#ContractNegotiations can take up a lot of time, automating #ContractNegotiation steps where possible allows you to focus more on #ContractLifecycleManagement strategy. You’ve got yourself a deal!

Define #ContractNegotiation and how #LegalTechnology can empower #ContractManagement processes with internal and external stakeholders.

Read here: https://www.cobblestonesoftware.com/blog/what-is-contract-negotiation-and-how-can-legal-technology-help

#CobbleStoneSoftware #ContractManagementSoftware #Contracts #Contract #CotnractManager #ContractsManager #BusinessRelationships #Contracting #ContractNegotiations #NegotiationTips #InHouseCounsel #CLM #ContractLifecycleManagement #ContractAdministration #ContractAdministrator #ContractAdministrators

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Join us at Legalweek in New York next week and unravel the mystery!
Head to the 2nd floor and look for the table marked Legal Operations KPIs.

LegalOpsKPIs.com is a focused community for Legal Operations professionals passionate about using data and KPIs for effective decision-making. This community site features a comprehensive list of metrics, detailed information for each, tools and templates, real-life use cases, best practices and expert tips.

Come, say hello, and while you’re powering up your legal department with KPI knowledge, we’ll make sure your cell phone gets a power boost too!

Click for our video!

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Appointment of new leadership for the industry’s largest cyber incident response team driven by growing market demand

UnitedLex, a leading data and professional services company specializing in litigation, intellectual property, contracts, compliance, and legal operations, today announces the hiring of Praveen Jayant as Vice President of Incident Response. Working from the Gurugram (Haryana, India) office, Praveen Jayant will lead a global team of over 1,000 forensic examiners and data mining, technology, and review professionals delivering incident response services to a global client base.

“I’m thrilled to be joining a team that is continuously looking at how AI and other innovations can be integrated into our processes to reduce risk and response timelines for our clients,” said Praveen Jayant. “The UnitedLex team has delivered thousands of incident response projects, with a strong track record in helping clients meet or exceed notification deadlines while navigating complex regulations.”

A legal services and eDiscovery industry veteran, Praveen Jayant joins UnitedLex from Epiq where he spent 11 years in senior operations leadership roles, most recently as Senior Director of its India operations. Earlier in his career, he held senior data services and eDiscovery roles at HP/Autonomy, Iron Mountain, and Stratify.

UnitedLex’s Incident Response team works 24/7/365, leveraging programmatic extraction of structured and unstructured data sources to minimize human review, accelerate delivery timelines, and provide price predictability and certainty. UnitedLex maintains incident response panel seats with dozens of insurance companies and breach counsel and has deep experience managing the complex regulations and notification reporting timelines required by states, HIPAA, the Office for Civil Rights, and Attorney General.

“Praveen’s extensive experience in incident response, data services, and operations made him a natural fit to lead our team, which is the largest in the industry,” said James Schellhase, UnitedLex CEO. “With Praveen at the helm, we will build on our proven performance driving efficient workflows that allow clients to understand the extent of exposed sensitive data when time is of the essence.”

Praveen Jayant adds to a string of key hires, including James Schellhase as the new CEO, Rajitha Boer as Chief Client Officer, Renee Meisel as EVP and General Counsel, and Jeannine Whittaker as SVP, Business Development, among others. In 16 years, UnitedLex has grown from five employees to more than 3,000 across nine offices in 26 global jurisdictions, including a well-established team of over 1,600 operating across two locations in India, Gurugram and Bengaluru. The company’s more than 600 clients include 25 percent of the Fortune 100 that have a combined $2 trillion in revenue.

On February 15th at 1:00 pm ET, UnitedLex is hosting a webinar, Cyber Incident Response: Practical Guidance & Insights From the Trenches, featuring leading data privacy and cybersecurity counsel from the Potomac Law Group, PLLC and Sidley Austin, LLP, and UnitedLex Senior Vice President Josh Hass. The discussion, moderated by UnitedLex Senior Vice President, Litigation, Derek Duarte, will cover approaches for rapidly responding to a cyber incident within compressed timeframes.

To learn more about UnitedLex, visit www.unitedlex.com. Visit  www.unitedlex.com/incident-response/ for information about its Incident Response services.

About UnitedLex

UnitedLex is a data and professional services company delivering outcomes that create value for high-performing law firms and corporate legal departments in the areas of digital litigation, intellectual property, contracts, compliance, and legal operations. Founded in 2006 with a mission to push the boundaries of legal innovation, we provide solutions that enable measurable performance improvement, risk mitigation, revenue gain, cost reduction, and digital business synergy. Our team of 3,000+ legal, data, and technology professionals supports our clients from operational centers around the world.

Media inquiries please contact Susan Clayton Hammann, Director, Strategic Communications: susan.hammann@unitedlex.com.

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Mitratech, a global compliance technology leader for legal, risk, and HR teams, recently unveiled a series of new AI-driven technologies following the 2023 launch of PlatoBI, an embedded analytics platform powered by Snowflake. The debut of the PlatoBI Legal Spend Dashboard, AI Text Summarization, Natural Language Search, new acquisitions, and more mark a momentous year of technology innovation for the company.

The announcement also follows a powerful close to 2023 for Mitratech, who saw double-digit growth and a 35% year-over-year increase in research and development investment.

You can read the full announcement here.

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Experience legal staffing made easy with our specialized services designed for law firms and enterprise clients. Whether you’re looking to solve complex case demands, staff unwieldy matters on demand, or grow your firm by filling in legal staffing gaps, we’ve got you covered. Say goodbye to the burden of finding the right legal pros with our efficient, on-point solutions.

Join us at Legalweek at booth#3015, and we will get the monkey off your back!

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Increasing investment in legal technology shows no signs of slowing down. In the Association of Corporate Counsel’s (ACC) 2023 Legal Technology Report, 78% of the respondents called legal technology a “must-have” and 2022 research from Gartner predicted technology will make up 12% of the average legal department’s budget by 2025. And while legal technology offerings like contract lifecycle management and e-billing often top the lists of most-used technologies, more and more legal departments are looking to outside counsel management tools.

That’s why we created an innovative outside counsel decision-making platform that empowers legal teams to make more confident hiring decisions when it comes to their outside counsel, preferred panels and law firm relationships. Scout uses artificial intelligence (AI) to do the heavy lifting to collect, structure and analyze law firm data, allowing legal operations professionals and in-house counsel to spend more time assessing key information and making decisions that provide ROI.

HOW DOES IT WORK?

Scout uses AI to quickly collect and analyze data from disparate sources, structuring it in a way that makes it easily searchable and digestible. For legal departments dealing with the growing pains of managing unstructured data, Scout can take that data in its current disorganized state, organize it and make it actionable.

After structuring the data, Scout puts all of the key information corporate legal departments need to make outside counsel decisions at their fingertips. The platform centralizes data in an intuitive user interface, making it easy to search, track, and review everything you need to make the right decision, whether that is information on expertise, experience, performance, locations, certifications (e.g., diversity) or anything else.

WHY BETTER OUTSIDE COUNSEL DATA MATTERS

Better data improves decision-making. This has been known in the business world for years. The largest companies in the world use data to make decisions that create more value, from determining where the next Starbucks location should be to improving training programs for Google employees.

Whether your legal team is in the initial stages of leveraging data for better decision-making or you already have a robust process, improving your outside counsel and legal services provider data makes an immediate impact on the business. Over $700 billion is spent every year on legal services across the globe and, chances are, a significant chunk of that legal spend could be optimized if the legal operations professionals and in-house counsel responsible for it had more insight into their options.

BENEFITS OF “DECISION-GRADE” OUTSIDE COUNSEL DATA

Legal departments at companies as large as the Fortune 10 use Scout to take their outside counsel data and make it “decision-grade.” What does that mean? It means by structuring outside counsel relationship data and bringing it into one intuitive platform, legal teams can confidently align their hiring and legal spend decisions with their organization’s goals, and spend less time doing it.

The benefits of using Scout to make your data “decision-grade” include:

Centralizing key information about outside counsel relationships. Law departments can get as granular as they like with data points, including combining information from billing systems, expertise and experience data, internal reviews and more. All of this data is searchable for law department users in Scout’s easy-to-use interface.

Clearly surfacing impactful data, such as performance reviews. Scout enables and tracks internal reviews of attorneys and firms, presenting them in a clear visual interface that can be understood at a glance. Additionally, users can build their own structured review process in the platform, ensuring important performance data is recorded at regular intervals, preserving institutional knowledge and improving future decision-making.

Quickly finding best-fit firms for new matters. Being able to compare factors such as expertise, location, rates, past performance and any other data points that are important to your legal team means you don’t have to go digging through spreadsheets and disparate systems to find the right provider for your next project. Beyond optimizing legal spend, companies can also align their hiring with important internal initiatives (e.g., finding law firms with diversity or environmental certifications).

THE IMPACT OF BETTER OUTSIDE COUNSEL DECISION-MAKING

Large companies use Scout to achieve their outside counsel hiring goals. As an early adopter, Hearst’s legal department finds that the platform helps them “more quickly and effectively identify the attorneys it needs for external legal work,” according to Legal Dive. In addition to finding the right fit for their new matters, Hearst also uses it to bolster other legal department initiatives, such as their outside counsel rate review process and diversity, equity and inclusion goals. The team also found that implementing Scout saved them an estimated 325 hours annually—roughly two months of work for a full-time employee.

And, while cost savings were not the primary goal of their Scout implementation, both An Trotter, Senior Director of Operations in Hearst’s Office of the General Counsel, and Jessica Williams, former Senior Operations Manager (who recently moved to FanDuel as Director of Legal Team Strategy and Operations), agreed that it’s helpful for that goal. “The sooner you’re getting lawyers on a case and the sooner you’re getting them integrated into that case, the better your end results are going to be,” Williams explained.

If you’re curious how you can supercharge your outside counsel data collection and analysis project with an AI-enhanced platform like Scout, request a demo.

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The X1 team is excited to be exhibiting at Legalweek 2024 in New York where our solution specialists will be demonstrating X1’s automated index-in-place data discovery solutions for legal, compliance, governance and investigation purposes.

Visit the X1 booth #1219 in the Rhinelander hall, January 29th – February 1st to learn how X1’s unique solution capabilities for both on-premise and cloud data sources can help you dramatically reduce eDiscovery costs and ease your workflows like no other.

Drop-in for a demo: See how X1’s lightning fast search and targeted collection of data, powered by our proprietary index-in-place solution capabilities, with X1 Enterprise Collect are making waves in the industry

Chat with us in-person: Ask us how law firms, corporations, government agencies, and global enterprises are using X1 to remotely search, analyze and collect data in-place with unmatched support for MS 365 data sources (No E5 license required!)

Schedule a meeting: Contact us to arrange a meeting with members from our Executive team. The X1 team is ready to help solve your data discovery challenges!

We look forward to connecting with you and to sharing more information on our leading-edge solution capabilities at Legalweek 2024!

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Accomplished software executive to spearhead the next phase of growth and customer success.

Houston, TX – January 16, 2024 – Onit, Inc. announced that longtime software executive Michael Farlekas will join the company as Chief Executive Officer, effective March 1, 2024. Onit is the leading provider of legal workflow solutions for enterprise legal management, contract lifecycle management, and business process automation. Current CEO and co-founder Eric Elfman will move to the role of Vice Chairman of the Board of Directors.

“When Onit was founded thirteen years ago, we had an ambitious goal to make legal a strategic partner to the business. Since then, we have become a recognized market leader, serving over 3,000 customers globally, providing hundreds of workflow automation applications and end-to-end solutions for Enterprise Legal Management and Contract Lifecycle Management. I’m excited to welcome an individual with Michael’s deep experience in scaling growth businesses to lead this next chapter of Onit’s journey and look forward to supporting him and the team as a member of our Board.” said Mr. Elfman.

Mr. Farlekas will lead all aspects of the company, focusing on driving customer value and accelerating the adoption of modern, legal-related business processes through automated, intelligent, and comprehensive software solutions. He brings to Onit an extensive track record of successful executive leadership, boasting over two decades of experience in sales, marketing, and leadership within the realm of enterprise software and operations.

Most recently, Mr. Farlekas led E2open to unprecedented growth over the past eight years. As CEO, he completed fourteen acquisitions to grow the customer base to more than 420,000 manufacturing, logistics, channel, and distribution partners through a network tracking over fourteen billion transactions annually. Previous executive roles include successful stints at Roadnet Technologies and RedPrairie.

“I am honored to join Onit and to have the opportunity to work with our customers and talented team,” said Mr. Farlekas. “Onit today has a market-leading global footprint and a strong passion for customer satisfaction and innovation. I am committed to building on this great foundation and leading the company towards scalable and profitable long-term growth in the industry.”

“We are delighted to welcome Michael to the Onit team,” said Mike Velcich, Partner at K1 Investment Management. “He is a proven business leader with an excellent track record of scaling businesses for the long term. We look forward to working with Michael to accelerate Onit’s momentum, fostering continued expansion and value creation for customers and stakeholders.”

About Onit

Onit, Inc. is a global leader in AI-enabled workflow automation solutions for legal, compliance, sales, IT, HR, and finance departments. Companies can transform best practices into smarter workflows, better processes, and operational efficiencies through Onit’s enterprise legal management, matter management, spend management, contract lifecycle management, and legal hold solutions. It helps transform how corporate legal departments with mid-market to Fortune 500 companies bridge the gap between systems of record and systems of engagement.

For more information, visit onit.com.

About K1

K1 is a global investment firm that builds category-leading enterprise software companies. K1 partners with strong management teams of high-growth technology businesses to help them achieve successful outcomes. With over 125 professionals, K1 and its operating affiliate, K1 Operations LLC, change industry landscapes with operationally focused growth strategies designed to rapidly scale portfolio companies. Since the inception of the firm, K1 has partnered with over 200 enterprise software companies including industry leaders such as accessiBe, Atera, Checkmarx, Complysci, ControlUp, Emburse, Employ, Granicus, HR Acuity, IronScales, Onit, RethinkFirst, Reveal-Brainspace, RFPIO, simPRO, Smarsh, Technomile, XTM International and Zapproved.

For more information, visit k1.com and follow K1 Investment Management on LinkedIn.

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Anaheim, CA (Jan. 29, 2024) – Winnow Solutions, LLC announces the development of Winnow AI, a groundbreaking AI-powered legal search assistant designed to streamline compliance for banks, lenders, and financial institutions. The company unveiled the new product during Legalweek in New York on Monday.

Click for full press release.

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