Posts about Legal Operations

How Automated Contract Review is a Game Changer for Data Processing Agreements and Standard Contractual Clauses

April 12, 2022

Automated contract review software entered the market just when we needed it the most. While legislation to protect consumer information privacy is crucial, given the rise in identity theft and subsequent lawsuits, rolling out this legislation has been anything but smooth. In the meantime, companies need to proactively define data use and protection to stay ahead of compliance issues. Data processing agreements and standard contract clauses are helping companies do just that.

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Assessing Risks in Finance Contracts: A Guide for the Banking Industry

April 7, 2022

Financial institutions write tens of thousands of contracts each year. Some are privately negotiated while others are negotiated through public exchange markets. Different types of finance contracts are drawn up to balance risks and rewards, but their review and negotiation processes should never be overlooked. Increasingly, artificial intelligence (AI) platforms are being implemented to standardize and fully redline financial contracts by type, saving time by performing more thorough risk analyses.

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Level Up Legal Proofreading Software with AI

April 5, 2022

With its ability to seamlessly detect spelling and grammar errors, Grammarly attracted attention in the business world when it was first released in 2009. As an effective and easy-to-use application, it cemented its reputation as a fundamental business tool for working with documents. 

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Best Contract Review Companies for Streamlining Your Legal Operations

March 31, 2022

Contracts are an essential component of any corporate legal department’s playbook. Fortunately, there are a number of contract review companies offering convenient and highly accurate services for legal teams. But with so many solutions available, it can be challenging to decide on the best fit for your needs. Here we’ll help you narrow down your options by discussing each one in more detail.

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Vendor Contracts Explained

March 24, 2022

Like any type of contract, vendor contracts require careful drafting, diligent review, and proper lifecycle management to ensure a smooth business relationship. This article details what vendor contracts are, how they are used, and how they are best deployed. Once the basics of vendor contracts are understood, next-level solutions like artificial intelligence (AI) platforms can be implemented to decrease risk and increase efficiency.

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Understanding Procurement Coordinator Roles and Responsibilities in Legal Departments Today

March 22, 2022

Over 500,000 people are working in procurement to coordinate logistics activities today. From creating proposal and bidding processes to researching vendors and preparing contracts, procurement coordinators ensure projects receive all the materials necessary for the timely delivery of cost-efficient and legally compliant goods and services. As the “coordinator” part of the job title infers, this position involves acting as a liaison between a company and its vendors. Increasingly, procurement coordinator roles and responsibilities are now using artificial intelligence (AI) technology to automate tasks and boost workplace efficiency. 

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Contract Analysis: What It Is and Why Innovation Matters

March 17, 2022

By definition, contract analysis refers to tracking information within a legal document. Contracts are assessed for commonalities, including boilerplate provisions or errors, which may require updating. Contract analysis is a vital part of running a successful business as it lays the groundwork for relationships, fits within the regulatory framework of the industry, drives daily activities, and provides protocols for resolving disputes.

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