because contracts define and are foundational to your business relationships.