A new cloud solution is in the offing Stockkete
Legal outsourcing provider NewGalexy has moved into the technology zone with the launch of two cloud technology-based solutions to help legal departments and law firms reduce costs in key business areas. It has targeted in-house legal departments with ContractPod, a low cost, fixed price, end-to-end contract and document assembly, automation and lifecycle management solution. It has also introduced Practice League for small to medium sized law firms, a practice management system that offers an integrated business environment to help law firms to run lean, highly efficient and profitable businesses.
Pressure to control costs
‘The pressure to control costs is profound for in-house Counsel and law firms alike. Truly cloud-enabled technology presents both camps with the best opportunity to meet their goals,’ New Galexy’s founder Robert Glennie says. ‘With reduced budgets, corporate legal departments need to actively manage their commercial agreements with third parties to get the most bang for their buck. However, due to the number of contracts typically being large, managing this complex function is a time consuming, manpower-intensive and costly exercise. From our interactions with General Counsel as part of our LPO business, we know that contract and document management is one of the biggest challenges that law departments face today.’
Discussing the law firm technology, he said that in today’s ever-increasing competitive environment, law firms needed to maximise operational efficiency and optimise resources in order to develop commercially sustainable yet profitable businesses. ‘However for many law firms, traditional PMSs are out of reach due to the substantial financial investment involved,’ Mr Glennie said.