Vaishali Gopal, an expert in innovation in the legal space, shares her career journey and insights on implementing technology and process improvements in legal teams. She discusses her experience at Pramata, where she worked on contract review, sales solutions, and product development. She then transitioned to her current role at COUNSELECT, where she helps legal teams with innovation and transformation. Vaishali emphasizes the importance of understanding business problems and designing solutions that enable different stakeholders. She also highlights the need for adoption by design and optimizing existing tools before considering new technology.

In this conversation, Kami Paulsen and Vaishali Gopal discuss the role of centers of excellence in contracting and the importance of process and talent in driving innovation in legal teams. They also explore other areas of innovation in legal, such as litigation management tools and spend management with outside counsel. They highlight the shift in how legal departments are run, with a focus on being more business-focused and strategic. They discuss the need for legal teams to understand the business in depth and collaborate with stakeholders to drive change. The conversation concludes with a summary of the top areas to focus on for innovation in legal departments: understanding the service portfolio, investing in knowledge management, and leveraging technology.

Chapters

00:00 Introduction and Career Background

11:42 Transition into Innovation and Transformation

15:47 Getting Started with Innovation and Transformation

20:10 The Role of Centers of Excellence in Contracting

24:32 Exploring Innovation in Legal: Litigation Management and Spend Management

30:31 The Shift Towards Business-Focused and Strategic Legal Departments

39:19 Key Areas to Focus on for Innovation in Legal Departments

Takeaways

Understanding business problems and designing solutions that enable different stakeholders is crucial in the legal space.

Adoption by design and optimizing existing tools should be prioritized before considering new technology.

Implementing innovation and transformation in legal teams requires a comprehensive approach that considers various areas, such as technology, contracts, matter management, and operating models. Setting up a center of excellence for contracting can be done through baby steps, starting with simpler areas like NDAs and gradually expanding to more complex contracts. Centers of excellence are valuable in automating and optimizing contracting processes.

Process and talent are key factors in driving innovation in legal teams.

Other areas of innovation in legal include litigation management tools and spend management with outside counsel.

Legal departments are shifting towards being more business-focused and strategic.

Understanding the service portfolio, investing in knowledge management, and leveraging technology are important areas to focus on for innovation in legal departments.

For more great lessons from the field, and all the CLM content, connect with us here:

• The CLM Rx Book
• The CLM Rx YouTube Channel
• The CLM Rx LinkedIn
• Kami Paulsen LinkedIn
• Vaishali Gopal LinkedIn

If you implement Contract Lifecycle Management Software ("CLM"), have purchased CLM, are considering purchasing CLM, or expanding your existing CLM footprint, this channel is for you! Kami speaks to CLM practitioners, CLM Vendors, and visionaries on the most pressing topics in the space. She shares practical advice based on her 15 years implementing various CLM software tools for organizations of all sizes, in every vertical.