CLOs and GCs want more analytics in order to determine where to focus their improvement efforts. Most departments lack key performance indicators (KPIs) for the following reasons.
Disparate tools that make up the department’s tech stack.
Most of these systems lack cohesive workflow, nor do they produce audit trails. Audit trails provide the necessary detail for process improvement.
Access to transaction details are often missing. Without visibility into these systems, it is impossible to determine where effort and the associated time is being spent.
As an alternative to paying the vendor to build elaborate customizations, plan on wrapping your existing legal department applications with workflow. MyLegal provides a cost-effective way to extend an application’s capabilities, while at the same time obtaining the audit trails needed to support valuable analytics.
MyLegal delivers an analytics suite and supports a full audit trail of all work activities. Now CLOs and GCs can get the KPIs they need to make effective decisions for the department.
Leverage an enterprise capable platform for less cost than simple workflow tools.