• Contract lifecycle management

  A recent survey of 1,000 contracting professionals revealed an array of challenges facing contracting teams. One in three large organizations are planning to reduce contracting costs by 30% or more, but as many as 70% struggle to implement effective contracting policies. Also more than 50% of business development professionals report that contracting processes – or lack of them – have cost them business. In response, 92% of organizations are transforming the way contracting is handled and 70% have a formal contracting technology strategy, yet 99% still don’t have the data and technology needed to optimize their contracting processes. This highlights a large gap between strategy and effective execution.

  Legal Managed Services contracting teams work with legal departments, procurement and other stakeholders to define and execute a tailored and technology-driven approach to contracting initiatives of all sizes. These include discrete projects, ongoing business-as-usual contracting needs and function-wide transformation efforts. In doing so, EY contracting teams help deploy the best mix of processes, technology and people to strike the required balance between business enablement, cost savings, transparency and effective risk management.  

  The potential impact:

  • 40% reduction in contracting costs

   

  • 60% reduction in contract cycle times

   

  • Access to real-time contract insights

   

  • 20-40% reduction in contract value leakage

   

  • Examples where clients have used the services:

   

  • Procurement and supply chain contracting

  • M&A deal preparation

   

  • Regulatory driven contract remediation in relation to Interbank Offered Rates (IBOR) transition, General Data Protection Regulation (GDPR), Initial Margin and Brexit

   

  • Outsourced facilitation of markets documentation, such as International Swaps and Derivatives Association Master

   

  •  Agreements, Global Master Repurchase Agreements and Global Master Securities Lending Agreements

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• Entity compliance and governance

  Our Legal Managed Services team helps multinational companies and their legal entities meet the relevant and ever-evolving statutory compliance and reporting obligations, which differ by country and jurisdiction. We deliver an integrated and holistic approach across the legal entity lifecycle.

  Examples where clients have used our services:

  • Facilitating statutory filings across jurisdictions

   

  • Supporting transaction-related activities (e.g., acquisitions, divestitures)

   

  • Performing legal entity health checks and transformation reviews

   

  • Building and maintaining legal entity management databases

   

  • Undertaking governance model assessment and design

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• Research and regulatory mapping

  We give organizations critical knowledge that helps them identify and meet their legal and regulatory obligations in order to manage business, operational, and reputational risks associated with non-compliance.

  Our services seamlessly and cost-effectively monitor regulatory change, alerts the organization to risk conditions, and enables accountability and collaboration around changes impacting the company.

  Examples where clients have used our services:

  • Building and maintaining digital inventories of relevant legal obligations

   

  • Mapping legal obligations to internal processes and policies

   

  • Assessing risk relating to process and policy gaps

   

  • Building regulatory change management processes

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• Document review and functional analysis

  Our Legal Managed Services team helps legal functions reduce the onerous burden of document review and gain greater control over costs and insights into key data impacting cases and the business. By leveraging legal, technical and business process talent in high-quality, cost-efficient delivery centers, we help clients achieve continuity, cost certainty and scale. This allows the client to refocus their internal resources on more strategic work.

  Examples where clients have used our services:

  • Reviewing non-English language audio and video files

   

  • Extracting key data to help inform business decisions

   

  • Redacting data involving confidential and personal information

   

  • Undertaking deviation analysis and risk review

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The team

Dan Hendy

EY Global Legal Transform and Operate Leader

Passionate about legal innovation and building high-performing teams. Boston-based. Husband and father of three girls.

Boston, USA

Seth McNary

EY Global and Americas Entity Compliance and Governance (ECG) Leader

Services leader in entity compliance and governance. Focused on transformation, process improvement and compliance best practices.

New York, USA

Rishi Ballakhan

EY Asean Legal Operations Leader

Helps create and deliver innovative solutions to support legal departments. Motivated by people, culture and diversity. Global citizen, movie buff and sports fan.

Singapore, SGP

Jonathan Kenton

EY Oceania Head of Legal Operations

Experienced strategic enabler. Passionate about driving change in the legal industry.

Sydney, AUS

Maurus Schreyvogel

EY EMEIA Legal Operations Leader; Partner, Law, Ernst & Young AG

Driven legal innovation and operations leader. Dedicated his entire career to reimagine the practice of law. Passionate volunteer.

Basel, CHE

How EY can help