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HOW TO IMPROVE YOUR RELATIONSHIP WITH THE LEGAL DEPARTMENT


Posted: 04/28/2023 - 00:45
Author: Prashant Dubey

Prashant Dubey, Agiloft’s Chief Strategy Officer and Research Chair, shares 5
strategies procurement can employ to productively incorporate the converging
roles of procurement and legal into daily practice, and how procurement
professionals can create a new, more collaborative, and productive relationship
dynamic with their peers in the legal department.  



 
 
The need for more strategic, collaborative, and partnership-oriented interaction
between procurement and legal departments in the enterprise has never been more
important. Traditionally, procurement is expected to drive business value, not
just through better pricing from vendors, but through strategic ‘category
management.’ Layer onto this the fact that as unexpected and unpredictable
events such as a global pandemic, the invasion of Ukraine, sanctions on Russia,
and resulting deep and broad supply chain disruptions, occurred, procurement is
also expected to be a steward of organizational risk. 
 
At the same time, risk management has always been the traditional driver for the
legal department. However, General Counsel and their legal ops leaders are more
and more expected to be strategic business enablers. Legal and Sourcing,
traditionally “adversarial” groups, are now motivated by the same converging
business drivers, procurement has internalized the importance of contract
management as an enterprise business process, and therefore a vehicle to enable
a more proactive and productive relationship between procurement and legal.
Despite this, due to inherent inefficiencies in contracting processes,
procurement category managers are often forced to focus on tactical tasks vs.
business strategy which creates an often-adversarial relationship between
procurement and legal. To regain control, procurement is creating Contracting
Centers of Excellence enabled by Contract Lifecycle Management and directly
acquiring contract lifecycle management software.
 
5 strategies procurement can employ to create a new, more collaborative, and
productive relationship dynamic with their peers in the legal department.  
 
Here are five strategies to turn your relationship with legal from ‘deal
preventor’ into a ‘business enabler’, which I believe will help to create a
partnership between procurement and legal that has the potential to become the
foundation of enterprise risk management, cost management, and managing
volatility, such as supply chain disruptions caused by pandemics and
macro-economic conditions:
 
1. Collaboratively create an intake protocol for procurement contract requests
from the business. This is the point in the contracting process, if done well,
will cascade efficiency throughout the contracting lifecycle.
 
2. Collaboratively create an intake protocol for legal support requests from
procurement. It is at this juncture where a crisp, clear process can enable
fluid triage by legal and more efficient consumption of valuable lawyer time.
 
3. Create a negotiation playbook with common fallback provisions. Not only will
this enable a more structured approach to risk management but also create the
foundation for more self-serve contracting.
 
4. Develop a contract repository that serves as a single source of truth. A
repository is the foundation of any contract management program since it enables
access to agreements at the point of need and contains detailed data about
contracts that can enable an empirical approach to standardization of
contracting templates and playbooks.
 
5. Analyze and modify starting point templates to reduce negotiation intensity.
Since most companies suffer from “template creep,” an exercise to harmonize
templates, reduce the number of starting points, and bring ending provisions to
the front will reduce the intensity of negotiations between parties, which
accelerates contracting cycle time and enables lawyers to practice more law.
 
The core procurement/legal relationship is no longer about smooth transaction
processing, but rather about creating a more productive relationship that allows
procurement to take control of their contracting destiny and accelerate
contracting cycle times. This also enables lawyers to practice more law and
generate a more uniform application of risk thresholds. The more closely
procurement and legal work together, the better they understand each other’s
priorities, identify areas for improvement, and develop more effective
strategies to drive and grow the business.
 
Last, but certainly not least, both legal and procurement are tortured by the
same basic needs. Too much work relative to available resources and an
often-frustrating focus on non-bespoke, routine, business as usual “tasks” that
do not fully leverage each group’s true intellectual and strategic capabilities.
If this new relationship dynamic enables procurement and legal professionals to
spend more quality time with family and friends, lower daily stress and achieve
new strategic objectives, I foresee the beginning of a long, happy
inter-disciplinary marriage.
Tags: 
Legal
Digital
Transformation
Leadership
Sourcing
Strategy
Procurement
Region: 
Global



ABOUT THE AUTHOR

Prashant Dubey

Prashant Dubey is Agiloft’s Chief Strategy Officer and Research Chair. Legal
industry author, widely recognized CLM visionary, and podinar host, Prashant
Dubey, brings years of battle-hardened CLM process and program expertise to his
role as Agiloft’s Chief Strategy Officer and Research Chair. He has been in the
legal technology industry and services industry for more than 20 years, most
recently at Elevate, and before that as the Founder, President, and CEO at
Sumati.
 
As the global leader in agile contract lifecycle management (CLM) software, and
the only CLM provider to offer a money-back guarantee on their software, Agiloft
is trusted to provide significant savings in purchasing, enable more efficient
legal operations, and accelerate sales cycles, all while drastically lowering
compliance risk. Agiloft’s adaptable no-code platform ensures rapid deployment
and a fully extensible system. Using contracts as the core system of commercial
record, Agiloft’s CLM software leverages AI in a pragmatic manner to improve
contract management for legal departments, procurement, and sales operations.
Visit www.agiloft.com for more.
 



 
 
 


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