(0:00:15) - Alternative Legal Service Providers

Monica Zent shares her journey of pioneering ALSPs, addressing pain points of traditional legal models and fostering understanding through thought leadership.

(0:10:05) - Contracting Process Challenges and Solutions

Contract management challenges, need for structured process, legal ops role, phased approach, and potential benefits of external support.

(0:16:10) - Legal Operations and Change Management

Legal operations assess and improve contracting processes by interviewing business teams, addressing change management and corporate culture, and considering existing technology.

(0:21:04) - Contract Heroes Sponsored by Koho Consulting

Contract management, CLM tools, expert guidance, and consulting services are crucial for seamless operations and long-term success.

--------- EPISODE CHAPTERS WITH FULL SUMMARIES ---------

(0:00:15) - Alternative Legal Service Providers (10 Minutes)

This chapter features monica Zent, founder and CEO at ZENT Law, who shares her journey of pioneering one of the first Alternative Legal Service Providers (ALSPs) over 20 years ago. We explore the initial challenges she faced in educating the marketplace and the value proposition of ALSPs. Monica discusses how she addressed the pain points of traditional legal service models by introducing innovative delivery options like subscriptions and dedicated support, well before the terms LegalOps or ALSP were widely recognized. Additionally, we touch upon the surprising early adoption of ALSPs by not only forward-thinking tech companies but also more traditional industries like insurance and utilities, drawn by the potential for cost savings. Monica also sheds light on how thought leadership in legal operations over the past decade has helped in fostering a better understanding of ALSPs and their benefits across various sectors.

(0:10:05) - Contracting Process Challenges and Solutions (6 Minutes)

This chapter examines the complexities and challenges of contract management within organizations, emphasizing the importance of a structured process and legal operations function. We explore the common issues that companies face, such as prolonged contract cycles, stakeholder mismanagement, and missed opportunities due to inadequate data harnessing. I discuss the necessity of conducting a thorough assessment to identify pain points and bottlenecks and how creating a phased approach for a future state plan can lead to more realistic and achievable outcomes. We also touch upon the critical role of legal ops in driving process changes and cultural buy-in for contracting processes, as well as the potential benefits of leveraging dedicated support from external legal ops professionals. The execution of a well-thought-out plan is underscored as the key to improving contract management and realizing cost savings and efficiency gains.

(0:16:10) - Legal Operations and Change Management (5 Minutes)

This chapter explores the crucial role of legal operations in assessing and improving contracting processes within a company. We discuss the importance of interviewing business teams outside the legal department, such as sales, procurement, finance, and marketing, to identify gaps and potential areas for automation, like self-service tools for NDAs. Additionally, we touch on the challenges of executing these assessments, emphasizing the significance of change management and the impact on company culture. We consider how to address concerns from staff who might fear for their job security during these evaluations, and the necessity of finding team members who are receptive to change. The conversation also covers the importance of appropriate messaging and understanding corporate culture to successfully implement new strategies. Lastly, we highlight the need to consider existing technology and the specific goals of an organization before proposing new solutions. For those interested in learning more about legal operations and the discussed strategies, we provide information on how to connect with our guest and their company, ZENT.

(0:21:04) - Contract Heroes Sponsored by Coho Consulting (0 Minutes)

This chapter marks the conclusion of another engaging session where we had the pleasure of exchanging insights with our esteemed guest. We touched upon various aspects of contract management and the nuances that can make or break the effectiveness of these systems within organizations. The importance of finding a Contract Lifecycle Management (CLM) tool that fits an organization's unique needs like a glove was underscored, highlighting that whether dealing with procurement or sales, the right tool can streamline processes and ensure seamless operations. Our discussion reiterated the value of expert guidance in navigating the CLM landscape, emphasizing how consulting services, such as those offered by our sponsor Coho Consulting, can be instrumental in tailoring a CLM solution to an organization's specific requirements for long-term success.

What We Discuss:

• [00:22] - Introduction to James Peacock and his background
• [2:06] - Understanding what the business wants vs. what employees want from in-house innovation and how technology enables change
• [9:51] - How to get other departments involved in CLM implementation
• [12:55] - Aligning the goals of commercial and legal teams for better change management

Notable Quotes:

• [10:48] - “Pick someone that has a 100% view in their mind that this will be successful. They have no problem with it at all. They’re convinced it’s the right technology. And then, pick someone that absolutely hates it. And, by the end of an implementation, if you’ve managed to turn that person that really didn’t like the idea of it into saying, ‘I can see this. I get this. I can see the proof point of this technology,’ you’ve done it!” - James
• [17:40] - “Trying to join up the organization through all those three. It’s about communication. It’s about understanding the roles and how important those roles are to the future viability of the business. Without sales, there’s no revenue, you could argue. Without legal, there’s no business because if you signed everything that came through your legal front door, there’s a chance you’d be in some hot water.” - James

Useful Resources & Links:

• ThoughtRiver Website
• James Peacock on LinkedIn
• The Contract Heroes Podcast
  • on Apple Podcasts
  • on Spotify
• The Contract Heroes Official Website
• Marc Doucette on LinkedIn
• Pepe Toriello on LinkedIn

WHAT WE DISCUSS:

• [00:22] - Introduction to Laurie Erhlich
• [00:41] - What is Datadog?
• [01:42]- Education as a Common Contracting Pain Point
• [08:43] -The risks and mitigations of contracts
• [10:02] -Automating contract review
• [11:18] -Standardizing NDAs and using technology for review
• [17:58] - The category of contracts for business stakeholders
• [18:35] - Enabling teams to focus on their preferences

NOTABLE QUOTES:

• [01:40] “I think it's education. I think it's making sure that everybody actually understands what we're contracting about... this lack of understanding really makes it impossible to close the contract when the parties aren't coming from the same position " - Laurie
• [05:06] “We have a contracting effort, you on our website and it's actually attached to our standard form contract that explains what our business is so that the procurement or legal person receiving the contract understands in more like not business speak, but in legal procurement speak what it is that they're buying in legalese, exactly.”- Laurie
• [09:01] “You don't need perfect contracts. Most contract disputes don't happen in court" - Laurie
• [13:46] “I try not to change things for the organization as a whole. I try to change things for my team in a way that benefits everybody in the organization.” -Laurie

USEFUL RESOURCES & LINKS:

• Data Dog Website
• Laurie Erhlich on LinkedIn
• The Contract Heroes Podcast
  • on Apple Podcasts
  • on Spotify
• The Contract Heroes Official Website
• Marc Doucette on LinkedIn
• Pepe Toriello on LinkedIn

WHAT WE DISCUSS:

• [00:02] - Introduction to Mark Ross and his role at Deloitte
• [06:37] - The importance of involving stakeholders for successful contract management technology implementation
• [10:57] - Readiness and preparation for CLM implementation
• [14:05] - The value drivers of process efficiencies in contracting
• [15:32] - Quantifying the savings from risk avoidance in contract compliance

NOTABLE QUOTES:

• [10:58] - “It's crucial that organizations take a moment to actually take stock of the people that they employ, the processes that they leverage today, and legal business services at Deloitte is laser-focused on helping our legal departments focus on those areas and then, of course, enjoy the benefits of that promised land of technological utopia as well.” - Mark

USEFUL RESOURCES & LINKS:

• Deloitte Website
• Mark Ross on LinkedIn
• The Contract Heroes Podcast
  • on Apple Podcasts
  • on Spotify
• The Contract Heroes Official Website
• Marc Doucette on LinkedIn
• Pepe Toriello on LinkedIn

WHAT WE DISCUSS:

• [00:33] - How procurement can improve their relationship with legal
• [04:50] - The concept of a negotiation playbook
• [09:40] - The importance of standardizing templates and intake protocols
• [10:16] - The role of lawyers in template selection and the impact on the procurement process
• [11:17] - Dynamic template creation
• [13:26] - Triage and work queue management
• [20:43] - The importance of a robust contract repository
• [22:44] - Creating a negotiation playbook
• [28:57] - The importance of readiness and preparation for CLM implementation
• [32:08] - Training newer folks on legal terms
• [34:00] - Collaboration between sourcing and legal departments
• [37:55] - Challenges with control from general counsel
• [41:51] - The challenges of implementing Agiloft  in the healthcare industry
• [42:43] - The importance of getting stakeholders excited and involved in the implementation process
• [43:43] - Resources for Agiloft implementation

NOTABLE QUOTES:

• [02:50] - “A lot of contract management has been focused on indirect procurement and the buy side. The sell-side has also been a focus. But historically we've noticed that it's actually born from the buy side.” - Prashant
• [03:43] - “The relationship between procurement and legal sometimes has bordered on adversarial because business drivers for procurement organizations are not just how do I get the best price and consolidate vendors, but it's really about managing categories from a strategic perspective .” - Prashant
• [08:51] - “Most CLM systems of basic functionality will have the ability to have a playbook in place with a clause library, fallback provisions that you can select a way to tag those particular provisions with different levels of risk or desirability from a company's perspective.” - Prashant 
• [11:36] - “Sometimes intake can drive that dynamic creation of a template using clauses that are ultimate provisions that you can use having a base template and then using alternate provisions based on the intake requirements to create something that's purpose-built for the transaction.” - Prashant
• [21:00] - “It takes a pretty high degree of maturity as an organization to have a robust single source of truth repository that's high integrity that people rely on.” - Prashant
• [30:52] “If there's a degree of preparation that involves these kinds of collaborative discussions, it creates a good foundation for trust between the organizations.” - Prashant

USEFUL RESOURCES & LINKS:

• Agiloft Website
• Prashant Dubey on LinkedIn
• The Contract Heroes Podcast
  • on Apple Podcasts
  • on Spotify
• The Contract Heroes Official Website
• Marc Doucette on LinkedIn
• Pepe Toriello on LinkedIn

WHAT WE DISCUSS:

• [00:00:31] - Nikki's journey to becoming CEO of Legaltech Hub
• [00:02:47] - Notable changes in legal technology and their impact on enterprise legal teams
• [00:06:56] - The role of AI in contract management
• [00:13:06] - The inevitability of AI integration in contract products
• [00:16:15] - Enhancing self-service workflows and integrating AI
• [00:19:39] - Anticipated technological advancements for organizations investing in AI
• [00:21:25] - Upcoming events hosted by Legaltech Hub

NOTABLE QUOTES:

• [00:03:00] - “We're really moving from the very large systems that do absolutely everything across the contract lifecycle and need to be implemented across all phases of the contract lifecycle to more modular, nimble solutions that are available for teams.” - Nikki
• [00:06:01] - “I think a CLM platform has to be nimble enough in order to be able to accommodate the different feature configurations or customizations for the particular industry into which it's being implemented.” - Nikki
• [00:13:54] - “AI doesn't necessarily lend huge efficiency at all stages of the contract lifecycle. It's a ‘nice-to-have’ in a lot of areas rather than a ‘must-have’.” - Nikki
• [00:18:05] - “You have to have thought out the user journey and have an established interface in order to make it easy to integrate AI and for the user to see the benefit of that.” - Nikki

USEFUL RESOURCES & LINKS:

• Legaltech Hub Website
• Nikki Shaver on LinkedIn
• The Contract Heroes Podcast
  • on Apple Podcasts
  • on Spotify
• The Contract Heroes Official Website
• Marc Doucette on LinkedIn
• Pepe Toriello on LinkedIn

WHAT WE DISCUSS:

• [00:00:40] - Introduction to Alistair and his company SYKE
• [00:01:15] - The birth of a contracting Solution
• [00:02:32] - Reducing contract cycle time
• [00:11:53] - The importance of investment and implementation
• [00:13:09] - The potential pitfalls of underestimating implementation efforts
• [00:19:33] - Benefits of a centralized contract repository
• [00:22:37] - The value of engaging a reputable consulting firm
• [00:25:00] - Reputation and changes in the market
• [00:30:34] - The transformative impact of AI in the legal sector
• [00:34:35] - Disruption in legal advisory services
• [00:35:56] - The role of AI in migrating and extracting legacy data

NOTABLE QUOTES:

• [00:03:44] - “We managed to reduce the average contract cycle time down from over 50 days to five and a half days, and it was really impactful, had a big commercial benefit, and I kind of just fell in love with it really.” - Alistair
• [00:07:17] - “I saw just the power of how, you know, for a few simple questions, you could put together a robust contract.” - Alistair
• [00:21:30] - “We don't want to be associated with failed projects and products. Reputation is hugely important.”- Alistair 
• [00:30:34] - “It's moving super fast and I am incredibly excited about what we're going to be able to achieve in short order through this new technology.”- Alistair
• [00:35:42] - “I really do, I don't think it will be long before the answers are as good as the lawyers or better, and that's going to be hugely disruptive to the legal market.” - Alistair

USEFUL RESOURCES & LINKS:

• SYKE Website
• Alistair Maiden on LinkedIn
• The Contract Heroes Podcast
  • on Apple Podcasts
  • on Spotify
• Marc Doucette on LinkedIn
• Pepe Toriello on LinkedIn

In this episode of the Contract Heroes Podcast, we are delighted to have three distinguished guests with us - Mary O'Carroll, Chief Community Officer at Ironclad and former Google Director Legal Ops and CLOC President; Laura Frederick, founder of How to Contract and ContractsCon, and a Lawyer; and Debbie Hoffman, previously Managing Associate General Counsel at Western Union, and currently a board director and executive leader with expertise in fintech, real estate, mortgage lending, and blockchain.

During our conversation, we discuss contract management implementations and finding a successful system with Mary. We emphasize the importance of taking a phased approach and starting small with pilot projects. Our discussion also covers the decision of whether to start with the legal department or procurement contracts, the role of consultants in the pre-implementation process, and effectively monitoring and managing contracts for compliance and value maximization. Laura joins as an expert in negotiating contracts, discussing the concerns of commercial lawyers and the trend of over-contracting. The episode concludes with Debbie sharing her experience with implementing a new tool at Western Union and the challenges faced. 

WHAT WE DISCUSS:

• [01:15] - The importance of phased approaches for successful implementations
• [03:06] - Starting with legal or procurement in implementing contract management solutions
• [03:22] The importance of finding the right starting point for implementing contract management solutions
• [04:53] - The role of consultants in the pre-implementation process and the need for well-defined processes
• [05:38] - Recommendations for organizations to ensure effective monitoring and management of their contracts
• [06:56] - AI and its impact on contract management
• [08:44] - Laura Frederick's recent event and her work as the founder of “How to Contract”
• [09:51] - Commercial lawyers’ frequently asked questions regarding CLM
• [11:01] - Strategies to reverse the over-contracting trend
• [11:35] - The importance of training for effective contract negotiation skills
• [13:34] - Automation of contract negotiations and the need for human decision-making in complex contracts
• [19:43] - Debbie’s background and involvement in CLM implementation while at Western Union
• [20:52] - The CLM vendor selection process
• [22:07] - Debbie’s challenges with the current tool
• [25:08] - The importance of building playbooks and understanding client needs 

NOTABLE QUOTES:

• [00:01:19] - “The idea of getting all your stakeholders aligned at the same time and trying to roll out one solution and saying, hey, this is going to be good for everyone is honestly a bit unrealistic. You're never going to have everyone on the same page.” - Mary  
• [00:01:44] - “Change management is hard. This is something that affects so many parts of the company. So, instead of trying, I think to get everyone aligned and to spend a year doing stakeholder alignment, the requirements gathering change management process is to just start small.” - Mary
• [00:16:24] - “If you can, train the people who are doing the contracts and negotiate them on those real risks, not the academic risk, but what is this company with these products and services? What do we really worry about then that's going to be such an important step towards enablement and getting to shorter contracts?” - Laura

USEFUL RESOURCES & LINKS:

• Ironclad Website
• Mary O'Carroll on LinkedIn
• Laura Frederick on LinkedIn
• How to Contract Website
• Contracts Con Website
• Debbie Hoffman on LinkedIn
• Western Union Website
• The Contract Heroes Podcast
  • on Apple Podcasts
  • on Spotify
• The Contract Heroes Official Website
• Marc Doucette on LinkedIn
• Pepe Toriello on LinkedIn
• Pepe Toriello on Twitter

During our conversation, Roma shares her journey from law school to becoming a contracts manager and eventually a general counsel. She explains how she started her own contracts tech company, CrushContracts, and developed tools like the Global NDA, ICE, and Zoey to address contract management pain points. Roma emphasizes the importance of solving problems and adapting to changing times. We also discuss the challenges of getting buy-in from team members and ensuring adoption of contract management tools. 

WHAT WE DISCUSS:

• [00:19] - Introduction to Roma Khan, CEO of CrushContracts 
• [00:52] - Roma's background and journey to becoming the “contracts queen”
• [02:57] - The main issues Roma faced as a general counsel and recommendations for contract management
• [06:32] - Overview of the tools developed by CrushContracts, including Global NDA, ICE, and Zoey
• [09:14] -  Challenges in contract management
• [10:13] - Approach to contract management: understanding the purpose of contracts as business documents 
• [16:14] - Importance of organizing contracts
• [17:05] How to optimize workflow processes and conduct an internal audit for legacy contracts
• [19:05] - Getting buy-in from team members and utilizing existing resources for project implementation
• [21:12] Challenges of adoption and change management when implementing new technology
• [24:45] Recommendations for addressing adoption and change management challenges in CLM implementation

NOTABLE QUOTES:

• [00:03:44] - “I built a global registry called Global NDA where we sat down with several other attorneys and created a universally acceptable mutual NDA, and it's online now and people can just opt in and start talking to the active members.” - Roma
• [00:11:11] - “A lot of times legal departments will create instruction manuals that look like novels. They look like law school briefs. There are too many bullet points, and it's like everything I can add to it, I will add. I work the other way around. I look at it as the most simplest user in the company and if they have to execute this contract, I want them to understand the process, I want them to understand the risk, and I want them to negotiate most of this on their own. So they come to legal for the last thing, for this final approval.” - Roma
• [00:10:34] - “My overall process and ideology and contracts comes from the core belief that contracts are not legal documents. They are business documents. They have to be lawful and legally and legally binding. But with anything, you can start any business, and it has to be for a lawful purpose.” - Roma

USEFUL RESOURCES & LINKS:

• CrushContracts Website
• Roma Khan on LinkedIn
• The Contract Heroes Podcast
  • on Apple Podcasts
  • on Spotify
• The Contract Heroes Official Website
• Marc Doucette on LinkedIn
• Pepe Toriello on LinkedIn
• Pepe Toriello on Twitter

During our conversation, we gain valuable insights into Intel's journey of successfully implementing a contract management tool. We emphasize the importance of clean and organized data as the foundation for effective contract management. We delve into the significance of data-driven decision-making and involving attorneys in the process. The team from Intel highlights the importance of metadata and prioritizing active contracts. They also give us insights into some of the challenges they faced during implementation and the importance of data cleanliness and integrity. We also touch on scoping the project, engaging internal teams, and involving end users in the design process. Finally, we discuss the flexibility and challenges of the chosen CLM solution by the Intel team, as well as the future phases and the potential of AI in contract management.

WHAT WE DISCUSS:

• [00:14] - Intel’s journey of implementing a contract management tool
• [03:16] - Establishing a solid foundation for contract management through data-driven approach
• [07:13] - Analyzing and prioritizing data during the foundation stage
• [08:49] - Data integration and prioritization of contracts in a system implementation.
• [10:41] - Importing legacy documents and mistakes in implementation
• [12:07] - Building the contract repository and data cleaning
• [16:41] -Scooping process and the importance of prioritizing features and functionalities based on business value and user population 
• [24:14] -The role of a dedicated project manager and their experience with legal technologies during CLM implementation
• [26:07] How processes were established and whether diagrams were created during the foundation stage
• [27:49] Handling change requests during CLM implementation
• [32:43] - Importance of conservative resource planning and transparent communication in business operations
• [34:45] - Prioritizing and future phases in consulting, including authoring and AI for contracts
• [35:36] - Excitement about the future phase of AI in contract management.
• [37:20] - Integration with company's data domains

NOTABLE QUOTES:

• [00:01:44]  - “Having a firm foundation of understanding what our data is and making a data centric mindset approach towards how we solve our challenges when it comes to contracts is of utmost importance.” - Donovan
• [00:04:00] - “Data is going to be king in terms of understanding how we can then make a business decision. At the end of the day, the data should produce the ability to make a decision in regard to where you are taking your business and the approach you're going to take with it.” - Donovan 
• [00:15:51] - “You need to maintain the data and make sure your data continues to be clean, through the years. And so that's why when you are doing this repository design implementation, take into consideration the business rules. Ideally, you should have those also implemented into the system validation.” - Kuan
• [00:19:22] - “Our first implementation failed largely because we didn't partner with our IT organization like we did with our second implementation. And so, that was the chief reason why we failed. We, as a legal department and legal operations department, felt we could do it on our own without bringing in a big intel IT organization.” - Gerald

USEFUL RESOURCES & LINKS:

• Intel Website
• Kuan Yu Liu on LinkedIn
• Donovan Bell on LinkedIn
• Gerald Wright on LinkedIn
• The Contract Heroes Podcast
  • on Apple Podcasts
  • on Spotify
• The Contract Heroes Official Website
• Marc Doucette on LinkedIn
• Pepe Toriello on LinkedIn
• Pepe Toriello on Twitter

Picture a crucial contract trapped in a digital abyss, while stakeholders scramble to review it one after another, causing delays, errors, and missed opportunities. Contract Lifecycle Management (CLM) is the knight in shining armor. With automation, collaboration, and visibility, CLM transforms your procurement process into a streamlined powerhouse. Say goodbye to lost contracts and endless paperwork. Embrace CLM to unlock efficiency, compliance, and accelerated business growth. It's time to reclaim control over your contracts and triumph over the chaos.

In this episode of the Contract Heroes Podcast, we are thrilled to  sit down with Sol Brody. Sol is  the Executive Director, Legal Operations at Boeing. The Boeing Company, along with its affiliated companies, engages in the global design, development, manufacturing, sales, servicing, and support of commercial jetliners, military aircraft, satellites, missile defense systems, human space flight initiatives, as well as launch systems and services.

During our conversation with Sol, we discussed contract management challenges within a large organization and the implementation of a CLM solution at Boeing. Sol talks about his  role and emphasizes the importance of collaboration and efficiency in contract management processes. We also discuss the ownership of contracts at Boeing and the challenges faced in finding the right workflow solution. Sol  shares his experience fitting into his role and working in such a large organization. Our conversation also touches on key performance indicators (KPIs), automation, compliance reporting, and building a legal operations team. Sol  suggests identifying pain points within the organization and involving internal business partners to advocate for its necessity and help make a compelling case to the C-suite.

WHAT WE DISCUSS:

• [00:30] - Sol’s perspective about the conference and how it has changed since his first visit in 2019
• [01:24] - Ownership of contracts at Boeing and Sol’s role in assisting attorneys with a structured approach
• [02:48] - The implementation of a CLM solution at Boeing
• [04:14] - Challenges faced during the implementation of the CLM solution at Boeing
• [06:06] - The role of CLM solution in addressing pain points at Boeing 
• [07:44] - Sol’s experience of transitioning from one company to another
• [10:47] - Key performance indicators (KPIs) for legal operations during the post-signature phase of the contract lifecycle
• [12:44] - Opportunities for automation in compliance reporting
• [15:13] - Building a legal operations team and gaining support from the C-suite 

NOTABLE QUOTES:

• [00:06:07] - “I think part of it, it's just a lot of white space in between. We use a lot of emails. And so just imagine an email goes into a procurement agent, it sits for a couple of days until someone gets it. It then needs to work through the process. There's no less than ten other functions that need to weigh in on whether there's some element of privacy or global trade or insurance or some other risk that we're trying to mitigate. That has to be worked many times in serially rather than parallel.”  - Sol
• [00:13:52]  “Legal doesn't own the policy, we should not be stepping into that white space to tell you what the policy is supposed to mean, that's for the policy owner to do. So it's really about how does the right work get to legal, how do we deflect work that makes sense upstream either to the policy owner or to the requester, or that we can put into some sort of knowledge bank that people can go to and get a quick answer to.” - Sol

USEFUL RESOURCES & LINKS:

• Boeing Website
• Sol Brody on LinkedIn
• The Contract Heroes Podcast
  • on Apple Podcasts
  • on Spotify
• The Contract Heroes Official Website
• Marc Doucette on LinkedIn
• Pepe Toriello on LinkedIn
• Pepe Toriello on Twitter

In today's rapidly evolving business landscape, the strategic utilization of technology has become a paramount driver of success. It holds the key to unlocking unprecedented levels of productivity, efficiency, and innovation. But here's the catch: technology alone is not enough. To truly harness its power, organizations must foster a culture of collaboration, breaking down silos and engaging every department in the transformative conversation.

In this episode of the Contract Heroes Podcast, we sit down with the incredibly experienced Trayce Marcelle who is a seasoned professional with over 20 years of experience in legal operations management consulting and the Head of US - Legal Operations and Technology Consulting LOD + SYKE. LOD & SYKE are the leading and rapidly expanding experts in legal technology, have collaborated to provide clients with exceptional alternative legal services. They are globally recognized as the biggest and most swiftly advancing specialists in this field.

During our conversation, Tracy discusses her experience in legal operations management consulting and the importance of incorporating technology into legal operations. She emphasizes the need to make technology work for you and involves other departments in the conversation. We also highlight the challenges of implementing digital transformation projects and the importance of having a clear action plan. The conversation then shifts to contract lifecycle management (CLM) and the challenges of implementing CLM systems. Tracy provides practical solutions and suggests starting with a few key contracts or workflows. We also discuss the challenges of transitioning from one system to another and emphasizes the importance of changing perceptions and proper planning. 

WHAT WE DISCUSS:

• [01:15] - Trayce’s background
• [02:32] - Some of Trayce’s significant projects in legal innovation and legal tech consulting
• [06:05] - The importance of involving other departments in legal tech projects
• [07:23] - How to engage other departments in legal projects for meaningful impact
• [09:14] - The need for a clear action plan in digital transformation projects
• [10:17] - The challenge of starting a project without mapped processes
• [10:37] - Implementing CLM across different industries and regions, and the importance of not over planning.
• [12:22] - Simplifying processes and using metadata to make strategic decisions based on contract execution data.
• [15:12]  -  Prioritizing implementation based on specific business needs and starting with a few contracts for quick wins and user adoption.
• [17:09] - The importance of collaboration between commercial and legal teams in the negotiation and implementation process of legal technology
• [20:14] - Strategies to generate excitement and overcome resistance for CLM implementation
• (20:33] - The importance of understanding business requirements and the overlap of spend when transitioning to a new tool
• (21:13] - Changing the perception of contracting
• (21:50) - Pre-implementation planning

NOTABLE QUOTES:

• [00:07:35] “You want to create an environment of envy. You want to create an environment where people are talking about what you're doing and are excited about it. You have to create champions. And that means when you're doing your requirements gathering exercise, you understand what people want out of the system.” - Trayce
• [00:11:08] “We are firm believers that you don't boil the ocean. If you spend a year planning an implementation, by the time you're ready to implement, it's all wrong, and it's all changed, as soon as you put them on paper, it's dead.” - Trayce
• [00:21:19] “So, you start looking at data governance and usage and adoption and where are the gaps and where are the problems, and you start just changing their perception of the way it does work and the way that it can work. And you start creating excitement about it even before you decide and negotiate on the next tool.” -Trayce

USEFUL RESOURCES & LINKS:

• SYKE Website
• LOD Website
• Trayce Marcelle on LinkedIn
• The Contract Heroes Podcast
  • on Apple Podcasts
  • on Spotify
• The Contract Heroes Official Website
• Marc Doucette on LinkedIn
• Pepe Toriello on LinkedIn
• Pepe Toriello on Twitter

In this episode of the Contract Heroes Podcast, we are delighted to sit down with James Donald. James is the Deputy General Counsel, Global Premium Midscale and Economy Brands at Accor in Dubai and  has 10+ years' hospitality experience. He has advised on all manner of hotel-related agreements throughout Europe, Africa, the Middle East and Asia. Previously, before joining Accor, he led legal and risk in India, the Middle East, and Africa. James is a solicitor of England and Wales, with an economics and finance degree, and a father of twin boys.

During our conversation, James shares his background and how he ended up in his current role. The discussion focuses on legal operations and implementing  technology at Accor. James explains the initiatives they have taken to streamline legal processes and improve collaboration between legal and other business departments. He also discusses the implementation process of their contract lifecycle management system and highlights the importance of evaluating and re-evaluating processes. James discusses a significant aspect of their discussion, which revolved around the learnings from a previous CLM implementation. He shares how they have used that knowledge to avoid making the same mistakes with their new vendor, Agiloft. By reflecting on past experiences, James and his team have gained valuable insights that inform their approach to implementing the contract lifecycle management system, ensuring a more successful outcome with Agiloft.

WHAT WE DISCUSS:

• [00:30] - James' career background and how he ended up as Deputy General Counsel at Accor
• [03:33] - James’ key initiatives to align and streamline legal processes at Accor
• [09:34] - James’ approaches to CLM implementation and the role of external consulting firms
• [11:34] - Evaluating tools and processes
• [12:47] - Considerations during the evaluation and implementation of a CLM tool
• [13:58] - James’ experience of extracting data from legacy contracts and the challenges they faced in manually extracting over 300 pieces
• [16:15] - Strategies for successful implementation of complex systems, focusing on phased approaches and user adoption
• [20:28] - The importance of integrating different systems within organizations and the challenges it poses.
• [24:38] - James’ considerations and options for post go-live support and system administration in implementing and evolving organizational CLM solutions
• [27:59] - Continuous improvement of operational effectiveness
• [30:46] - Speeding up the contracting process
• [33:47] - How success is measured in implementing a software solution
• [37:08] - James’ tips for a successful contract management process

NOTABLE QUOTES:

• [00:10:05] - “When you're trying to load lots of different templates into a solution, or you've got lots of different processes that vary regionally, of course it's really hard to get that to work when there's so much complexity. So we realized that that was something we should have done, probably more of.”- James
• [00:30:16] - “If there's one thing that I can suggest young in-house lawyers do is to really understand the business that they're in, because there's often a criticism that I hear about, Well, do they really understand me? Right? Do they really understand what my challenges are, the business person's perspective, when they're trying to get something done.” - James

USEFUL RESOURCES & LINKS:

• Accor Website
• James Donald on LinkedIn
• The Contract Heroes Podcast
  • on Apple Podcasts
  • on Spotify
• The Contract Heroes Official Website
• Marc Doucette on LinkedIn
• Pepe Toriello on LinkedIn
• Pepe Toriello on Twitter

In this episode of the Contract Heroes Podcast, we are delighted to speak with Courtney Irelan. Courtney is a corporate attorney and possesses extensive expertise in various contract types, primarily specializing in commercial transactions and procurement. Prior to her legal career, she climbed the ranks in sales and marketing and eventually assumed the role of overseeing business operations for multiple retail stores. Courtney harbors a strong enthusiasm for contracts.

During our conversation, we talk about the Contracts Con event and the importance of practical contract management education in law schools. Courtney emphasizes the need to define the scope of services and terms clearly, as well as to avoid vagueness and ambiguity in contracts. She also stresses the importance of using plain language instead of legalese, which can be difficult for non-lawyers to understand. We also touch on tips for successful contract management implementation and highlight the benefits of having standardized templates in a CLM system, which can empower sales and procurement teams to turn around contracts quickly and efficiently. 

Listen to this episode to learn more about the importance of practical contract management education and the benefits of streamlining contracts for all parties involved.

WHAT WE DISCUSS:

• [00:19] - Who is Courtney Irelan?
• [00:43] - The Contracts Con event
• [04:52] - The importance of practical contract management education in law schools
• [08:26] - Overview of Courtney’s article for Contract Nerds
• [11:13] - Tips for crafting streamlined contracts
• [13:50] - The importance of using plain language in contracts
• [17:19] - Courtney’s process of approaching companies for CLM services
• [21:18] - Common contract types needing improvement
• [24:14] - The importance of clear and specific language in contracts, and the use of examples to contextualize technical language
• [25:50] - The benefits of using standardized contract templates in a contract lifecycle management system
• [29:06] - The impact of user-friendly templates on user adoption and efficiency of CLM tools
• [32:15] - Tips for implementing a contract management system

NOTABLE QUOTES:

• [00:13:19] “I've seen a lot of contracts that are super heavy with legalese and coming from sales myself. I remember before being an attorney and reading contracts that I was dealing with and not having a clue what was being said.” - Courtney
• [00:15:21] - “What you need to have is that there is the commercial side of the business that understands the contracts, because most of the time they're the ones doing the negotiation process and the legal team does not need to be involved in every deal otherwise they will just become overwhelmed.” - Pepe
• [00:17:20] - “My experience has been that having a contract lifecycle management software of some kind is a desired tool by every department, and I have never run across a scenario where anybody within a business says, "Oh, we don't want that.” Typically, it is a matter of prioritization and cost and a disconnect between knowing why it's so important to have a CLM.” - Courtney
• [00:32:24] - “If you don't have sufficient buy-in, some sales people may look at CLM's like, Oh, great, now I've got more work to do on my end. They may not realize initially just how much power it gives them. So I think that really emphasizing to sales teams, executive teams and business leaders that this empowers your team. You're not having to wait on legal anymore. You're not even having to wait on procurement a lot of times anymore. CLM gives so much power to the sales and business unit leaders.” -Courtney

USEFUL RESOURCES & LINKS:

• Courtney Irelan on LinkedIn
• The Contract Heroes Podcast
  • on Apple Podcasts
  • on Spotify
• The Contract Heroes Official Website
• Marc Doucette on LinkedIn
• Pepe Toriello on LinkedIn
• Pepe Toriello on Twitter

Mentioned

• Practical Tips on How to Contract by Laura Frederick
• ContractsCon link
• Contract Nerds
• Contract Nerds: 10 Ways to Improve Your Contract Template by Courtney Irelan

In this episode of the Contract Heroes Podcast, we are thrilled to feature Alla Valente. Alla is a senior research analyst at Forrester, a leading global market research company that helps organizations exceed customer demands and excel with technology. Alla specializes in security and risk management and with a focus on GRC, TPRM, CLM, and supply chain risk, she assists clients in strategy development, best practice adoption, and technology selection. Her research delves into digital transformation ethics, ERM, and brand protection. With 25 years of B2B marketing experience, including leadership and strategy, product marketing, and digital and customer marketing, Alla brings a unique perspective to risk management. She holds a BA in English from Hofstra University and has excelled in the Business Analytics Program at Harvard.

In our conversation, we focus on Forrester's latest Wave Report concerning the CLM space that looked at 26 different criteria for every vendor, including their use of AI, ease of finding information in the contract repository, and integration with upstream and downstream technologies. We explore the significance of understanding the risks associated with commercial transactions and the methodology behind Forrester Wave reports. Additionally, we touch upon the evolving role of CLM in the digitalization of commercial relationships and the key considerations that organizations should prioritize when selecting a CLM provider.

WHAT WE DISCUSS:

• [00:19] - Who is Alla Valente? 
• [00:56] - Alla’s position at Forrester and the Forrester Wave Reports 
• [05:29] - The evolving role of CLM in the digitization of commercial relationships
• [09:16] - Trends in pre- and post-signature processes in CLM software
• [10:30] - The collaboration and benefits of CLM within organizations
• [15:26] - Industry-specific CLM requirements 
• [18:00] - The 26 different criteria used to evaluate CLM vendors
• [20:18] - Workflow and visualization 
• [22:20]- AI Capabilities in CLM
• [26:38] - Important considerations for choosing a new CLM provider

 NOTABLE QUOTES:

• [00:01:18] - “Understanding the risks that come with commercial transactions, with how organizations acquire, sell, and deliver the goods and services that they have; we need to understand how contracts are really at the heart and at the core of those commercial transactions and interactions.” -Alla Valente
• [00:07:49] - “In the world of contract management organizations, and especially contract management professionals, wherever they sit, where they sit in the legal department, or they sit in procurement, maybe they sit in sales, maybe they're part of compliance wherever they understand that to be able to have that organization move as fast as its strategy dictates, they need to also then accelerate that transformation by digitizing contract management. And so it's a super exciting time to be in CLM.”- Alla Valente
• [00:23:34] “There are some organizations that are nervous about AI in contract management. They are reluctant to use it because it's new, and they don't have experience with it. Maybe they think that it might replace them and threaten perhaps what they do, none of which or both of those are not true.” Alla Valente

USEFUL RESOURCES & LINKS:

• Forrester
• The Forrester Wave™: Contract Lifecycle Management, Q2, 2023
• Alla Valente on LinkedIn
• The Contract Heroes Podcast
  • on Apple Podcasts
  • on Spotify
• The Contract Heroes Official Website
• Marc Doucette on LinkedIn
• Pepe Toriello on LinkedIn
• Pepe Toriello on Twitter

Procurement: From Chaos to Control with David Cho

Procurement, the backbone of any organization, holds the key to efficient operations, cost savings, and sustainable growth. Whether you're part of a multinational corporation, a government agency, or a budding startup, the significance of establishing robust procurement processes cannot be overstated. However, embarking on building procurement processes from scratch can feel like entering a labyrinth—a daunting task that demands careful planning, expert knowledge, and a sprinkle of creativity.

In this episode of the Contract Heroes Podcast, we have the pleasure of speaking with David Cho, a C-Level Managing Director & Chief Procurement Officer for the University of Massachusetts system. Previously, he held key positions at BlackRock, KPMG, and Deloitte, showcasing his expertise in finance, procurement, and strategic planning.

During our conversation, David shares valuable insights on building procurement processes from scratch. We delve into the challenges of implementing new processes, the role of technology in procurement, and the importance of measuring ROI. David explains how he and his team centralized the procurement function, simplified the message, modernized policy documents, and used technology to operationalize all processes. We also discuss the significance of change management, communication, and training. Discover the remarkable story of David's team, who not only surpassed expectations but also accomplished a level of work that typically takes organizations three decades to attain. 

WHAT WE DISCUSS:

• [00:57] - Who is David Cho?
• [03:52] - Building procurement processes from the ground up
• [07:45] - Change management and overcoming pain points
• [13:04] - How the University of Massachusetts implemented new technology to improve their contract processes
• [17:44] - How technology empowered the procurement team at the University of Massachusetts
• [26:47] - The significance of top-down support in implementing procurement changes
• [28:00] - The best ways to calculate ROI for procurement processes
• [29:36] - The importance of tangible and intangible ROI

NOTABLE QUOTES:

• [00:05:16] - “We're not always looking for the cheapest cost. We're looking for great value, which includes quality of service, which may include some of our social values as well as supply, diversity and environmental sustainability considerations. - David
• [00:06:48] - “Making sure that you have the right people and places is just so key right before you're rolling out any piece of technology or before you even look at a piece of technology, you need to make sure that you have the people in place to, one, make that change management happen so that people are excited about using a new tool and are going to continue to use the new processes that you're laying out as well.” - Marc
• [00:30:22] - “So I think you can start creating those targets, those aspirational targets once you've launched these metrics, and then you're able to say, okay, that's the kind of illustrative drive that we're going to strive for right here at these targets. Here's the tangible evidence that we're going to try to go for. And so I need everybody's help to change behavior to get us there.” - David

USEFUL RESOURCES & LINKS:

• Unified Procurement Services Team (UPST)
  • Website
  • LinkedIn
• David Cho on LinkedIn
• The Contract Heroes Podcast
  • on Apple Podcasts
  • on Spotify
• Marc Doucette on LinkedIn
• Pepe Toriello on LinkedIn

WHAT WE DISCUSS:

• [01:23] - A brief introduction to Mitratech 
• [02:03] - Partnership between Mitratech and Agiloft and the overall strategic plan and goals
• [03:45] - Why Mitratech chose Agiloft rather than other CLMs
• [07:23] - How the partnership between Mitratech and Agiloft can transform legal firms and their operations
• [09:28] - The expected impact of the partnership on the day-to-day operations of a typical legal department
• [11:06] - The benefits of legal intake portal
• [14:04] - The straightforward integration process between Agiloft, Mitratech, and Aloft, utilizing the integration hub and APIs
• [15:33] - Customer demand for integration
• [20:10] - The opportunities for partners to assist with data mapping exercises and creating guided workflows within the front door wizard
• [22:10] - The transformation happening in the contracting industry
• [28:06] - Legal front door and guided process

NOTABLE QUOTES:

• [00:02:04] - "Our strategy to execute on that vision requires us to build the most connected CLM in the marketplace and that's the journey that we're on – one where we will see data flow seamlessly across the enterprise, and I think that's so critical for establishing these sort of interconnected systems for the stakeholders that are involved within contracting." - Andy
• [00:07:01] - “There isn't a single solution that does absolutely everything across ELM and matters in spend management and contract life cycle management, so we're trying to make it easier for them to work with us both. You know, we're teaming together, going in together into those opportunities to make it easier for legal operations teams to navigate the legal landscape.” - Andy
• [00:12:15] - "This is about fast recycling times and greater efficiencies but with the integration between contracts and matters it's also ensuring that data is synchronizing between those two solutions that you're avoiding all of the risks related to manual entry or reentry between different platforms so I think the outcomes that benefit to legal operations professionals can be transformative." - Marc
• [00:25:34] - "Companies have to make decisions on how they best allocate the funds that they have. And I think putting the right software in place, automating the right capabilities, ultimately is a key step forward to optimizing the way an organization works." - Justin

USEFUL RESOURCES & LINKS:

• Agiloft Website
• Andy Wishart on LinkedIn
• Mitratech Website
• Justin Silverman on LinkedIn

• The Contract Heroes Podcast
  • on Apple Podcasts
  • on Spotify

WHAT WE DISCUSS:

• [00:29] - Angelina's background and contract work
• [01:47] - Day-to-day work of a pharma contract team
• [03:05] - How implementing a CLM system improved communication between legal and finance
• [04:27] - Impact of tools like Agiloft on daily tasks
• [06:13] - Importance of a well-designed contract intake form.
• [08:15] - Issues that can be resolved using automation tools such as Agiloft.
• [10:42] - Compatibility of CLM with other departments
• [13:31] - Engaging stakeholders with KPIs and dashboards
• [15:16] - Continuous training for effective CLM use
• [17:28] - Managing Agiloft implementation and customization
• [20:31] - Tips for evaluating CLM vendors
• [22:55] - Choosing the right implementation partner

NOTABLE QUOTES:

• [10:58] “You have to think about the organization as a whole and being in a system that you can actually grow into, and that's going to continue to fulfill the business needs.” - Angelina
• [16:38] “The things that you don't know at the beginning of an implementation aren't going to be the same things that you don't understand at the end.” - Marc 

USEFUL RESOURCES & LINKS:

• Angelina Bellaton on LinkedIn
• The Contract Heroes Podcast
  • on Apple Podcasts
  • on Spotify
• The Contract Heroes Website
• Marc Doucette on LinkedIn
• Pepe Toriello on LinkedIn

WHAT WE DISCUSS:

• [00:41] - Mike’s background and how he got into legal operations
• [02:22] - How legal operations help other departments in making their legal operations more efficient
• [06:39] - Strategies for legal ops to drive user adoption of a new CLM system in other departments
• [08:22] - Implementing a CLM tool in large  organizations: Strategies for gaining buy-in and securing budget
• [10:53] - The type of data legal team can surface to other departments to help guide business decisions 
• [12:44] - AI functionality in CLM tools
• [13:51] - The future of chatbots and conversational AI: Predictions for availability and adoption
• [16:50] - Building a legal operations team: Justifying the investment with data and reports that appeal to the CFO
• [17:54] - Demonstrating the business value of legal operations
• [20:34] - The trend of outsourcing legal operations 
• [22:09] - Building a Legal Ops role

NOTABLE QUOTES:

• [02:25] - “One of the coolest things about legal operations is its breadth of scope, not only relative to what we do in the various functional areas we cover but also in terms of who we work with.” - Mike Haven
• [04:18] - “Historically, legal departments have erred on the side of caution, probably spending more time on contract processes and review than is really needed. And with modern technology, that's becoming more and more true.” - Mike Haven
• [05:00] - “I've heard recently about a couple of misguided companies reducing or eliminating legal staff due to hard economic times, which in my view is crazy. I feel they should be doing the exact opposite.” - Mike Haven
• [05:25] “Innovation is no longer something that will be required at some point in the future. It's no longer optional. We have to get more out of the resources allocated to us by the company to keep the business running and to absorb incremental business demand and deliver results that directly impact the bottom line in a positive way.” - Mike Haven
• [10:54] - “Contracts are touch points between legal and the business and through sound use of process and technology, legal can leverage the treasure trove of data in contracts to provide data insights to the business.” - Mike Haven