LexisNexis® CounselLink+™ is a cloud-based enterprise legal management (ELM) and contract lifecycle management (CLM) resolution integrating unique LexisNexis content material in a single collaborative platform to learn company authorized departments. With a totally built-in CLM and entry to proprietary LexisNexis content material, CounselLink+ is a authorized operations hub with essential information and instruments in a single, collaborative platform.
It’s an easy-to-use ELM that gives the pliability of matter administration, monetary administration, contract lifecycle management, vendor administration, and work administration options. The product promotes easy authorized and operations collaboration, workflow effectivity, productiveness, and 360-degree visibility into issues, contracts, funds, work, analytics, and distributors. Knowledge-driven analytical reporting with scorecards developed in customized dashboards informs enterprise-wide stakeholders of legislation division efficiency, productiveness and authorized spend. With superior, AI-driven invoice overview, authorized operations can cut back authorized spend with automated bill overview that flags and corrects errors.
Everybody who requires details about the authorized division, together with basic counsel, chief authorized officers, authorized operations, legal professionals, and out of doors counsel can make the most of CounselLink+ to their benefit.
CounselLink+ Enterprise Authorized Administration and Contract Lifecycle Administration Options
Among the options of CounselLink+ for the authorized division embody:
Matter Administration
The core of enterprise legal management software program is matter administration, and CounselLink+ gives a single, cloud-based matter profile that serves as a hub for all matter-related actions. Further options of the ELM matter administration performance embody configurable information fields, display screen layouts and matter relationships; managed legislation agency projects for related issues; journaling; doc administration with check-in/check-out and versioning, full-text looking out, and role-based safety. In-house counsel can invite legislation corporations to seek the advice of on issues and submit invoices utilizing the CounselLink+ platform.
Contract Lifecycle Administration
Among the finest ELM software program options with CounselLink+ is the power to hyperlink to contracts from a respective matter, offering higher effectivity for the authorized group. Attorneys now not want to go looking endlessly to reference the precise contract, saving beneficial time. This additionally enhances compliance and ease of oversight, whereas making certain documentation is precisely aligned with related authorized actions.
Contract drafting is seamlessly built-in with Microsoft Phrase through the CounselLink+ Phrase plug-in. This creates environment friendly contract drafting from begin to end with streamlined workflows and enhanced productiveness.
These authoring contracts can entry tons of of contract templates from LexisNexis Sensible Steerage®, facilitating standardization and customization throughout key apply areas. The contract drafting expertise inside the ELM atmosphere improves regulatory compliance, authoring, negotiation, seamless drafting, and signoff cycle time.
Monetary Administration
Authorized spend is likely one of the most difficult duties that authorized operations professionals face. Outdoors counsel associate charges are rising exponentially, and financial management of the authorized division finances is essential. With CounselLink+, Basic Counsel can make the most of SmartReview®, an AI-powered superior algorithm that routinely opinions legislation agency invoices, identifies errors and corrects them. The billing pointers established by the authorized division are enforced. The authorized group saves beneficial time as they now not must overview invoices manually. Errors are flagged and invoices are renegotiated for higher price financial savings.
Work Consumption Powered by AI
One, generally cumbersome, facet of the authorized division is work management and intake. It requires a streamlined strategy in order that requests for authorized assist are triaged and managed effectively.
CounselLink+ makes use of a authorized assistant, “Ask Authorized” accessible on Microsoft Groups, to supply AI authorized assist. AI-generated responses to easy authorized questions from enterprise stakeholders are automated, enabling environment friendly dealing with of upper quantity requests whereas sustaining service high quality. These requests that want higher-level consideration might be added to the queue for authorized group administration.
Analytical Reporting & Visibility
Knowledge-driven analytical experiences are created from customized dashboards and scorecards. The efficiency and productiveness of the authorized division group and out of doors counsel are monitored and reported to company management and stakeholders. Reviews spotlight progress, and initiatives are generated with visible graphics in order that management has 360-degree visibility surrounding issues, contracts and vendor relationships.
Vendor Administration Enhancements
Regulation corporations might be invited to collaborate on the CounselLink+ platform to enhance matter communication and vendor management with in-house counsel. They will additionally submit invoices inside the atmosphere utilizing established billing pointers. Shareable paperwork are offered inside the CounselLink+ portal so distributors and the authorized group can extra successfully talk and collaborate.
Centralized and Unified Workspace
CounselLink+ integrates unique LexisNexis assets into one, conveniently centralized and unified workspace providing authorized and operations groups the chance to handle their total workday. Customers have one-click entry to the LexisNexis ecosystem in order that different options are simply accessible.
Authorized departments using CounselLink obtain a mean ROI of 13x their CounselLink spend, in response to information culled from the 2023 CounselLink buyer benchmark database.
LexisNexis® CounselLink® delivers 360-degree visibility to authorized departments and their stakeholders. To learn more about CounselLink+ contact us.
