Three Stages of Legal Digital Transformation

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HOW TO EVALUATE YOUR CURRENT DIGITAL STATE AND ADOPT TECHNOLOGY SOLUTIONS FOR SUCCESS

It’s high time for general counsels (GCs), corporate legal departments, and contract management teams to embrace technological innovation, change their operating models, and drive business performance, value, and growth. Check out ContractPodAi’s latest e-book. It will help you to embark on your digital transformation journey more successfully.

Download our e-book to learn more about:

  • Adopting and implementing leading-edge technology – like artificial intelligence and machine learning – for legal departments
  • Choosing the right technology vendor
  • Creating a blueprint – or roadmap – to achieve critical business outcomes, with the help of a digital assessment – or scorecard
  • Outperforming return on investment (ROI) benchmarks and determining how to measure success through key performance indicators (KPIs) and other metrics in legal digital transformation
  • How other GCs succeeded in their digital transformation projects

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Becoming a Digitally Mature Enterprise Has its Benefits

General counsels (GCs), corporate legal departments, and contract management teams need to embrace technological change. But legal digital transformation is much more than data and platforms. It is about the thoughtful use of legal technology to automate each phase of the contract lifecycle and offer deep visibility into agreement databases. A Gartner survey of 340 corporate in-house legal departments highlights the benefits of legal automation in terms of overall business success:

  • 33% reported that the biggest goal for executives is increasing the speed of legal work
  • 90% reported improvements in contracting speed thanks to legal automation
  • 89% reported that their organizations had met or exceeded their expected ROI after legal automation implementation

A Positive Change For Corporate Legal Teams

The legal industry continues to operate manually, using paper-based methods or Microsoft Excel spreadsheets. Naturally, many legal professionals are fearful of change. However, their traditional practices simply do not work when they have to handle hundreds of important legal documents at once. As ContractPodAi CEO and Co-founder Sarvarth Misra states: “General counsels, in-house legal
departments, and contract teams are not immune to the need for technological innovation, which continues to take hold in all aspects of consumer and corporate life. But digital transformation in law firms and corporate legal teams requires a significant paradigm shift.”

Businesses that choose to embark on a digital transformation project work more efficiently and effectively, and reduce overall costs. They stay ahead of the competition and remain fully prepared for any crisis. Those that do not simply fall further behind. And they will need to invest even more time and money in their digital transformation in the future.

Create Your Own Legal Digital Transformation Success Story

Now is the time for GCs, corporate legal departments, and contract management teams to ‘go digital.’ And the very first stage in legal digital transformation is readiness. In our e-book, you will learn more about:

  • Adopting and implementing leading-edge technology for the legal function
  • Choosing the right legal tech vendor
  • reating a blueprint – or roadmap – for your company to achieve critical business outcomes, with the help of a digital assessment – or scorecard
  • Outperforming return on investment (ROI) benchmarks and determining how to measure success through key performance indicators (KPIs) and other metrics in legal digital transformation
  • How other GCs succeeded in their digital transformation projects

Download our e-book today, and digitally transform. Also, find out how ContractPodAi can help evolve your current contract management system (CMS) and support your digital transformation journey. Along with trusted technology partners, our transformation team will guide you every step of the way. It will facilitate the migration of contracts and related documents, and the implementation of contract lifecycle management (CLM) solutions.

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