Speed-to-contract is vital to your revenues.
As a P&L executive you know that.
As a former P&L executive — now practicing law — I know that.
But too many lawyers just don’t. They focus on verbal tweaks and “improvements” that hold up the process.
It was only after I accepted a corporate client’s invitation to leave law practice and run one of its divisions that I understood how important timely execution is to doing the deal. Until then I was preoccupied, like most of my lawyer colleagues, with constant adjustment of terms in pursuit of a legally perfect document.
Of course the answer can’t be that we eliminate attorneys’ contribution to all this. Speed-to-contract that ends up with the wrong contract terms is self-defeating.
But now there’s technology that helps to accelerate the pace, while incorporating good legal guidance into a much more agile and timely process.