Last week we published a post about Fred the Legal Director. Fred’s is a fictional but realistic story about making your contracting process more efficient, safer and future proofed through automation technology.
In case you have yet to encounter Fred, he is a Legal Director at Cordoba, a listed company that sells software-as-service products. Fred is responsible for the contracts function and is under pressure to deliver cost saving and improve service delivery.
In Part 1 Fred laid out his strategy and tactics for solving the immediate problem: that Fred’s team takes too long time to complete a routine contract, and even longer for a complex contract.
In Part 2, Fred is getting closer to solving his legal team’s problems. He puts his first steps into action, which is to build a database of current documents, analysing their effect on Corboda’s P&L and essentially rebooting their document set.
They also decide to re-write their contracts in plain English to save time down the line by avoiding to involve the legal team unnecessarily. And they write a playbook which empowers lawyers and non-lawyers in the company to take on the negotiation of a contract themselves. None of this can of course be done without business buy-in.
Find out how Fred delivers the above in Part 2.
