How LawVu can help build legal operations competencies

by | Mar 3, 2021

Reading Time: 3 minutes

CLOC has identified 12 core competencies that provide an understanding of “best practice” in the legal operations space.

In the table below we summarise how LawVu can help legal operations professionals or General Counsel improve their legal operations competencies. 

 

Competency level Competency CLOC description LawVu solution
Foundational level of operations competency Financial management Manage the departmental budget. Track accruals and forecasting.  Work with Finance to identify spending trends, potential cost savings and efficiency opportunities. With LawVu’s Engage and Insights tools you can track actual outside spend against your budget, as well as see which vendors are performing well – combined, these tools can help you understand where savings can be made or spend better allocated. 
Vendor management Create a vendor management program to insure quality outside counsel support at the right rates and under optimal fee arrangements. Hold regular business reviews.  Negotiate fee agreements.  Drive governance of billing guidelines. With LawVu’s Engage, you can control the RFP, invoicing and e-billing processes through LawVu itself. With vendors also having access to LawVu, collaboration and negotiation has never been easier. You can pre-load vendors into LawVu’s directory which combined with the quality review feature, allows you to quickly select the best vendor.
Cross-functional alignment Collect and analyze relevant data from department tools and industry sources, define objectives to provide metrics and dashboards, that drive efficiencies and optimize spend, etc. LawVu Insights is an analytics and reporting tool which pulls data from the entire LawVu platform. That means the data linked to your matters, documents, contracts, and associated emails can all be pulled through to the Insights dashboards for meaningful insights. 
Technology support Create a long-term technology roadmap including tools such as e-billing/matter management, contract management, content management, IP management, business process management, e-signature, board management, compliance management, legal hold, subsidiary management, etc. LawVu scales with your team. You can either implement the entire LawVu platform or onboard the various tools as your team scales. For example, if your legal operations strategy starts with document and workflow reform, you could start with implementing LawVu Matters, Contracts and Knowledge tools; and then adopt Engage and Insights at a later date for a total performance overhaul. 
Advanced level of operations competency Alternative support models Drive departmental efficiency by leveraging managed services, LPOs, and other service providers. As mentioned above, LawVu’s Engage tool helps in-house counsel have total control over all their outsourcing requirements
Professional development and team building Deliver improved GC Staff and overall team performance by globalising the team and creating a culture of growth, development, collaboration and accountability. LawVu’s collaboration and knowledge management tools are great for improving transparency and culture. Being a cloud-based platform it’s accessible from any device, anywhere with an internet connection – great for remote teams. You can collaborate with your legal team mates or other business colleagues within LawVu from anywhere. Other tools, such as task allocation and workflow statuses are great for accountability and removing bottlenecks.
Communications Work collaboratively across the legal ecosystem to create consistent global processes, from on boarding to complex project management support. Publish regular departmental communications, plan and execute all-hands. LawVu’s knowledge management portal is a great collaborative resource to share knowledge, keep track of processes or meeting notes so that everyone is up to date and on the same page. 
Data analytics Collect and analyze relevant data from department tools and industry sources, define objectives to provide metrics and dashboards, that drive efficiencies and optimize spend, etc. LawVu’s Insights is a comprehensive data and analytics tool that allows for quick meaningful decision making to be made from surface insights displayed on user friendly dashboards. Metrics around team performance, outside counsel performance, and spend help you track the overall performance of the legal function and where your next legal operations strategy should focus.  
Mature level of operations competency Litigation support Support e-discovery, legal hold, document review. LawVu includes document management and contract repository tools so that everything can be saved in one place and kept track of easily. You can also attach documents and contracts to matters, and collaborate or make notes against them.
Knowledge management Enable efficiencies by creating seamless access to legal & department institutional knowledge through the organization and centralization of key templates, policies, processes, memos, and other learnings. LawVu’s knowledge base is the perfect location to create and share articles, opinions, advice or policies and processes. You’ll never double up on a piece of advice ever again!
Global data governance / Records management Create a records management program including a record retention schedule, policies and processes. Because the LawVu platform is an end to end solution, you gain one source of truth for all your legal teams work and records – a great help for any data or recording requirements.
Strategic planning Create a long-term strategy, aligning yearly goals and corresponding metrics. Unfortunately LawVu can’t do the planning for you, but our world class Customer Support specialists and Legal Operations Advisers can certainly help align your technology adoption with your goals, as well configure the insights surfaced to align with the metrics you need to be tracking. 

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