Across every department in organizations, processes are ripe for transformation and this is especially true in the
case of Corporate Legal departments. Tracking legal requests in excel sheets and gathering input details over phone
calls from cross-functional teams results in deep inefficiencies – both with the accuracy of legal responses as well
as time taken for revert. Any time a document needs to be routed or searched for, or signed by hand, or whenever an
email has to be sent to chase down approvals, or a meeting convened, there are potential pitfalls involved.
Automation in corporate legal function provides benefits manifold. An efficient automation of corporate legal function enables attorneys and specialists to respond more quickly to increasing demands from clients and internal stakeholders. It also ensures that the operations are well-governed and also meets expectations on their multi-level compliance requirements.
Legal Request Management
The typical challenges in legal includes:
- Dangers of risk exposure and liability
- Burdens of corporate, regulatory and statutory compliance with penalties for mistakes and delays
- Costs of repetitive, high-frequency manual activities
- High scalability
- Need for increased collaboration and transparency between departments for gathering the right set of input data
Iqxora Legal Request Management application is the one-stop-solution for these challenges. Leverage Iqxora Legal Request Management application to raise requests for legal advice from across departments to efficiently engage legal teams and track the requests to closure with excellent First-Time-Right (FTR) values and SLA driven resolutions.
In large organizations, the number of contracts to be handled each day by legal teams can be quite staggering. A manual
excel or email based process to manage these, results in wasting valuable human resources and also exposes the
enterprise to costly mistakes.
When organizations have multiple divisions or offices, the inefficiencies become exponential as it takes huge efforts to get everyone on the same page. Clear communication is critical in ensuring successful legal operations. Without an efficient enterprise contract management system, contracts get siloed within departments or locations, making it impossible to coordinate and rationalize across the organization.
The Excel or email based process also falls short when there is a need to quickly locate a specific contract or find critical information. Moreover, the entire process creates tons of documents because of back-and-forth reviews, manual contract redlining, individual signed paper-copies etc. This not only creates difficulties with management of paper, it also is particularly harsh on the environment and organization’s go-green initiatives.
Enter Iqxora Contracts Management application!
Iqxora Contracts Management application is a holistic solution for creation, approval, storage, tracking and management of enterprise contracts. Includes modules for contract creation, approvals, redlining, electronic signatures as well as multiple prompt reminders before contracts expire. The associated dashboards in Analytics module gives a summary view of contracts maintained and executed with vendor / partner / customer organizations.