iManage Delivers Enhanced User Experience and Extended Capabilities for Distributed and Mobile Working

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Modern Document Management: How Law Departments Can Work Smarter. Read more. 

 

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The COVID pandemic has accelerated the need for businesses to rethink their workplace strategy with an emphasis on safety, location flexibility, employee experience, digital transformation, and facility cost reduction.  Creating an effective hybrid workforce requires a well-thought strategy that leverages technology should support organizational culture, which in turn drives engagement and productivity. Each individual component needs to work for both onsite and remote employee.

Smarten Spaces is a disruptive end-to-end SaaS Workplace platform with the latest technology to accommodate the new Hybrid workplace model. The technology is trusted by Fortune 500 companies in over 120 locations including New York, Chicago, London, Sydney, Helsinki, Moscow and Singapore. The Smarten Spaces platform is fully integrated with Microsoft, Kone and 45 other global solution providers.

Employees download the experiential Smarten Spaces Artificial Intelligence (AI) technology to their smartphones so companies can automate the entire back to work process while balancing between Work-From-Home and Back-to-Work. The solutions help companies manage their new Hybrid workplaces via a single pane of glass dashboard and offers real-time reports to maximize operational efficiency and can result in companies saving up to 30 percent of their office space costs. Jumpree 3.0, the AI-driven platform offers:

*Digital Workplace app: AI-based social distancing, pre-screening, contactless access, and visitor management, service requests, contact tracing
*Desk Management: Desk booking and allocation, real-time occupancy and utilization, space optimization
*Workforce Rostering: Creation of teams and cohorts, AI-based optimal seat allocation
*Demand and Supply: Recommendations on demand and supply in a flexible workplace, request more/less space, lease management, service requests
*Expenses & Charge Back: Dynamic allocation and tracking of cost based on utilization for the new workplace
*Asset Management: inventory, integrated with expenses, procurement, and relocation

About Smarten Spaces:
Founded in 2017, Smarten Spaces is the first company in the world to deliver an end to end SAAS solution for the digital workplace. It offers workplace safety and flexibility on a single technology platform to help businesses manage their spaces effectively. Smarten Spaces focuses on digitizing spaces for enterprises, commercial real estate, co-working, co-living and warehousing.

Smarten Spaces was named one of the “Top 3 Hottest Startups” by Singapore Business Review 2020 and one of the “Top 5 Most Innovative Startups Making Offices Secure” by the Business World.

 

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Explore our technology for ‘back to work’ and the future workplace. The AI & IoT technology is now being deployed by businesses across 40+ cities across the globe to make workplaces ready for back to work. It is an end to end solution for seat planning and booking with workforce rostering and workplace safety features. Smarten Spaces technology has been recognized as one of the top 5 most innovative startups making offices secure by the Business World.

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Companies can seamlessly shift to the new hybrid workplace and balance between remote work and the future workplace.

In a time where the COVID pandemic has forced businesses and its employees to veer from traditional working practices, opportunities have risen for companies to transform their workspaces and hours in order to continue operations whilst ensuring the safety of their workers and customers.

Earlier this year, Smarten Spaces, a global workplace technology brand creating future-ready spaces, announced the availability of Jumpree 3.0 – a fully integrated end-to-end software-as-a-service (SaaS) solution that helps companies get back to work and employees comfortable with the new workplace. Smarten Spaces can better meet the needs of users in the post-pandemic world, combining the latest innovative technology with a deep understanding of the cultural forces that shape workplace interactions and engagement.

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ne of the characteristics of the workplace of 2020 has been the lack of people in the office. COVID-19 saw a significant proportion of businesses adopt remote work in support of efforts to contain the pandemic.

Is there a better way, a smart way for businesses to organise their workforce so that they can optimise fixed assets like facilities?

Jones Lang LaSalle (JLL) forecasts that “upwards of 40% of today’s office assets need some form of enhancement to stay relevant.” The JLL report, Home and away: the new workplace hybrid?, suggests that during the COVID-19 period, 68% of employees were working from home.

FutureCIO spoke to Dinesh Malkani, founder and CEO of Smarten Spaces, how COVID-19 is forcing organisations to reimagine the workplace.

Smarten Spaces has built technology and platform to make smarter and better use of workspaces. Malkani acknowledged that technology penetration in space management remains low although the pandemic may be changing that.

“Every office is being re-done as people are moving towards the hybrid workplace. We happen to be a startup that has the entire technology solution ready to bring companies to hybrid working in the hybrid workplace.”

Dinesh Malkani

Sundar Nagarajan, head of Consulting at JLL, noted that the pace of digitization and adoption of automation in 2020 has accelerated businesses to 2023-2024 levels right away, adjusting decision-making and way of working – all in the name of revenue.

Malkani noted that the shift to a hybrid model of work is not entirely driven by COVID-19. Organisations have been studying this opportunity even before that. He did acknowledge that many such discussions floated around experimentations. He credits the pandemic as proving that it is possible to sanction work from anywhere without sacrificing productivity or risking security.

“Companies have been moving in the direction of being able to work from anywhere – in the office, co-working space, or home, in what we now classify as hybrid work strategies,” he concluded.

Challenges for leadership

According to Malkani, the challenge for CHROs is to ensure that they’re able to offer the notion of flexibility to all of the workforce. “They will then need to consider the policies and rules around such arrangements. HR teams today are grappling with the fact that we can now hire anyone from anywhere in the world, as we work remotely,” he added.

For CFOs and CEOs, the discussion will become mainly about cost considerations and the optimum use of whatever approach is taken by the company. The CIO’s task will be around the use of technology to facilitate hybrid work strategies.

Technology-led adoption

“To create a frictionless environment where workforce productivity is at its peak, a lot of data needs to be relooked at. The CIO will need to ensure that the environment and network are secure and that regulations are complied with,” he added.

According to Malkani, the pandemic has influenced what and how technology is being used in the workplace. Employee safety and the ability to find available space have become important considerations in the adoption.

“Incorporating technology is key in making it easy and essential for the user to address their concerns, and that’s when the adoption rate becomes high. Technology is no longer a nice to have. Beyond providing data, AI-incorporated technology that provides recommendations to business owners has a huge role to play in driving adoption rates,” he added.

He saw the shift to AI within the realm of workspaces as an essential ingredient to achieving a successful hybrid workplace that is very productive and cost-effective.

Click on the podchat player above to listen to Malkani share his opinion and recommendations on the better use of workspaces using technology.

  1. How do you see space-as-a-service and office decentralization changing the workplace of the future?
  2. But how do you see space-as-a-service and office decentralisation changing the workplace of the future?
  3. Analysts suggest that the post-COVID workplace normalisation will combine remote work together with the traditional office environment. How will this shift impact the way CIOs, CEOs, CHROs and CFOs these executives do their job?
  4. How does the CIO ensure that they are able to connect or to manage the workforce and the facilities that they use including network infrastructure, the applications, even when those persons are not in the actual enterprise facility, the operations itself?
  5. How do technologies like those of Smarten Spaces protect data privacy?
  6. What is the Smarten Space value proposition for mall operators?
  7. What will further drive the adoption of technologies, similar to what Smarten Spaces offers today?
  8. When you pitch a Smarten Spaces solution to prospective clients, what’s the typical objection that they would present to you?
  9. What do you see in terms of emerging technologies that will further influence the proptech market that you are in?

 

/by Smarten Spaces

Let AI technology be your friend to the #hybridworkplace as you enter the new year. Swipe to find out how you can not only save time and costs, but propel your team forward with automated floor plans and desk management organization. Book a demo today: https://smartenspaces.com/

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The Session, Featuring Software Company Legal Experts, Will Reveal How AI Can Increase Productivity by 50% or More for Corporate Legal Departments

HOUSTON, January 19, 2021 – Onit, Inc., a leading provider of enterprise workflow solutions, including enterprise legal management, contract lifecycle management and business process automation, today announced that experts from Onit and Adobe will present on AI and contract management at the first session of 2021 for Legalweek(year). The CLE-eligible virtual discussion, scheduled for Tuesday, February 2, at 3:45 p.m. EST and titled “The Potential Impact of AI on Managing Contracts,” will center on the challenges of contract drafting and review and how AI and automation can address them.

The pandemic has underscored the growing need for efficiency and cost savings for corporate legal departments. Contract management is a process ripe for digital transformation, as manually reviewing and drafting contracts can take up to 70% of an in-house legal department’s time. When AI is properly and strategically applied, the results can be substantial. For example, in a recent study, new AI users became 35% more efficient with their time and 51.5% more productive and users discovered cost reductions of 33% related to contract processing.

A panel of experts will tackle this topic, examining the impact of AI and automation on contract lifecycle management. They’ll also discuss how lawyers can dramatically streamline many activities typical of contract work, such as redlining, comparing clauses to corporate standards and ensuring that fine details comply with corporate policy. The speakers include:

  • Stasha Jain, Vice President of Legal and Compliance for Onit, an attorney with extensive experience for organizations including Onit, ZS Associates, Hewitt Associates and Venture Law Group
  • Nick Whitehouse, General Manager of the Onit AI Center of Excellence, an AI expert focused on digital transformation for legal organizations
  • Jean Yang, Vice President of the Onit AI Center of Excellence, a technologist who began her career as a solicitor and was named the Emerging ICT Leader of the Year 2019
  • Letitia Hsu, CIPP/US, Associate Legal Counsel, Adobe Inc., in-house counsel within Adobe’s product legal group with experience in privacy, data security and intellectual property matters

To register for Legalweek(year) visit here.

Onit, AI and Contract Lifecycle Management

Onit recently launched two new AI-enabled technologies. Precedent, an artificial intelligence platform, reads, writes and reasons like a lawyer while automating and improving legal and business processes. ReviewAI uses artificial intelligence to quickly review, redline and edit all types of contracts. Nonlegal business users can automatically receive approved contracts via email or a self-service portal in less than two minutes. Lawyers and contract professionals can use the ReviewAI Word Add-in to automatically review, redline and edit contracts, including NDAs, MSAs, SOWs, purchase agreements, lease agreements and more against corporate standards. To schedule a demo or learn more, visit here.

Visit Onit During Legalweek(year)

Legalweek(year) attendees are invited to join exclusive demonstrations of Onit’s AI and automation technologies. Onit will be holding group and individual product demonstrations of ReviewAI and Precedent, as well as its solutions for Contract Lifecycle Management, Enterprise Legal Management and Legal Service Request. Email marketing@onit.com for more information or to schedule an appointment.

About Onit     

Onit is a global leader of workflow and artificial intelligence platforms and solutions for legal, compliance, sales, IT, HR and finance departments. With Onit, companies can transform best practices into smarter workflows, better processes and operational efficiencies. With a focus on enterprise legal management, matter management, spend management, contract lifecycle management and legal holds, the company operates globally and helps transform the way Fortune 500 companies and billion-dollar corporate legal departments bridge the gap between systems of record and systems of engagement. Onit helps customers find gains in efficiency, reduce costs and automate transactions faster. For more information, visit www.onit.com or call 1-800-281-1330.

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Managing risk at an organization is a full-time job, especially for a general counsel (GC) or chief legal officer (CLO). As a company’s chief internal lawyer, they are expected to provide legal advice on a vast range of subjects – legal rights, risk mitigation, compliance with new and existing laws and so much more.

If that weren’t enough, GCs and CLOs are also expected to manage the organization’s legal matters, oversee outside counsel spend, conduct legal research, review internal litigation strategy, and be the ultimate approver and keeper of the organization’s contracts. Despite handling all these critical, sensitive matters, legal departments are often seen as “cost centers” and therefore are forced to do their challenging jobs without all the resources they need to succeed.

Technology, automation and artificial intelligence are key to doing more with less and streamlining processes, particularly when it comes to contracts. Contract lifecycle management (CLM) tools allow busy lawyers end-to-end control over contracts, freeing up time to focus on other tasks in the process. They can also play pivotal roles in helping corporate legal departments reduce contract management costs. For example, Pearson’s commercial transactions shared service center for more than 10,000 users worldwide achieved a 35% cost reduction and 30% improved contract turnaround time.

Contractual Pain Points

Even the simplest contracts can expose an organization to risk and liability if it’s not handled correctly. GCs and CLOs are tasked with overseeing the crucial job of examining and creating draft agreements, maintaining knowledge of the organization’s operations and legal documents, approving non-standard contract language and more.

Without a centralized solution for managing contracts on an organization-wide basis, legal departments run into countless hurdles, including:

  • Inconsistent language between contracts, often caused by employees using out-of-date contract templates
  • Competing objectives of moving contracts through quickly yet still having enough oversight to effectively manage risk obligations
  • A lack of insight into all the organization’s current contracts
  • An inability to track changes in contracts and ensure that contracts are in compliance with new and existing laws and regulations
  • The risk that contracts might expire or renew without notice because no one’s tracking them
  • Complicated review and approval processes for even standard contracts
  • Manual review and approval processes that create longer contract cycle times
  • Human error and inconsistencies inherent in manual processes, increasing the organization’s risk exposure
  • Lost revenue when add-ons, upgrades and renewals are missed
  • Being seen by other aspects of the business as a barrier to closing deals

The above list is by no means exhaustive. Given the large volume of contracts at today’s modern businesses, the challenges presented by trying to manage those contracts can become overwhelming when you rely on manual processes or basic contract tools that lack automation and AI and a means of creating a single source of truth for the organization’s contracts.

The Benefits of CLM Tools

While the challenges outlined above may seem daunting, they’re not insurmountable. CLM tools use automation and AI to remove the tedious, manual aspects of traditional contract management, increasing accuracy and efficiency, eliminating errors, and freeing up precious time that GCs and CLOs can use to focus on the many other critical tasks they’re responsible for handling.

Among other things, the right CLM solution will allow you to:

  • Find every contract you need, when you need it
  • Store all your contracts in one cloud location, creating a single source of truth for your organization’s contract data
  • Have full visibility at all times into the status of contract drafting, negotiations, amendments, and renewals, ensuring that nothing’s missed or overlooked
  • Implement uniform templates and playbooks to speed up contract cycle times, reduce manual errors and ensure you’re always using preferred terms
  • Automate approval processes to eliminate bottlenecks
  • Be notified of contract renewals to get a jumpstart on the process
  • Allow for self-service, so that other departments can create standard contracts with the correct language without legal review
  • Better manage risk across the organization
  • Demonstrate that the legal department is a strategic partner of the business, not a cost center

The ideal CLM tool will give you real-time insights into all phases of the contract lifecycle and provide you with actionable intelligence to make informed decisions for the business. More information means a better ability to identify and control risks across the contract process.

It’s time to take control of your contracts and let automation and AI do the heavy lifting for you. Contact us today to learn more about how Onit can help you implement end-to-end CLM for your organization.

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Sometimes, a company is so accustomed to a process that its participants don’t realize how manual it actually is. This is commonly the case for contract management and contract review.

Many corporations rely on vastly manual processes to handle contracts, such as cutting and pasting into templates, emailing, searching for documents and saving to multiple drives. However, a manual approach for contract management can come with significant risks such as inadequate delivery to customers, failure to enforce negotiated supplier terms, time lost from disorganization and errors and additional work due to inefficient processes.

One area of particular concern is contract review. When combined with highly manual or ineffective processes, it has the potential to hinder the execution of powerful agreements that lead to increased revenue, enhanced partnerships and valuable purchases. In short, a nickel – albeit a necessary nickel for legal review – is holding up a dollar.

Contract Review and Artificial Intelligence (AI)

Legal teams have long been asked to do more with fewer resources and a shrinking budget – all while taking on more work. This is not a scalable process without technology. Artificial intelligence and advancements in machine learning, natural language processing and deep learning are evolving the legal profession as we know it.

While legal professionals’ expertise and judgment will always be the core of legal processes, AI can provide pre-work much in the same way that a paralegal or junior lawyer might mark up a document or run a checklist before a partner’s final review. As a result, corporate legal departments can use AI to decrease the time it takes to review contracts, increase productivity, reduce risk and save time.

Here are five ways AI can accelerate the pre-signature contract review process.

  1. Self-Service Contract Review

With AI, legal professionals can slash the time for a first-pass review from days or hours to mere minutes. A business user can request a standard contract or submit a third-party contract for initial review via email or a web portal. AI learns corporate standards from transaction histories and feedback and then reviews and redlines contracts and returns them in Microsoft Word – often within two minutes.

  1. High-Volume/Low-Edit Contract Review

Some contracts, like nondisclosure agreements, require near real-time turnaround and often do not depart from standard terms. They’re high-volume and low-edit documents – prime candidates for AI review. Instead of an attorney handling contracts like this, AI can review the contract and suggest revisions to bring it to corporate standards if necessary. From there, the NDA or similar contract can be tendered directly to the other party or undergo one last round of internal review if deemed necessary. Lawyers can spend time on projects that bring more value to the company.

  1. Complex Contract Drafting and Negotiation

Master service agreements, statements of works and other complex sales or purchase agreements can also benefit from AI. It leverages the full company playbook and clause library to guide the contract drafter and reviewer along the negotiation at agreement pass.

  1. Third-Party Contract Risk Review

AI assesses the risk of contracts during the pre-signature phase by reviewing third-party paper against corporate standards and checklists. It then summarizes the risks, flags key issues using contract review templates and unique company clauses and suggests proper edits.

  1. Playbook Management

Combined with a user-friendly AI platform, AI-driven contract review allows legal teams to manage, collaborate and use AI to apply corporate playbooks and precedents automatically. Legal professionals can then use the real-time data and insight provided by the platform to improve playbook standards and understand enforcement across the business.

Conclusion

Businesses want as many agreements on their contract terms and paper as possible. When a contract is on “other party paper,” it is difficult to adhere to a company’s playbook and enforce guidelines. Ultimately, it slows down contract execution. However, by relying on AI, corporate legal departments are aptly equipped to pave a rapid path to contract closure and signature and accelerate business while increasing contract compliance.

To learn more about AI and contract management, read a recent study that details how AI and contract review increases corporate legal productivity by more than 50%.

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