LegalShift, LLC Focuses Service on Contract Discovery and Recovery
New Process Model Enables General Counsel to Become a Revenue Generator
CHICAGO, IL–(Aug 11, 2016) – LegalShift, LLC, a leading advisor to corporate general counsel in the areas of process and technology, announces a significant new service offering enabling general counsel and their legal teams to identify areas of risk and opportunities for revenue recovery, thereby turning the law department into an actual profit center. While not a replacement for contract lifecycle management solutions, contract discovery tools and methods provide different capabilities and can be run independent of (or in conjunction with) the contract management process.
In a just published August, 2016 article in Corporate Counsel, How Electronic Discovery Gave Birth to Contract Recovery, a new approach is outlined based on the belief that the real benefit of properly monitoring and controlling contracts is in leveraging terms and conditions to maximize their value and/or minimize noncompliance with laws and regulations. In consideration of the need for a pragmatic approach to contract discovery, a suggested process model (similar in nature to that used in managing electronic discovery) is provided.
“The tactics of managing contract obligations through traditional contract management and matter management systems do not allow the organization to be strategic. This new approach allows general counsel to innovate and identify opportunities (cost, risk, time and revenues) in proactive use of contract assets” states LegalShift Managing Director and Corporate Counsel Scott Rosenberg. He adds, “A company may implement a contract discovery solution without even having a contract management system in place.”
LegalShift President/CEO Dan Safran shares, “We continue expanding our services to focus on the areas of interest of greatest impact and value to the general counsel. Our contract discovery and compliance service offerings support our overall mission of helping turn in-house lawyers into risk arbiters and revenue generators. These services tie well into our current stable of Knowledge Management skills and solutions.”
About LegalShift, LLC
LegalShift is a consulting and business advisory services firm launched in 2015 to help in-house legal teams and their law firms better manage legal portfolios, improve business operations and reduce legal spend. The company offers strategic guidance and tactical know-how in areas of financial spend, legal project management, process improvement, legal service delivery, organizational change and technology deployment.