Contract Heroes

This week’s episode of the “Contract Heros” podcast features Brendan Raybuck, Chief Revenue Officer at ClearLaw. 

He is an expert in enterprise software, assisting organizations in developing strong sales and partner networks that drive business growth by providing top solutions. He specializes in digital channel sales ecosystems and partner engagement. He has experience creating go-to-market strategies, leading marketing initiatives, and fostering growth for digital agencies as an executive.

Starting today’s conversation, Brendan shares his career background along with the services they provide at ClearLaw. We talk about the complexity of contracts and the importance of structuring contracts in a way that software can analyze them effectively, ensuring that all obligations are clearly outlined to avoid potential liabilities during contract management. Brendan shares his views on the transformation of legal departments, particularly through the use of data in legal tech. He highlights how, similar to the transformation of marketing roles with analytics, chief legal officers can leverage data to improve collaboration across departments, enhance customer support, and ultimately drive revenue.

In this phase of the conversation, we move on to discuss the importance of CLM. Beyond accelerating contract execution and lowering legal expenses, its true value is in leveraging contractual data to address larger business challenges such as compliance and marketing needs. Wrapping up the conversation, Brendan kindly shares the critical questions you need to ask when evaluating CLM vendors to ensure their solutions can effectively meet your needs.

EPISODE HIGHLIGHTS

[00.36] Brendan’s background and what ClearLaw offers the market.

[03.33] How ClearLaw’s contracting intelligence AI works.

[06.30] Complexity of contracts.

[11.10] Advantages of structuring a contract data.

[14.36] The transformation of legal departments.

[18.49] The importance of Contract Lifecycle Management (CLM).

[24.48] Data-driven transformation, elevating legal functions in the corporate landscape.

[26.24] Complex compliance and regulatory environment.

[30.40] Critical questions for evaluating CLM vendors.

RESOURCES

Connect with Brendan

LinkedIn - linkedin.com/in/brendanraybuck/

Website - clearlaw.ai/ 

Key Points:

1. Introduction to Richard Robinson:
   • Background in legal tech and litigation support.
   • Career journey from law firms to corporate in-house roles, including JC Penney and Toyota.
2. Transition to Toyota:
   • Inherited a mature legal operations team at Toyota.
   • Initial challenges and the impact of COVID-19 on operations.
3. Core Competencies of CLOC:
   • Discussion on the 12 core principles of CLOC.
   • Emphasis on technology and business intelligence.
4. Strategic Approach to Technology:
   • Importance of aligning technology with business strategy.
   • People, process, and technology as the three pillars of legal operations.
5. Stakeholder Engagement:
   • Identifying and involving the right stakeholders.
   • Importance of communication and emotional intelligence in managing change.
6. Power Skills in Legal Operations:
   • Collaboration, emotional intelligence, problem-solving, communication, and leadership.
   • Listening and understanding root causes before implementing solutions.
7. Mentorship and Industry Engagement:
   • Richard's commitment to mentorship and building up others in the industry.
   • Encouragement to connect on LinkedIn for further conversations.

Key Points:

Introduction to Tiffany Hamilton:

• Director of Legal Innovation, Analytics, and Technology at DHL Supply Chain.
• Eight and a half years at DHL, starting as the sole legal ops resource.

Building the Legal Ops Team:

• Initial challenges and strategic growth of the legal ops team.
• Aligning team resources with the CLOCK Core 12 pillars.

Legacy CLM System Migration:

• Issues with the in-house legacy CLM system and the need for a new solution.
• Gathering stakeholder feedback to identify pain points and requirements.

Data Cleanup and Governance:

• The messy process of data cleanup and the importance of data governance.
• Collaboration with the vendor to ensure clean data migration.

Integrating AI in Contract Management:

• Combining a repository with AI capabilities for contract drafting and data extraction.
• Ensuring human oversight at every step to confirm accuracy.

Lessons Learned and Key Takeaways:

• Importance of understanding data and stakeholder needs.
• The role of information governance in system implementation.
• The significance of user adoption for the success of new systems.

Final Thoughts and Contact Information:

• Tiffany’s enthusiasm for data and information governance.
• Invitation to connect with Tiffany on LinkedIn or at industry conferences like CLOCK.

(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 operations and the discussed strategies, we provide information on how to connect with our guest and their company, ZENT.

(0:21:04) - Contract Heroes Sponsored by Coho Consulting (0 Minutes)

This chapter marks the conclusion of another engaging session where we had the pleasure of exchanging insights with our esteemed guest. We touched upon various aspects of contract management and the nuances that can make or break the effectiveness of these systems within organizations. The importance of finding a Contract Lifecycle Management (CLM) tool that fits an organization's unique needs like a glove was underscored, highlighting that whether dealing with procurement or sales, the right tool can streamline processes and ensure seamless operations. Our discussion reiterated the value of expert guidance in navigating the CLM landscape, emphasizing how consulting services, such as those offered by our sponsor Coho Consulting, can be instrumental in tailoring a CLM solution to an organization's specific requirements for long-term success.