Contract Heroes

(0:00:05) - AI in Legal Practice With Damien Exploring AI's role in law with Damien Riel, discussing reducing drudgery and standardizing legal data through SALI Alliance. (0:06:34) - Streamlining Legal Research With Sally SALI's legal data standards and AI's use of tags enhance legal research and promote universal understanding in the international legal industry. (0:17:31) - Utilizing AI for Contract Management Nature's structured tagging systems, Sally tags, are integrated in legal questions for business. AI tools aid in contract management and data-driven approaches enhance accuracy in negotiations. (0:24:26) - AI in Legal Systems Nature's contract analysis with vector space, AI bridging legal systems, and VLex's taxonomies for accurate translation. (0:28:10) - Leveraging AI for Legal Efficiency AI's impact on the legal industry, including 2023 tech layoffs, reshaping workflows, replacing tasks, and streamlining operations. (0:40:29) - Legal Data and Language Models LLMs have a transformative impact on legal research, offering out-of-the-box solutions and reducing the need for extensive human labor. (0:48:06) - Leveraging Technology in Legal Industry Organizational buy-in for integrating GPT-3.5 and GPT-4 into legal tech stack, data privacy, evolving skills in legal profession. (0:54:04) - Exploring Future Growth in CLM Damian shares insights on technological advancement and its applications, while Coho guides individuals through the complexities of CLM.

(0:00:01) - Legal Ops and Tech at Netflix Legal ops at tech companies like Netflix and Spotify, challenges of tech adoption, fostering engagement and learning, and evolution of legal ops. (0:04:49) - Evolution of Legal Technology Careers From touring musician to legal ops professional, embracing change and innovation leads to rewarding career growth. (0:17:51) - Boosting User Adoption Through Training Pivot tables simplify data analysis for legal professionals and humor adds value to educational content for Cisco employees. (0:32:57) - Creative Video Production in Corporate Settings TV inundation, addressing information gaps, creativity in law, evergreen content, impactful video presentation for Netflix's legal department during COVID. (0:44:23) - Utilizing Visual Aids for Learning Nature's power of visual learning through videos for corporate training, using professional voice actors and avoiding content overload. (0:54:22) - Inspiring Conversation on Video Sharing Nature's innovative experiences can be shared for education and customer engagement, with advice for those inspired.

(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...

Join Matthew Rinker of DocuSign as we uncover the power of Contract Lifecycle Management (CLM) for seamless collaboration and speedy deal closures. Discover how modern CLM tools eliminate the tedious back-and-forth of contract negotiations and bring transparency to the approval process. Matthew's expertise in legal technology and sales sheds light on the transformative efficiencies of CLM systems, revolutionizing sales outcomes. Explore how CLM integrates with platforms like Salesforce, offering a competitive edge in deal forecasting and closure. Learn about shared investment opportunities in CLM tools, reshaping resource allocation for sales and legal departments. Gain actionable strategies for CLM adoption and user efficiency, including management buy-in and CLM champion identification. Explore the importance of a robust support network for successful CLM implementation, with practical examples of streamlined NDA processes and proactive contract renewal notifications. Don't miss out on unlocking the full potential of CLM for your organization's growth and success.

What We Discuss: Notable Quotes: Useful Resources & Links: ThoughtRiver WebsiteJames Peacock on LinkedInon Apple Podcastson SpotifyThe Contract Heroes Official WebsiteMarc Doucette on LinkedInPepe Toriello on LinkedIn

WHAT WE DISCUSS: NOTABLE QUOTES: USEFUL RESOURCES & LINKS: Data Dog WebsiteLaurie Erhlich on LinkedInon Apple Podcastson SpotifyThe Contract Heroes Official WebsiteMarc Doucette on LinkedInPepe Toriello on LinkedIn

WHAT WE DISCUSS: NOTABLE QUOTES: USEFUL RESOURCES & LINKS: Deloitte WebsiteMark Ross on LinkedInon Apple Podcastson SpotifyThe Contract Heroes Official WebsiteMarc Doucette on LinkedInPepe Toriello on LinkedIn

WHAT WE DISCUSS: NOTABLE QUOTES: USEFUL RESOURCES & LINKS: Agiloft WebsitePrashant Dubey on LinkedInon Apple Podcastson SpotifyThe Contract Heroes Official WebsiteMarc Doucette on LinkedInPepe Toriello on LinkedIn

WHAT WE DISCUSS: NOTABLE QUOTES: USEFUL RESOURCES & LINKS: Legaltech Hub WebsiteNikki Shaver on LinkedInon Apple Podcastson SpotifyThe Contract Heroes Official WebsiteMarc Doucette on LinkedInPepe Toriello on LinkedIn

WHAT WE DISCUSS: NOTABLE QUOTES: USEFUL RESOURCES & LINKS: SYKE WebsiteAlistair Maiden on LinkedInon Apple Podcastson SpotifyMarc Doucette on LinkedInPepe 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: NOTABLE QUOTES: USEFUL RESOURCES & LINKS: Ironclad WebsiteMary O'Carroll on LinkedInLaura Frederick on LinkedInHow to Contract WebsiteContracts Con WebsiteDebbie Hoffman on LinkedInWestern Union Websiteon Apple Podcastson SpotifyThe Contract Heroes Official WebsiteMarc Doucette on LinkedInPepe Toriello on LinkedInPepe 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: NOTABLE QUOTES: USEFUL RESOURCES & LINKS: CrushContracts WebsiteRoma Khan on LinkedInon Apple Podcastson SpotifyThe Contract Heroes Official WebsiteMarc Doucette on LinkedInPepe Toriello on LinkedInPepe 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: NOTABLE QUOTES: USEFUL RESOURCES & LINKS: Intel WebsiteKuan Yu Liu on LinkedInDonovan Bell on LinkedInGerald Wright on LinkedInon Apple Podcastson SpotifyThe Contract Heroes Official WebsiteMarc Doucette on LinkedInPepe Toriello on LinkedInPepe 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: NOTABLE QUOTES: USEFUL RESOURCES & LINKS: Boeing WebsiteSol Brody on LinkedInon Apple Podcastson SpotifyThe Contract Heroes Official WebsiteMarc Doucette on LinkedInPepe Toriello on LinkedInPepe 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: NOTABLE QUOTES: USEFUL RESOURCES & LINKS: SYKE WebsiteLOD WebsiteTrayce Marcelle on LinkedInon Apple Podcastson SpotifyThe Contract Heroes Official WebsiteMarc Doucette on LinkedInPepe Toriello on LinkedInPepe 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: NOTABLE QUOTES: USEFUL RESOURCES & LINKS: Accor WebsiteJames Donald on LinkedInon Apple Podcastson SpotifyThe Contract Heroes Official WebsiteMarc Doucette on LinkedInPepe Toriello on LinkedInPepe 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: NOTABLE QUOTES: USEFUL RESOURCES & LINKS: Courtney Irelan on LinkedInon Apple Podcastson SpotifyThe Contract Heroes Official WebsiteMarc Doucette on LinkedInPepe Toriello on LinkedInPepe Toriello on TwitterMentioned Practical Tips on How to Contract by Laura FrederickContractsCon linkContract NerdsContract 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: NOTABLE QUOTES: USEFUL RESOURCES & LINKS: ForresterThe Forrester Wave™: Contract Lifecycle Management, Q2, 2023Alla Valente on LinkedInon Apple Podcastson SpotifyThe Contract Heroes Official WebsiteMarc Doucette on LinkedInPepe Toriello on LinkedInPepe 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: NOTABLE QUOTES: USEFUL RESOURCES & LINKS: WebsiteLinkedInDavid Cho on LinkedInon Apple Podcastson SpotifyMarc Doucette on LinkedInPepe Toriello on LinkedIn

WHAT WE DISCUSS: NOTABLE QUOTES: USEFUL RESOURCES & LINKS: Agiloft WebsiteAndy Wishart on LinkedInMitratech WebsiteJustin Silverman on LinkedIn on Apple Podcastson Spotify