Following the rationalisation drives that many Dutch companies have had to undergo in recent years, the focus has now shifted to corporate legal departments. Predictability, cost-cutting and continuity of service are now key. Unsurprisingly, this is leading more and more companies to look for ways to outsource their legal back office.
Legadex has devised an all-in-one concept to take much of the burden of the legal back office away from companies and their legal departments: Legadex Online. What is Legadex Online and who could benefit from it?
Growing demand for a full-service solution
A growing number of companies want to outsource their corporate support processes: in other words, the processes that must be kept up and running but are not part of their core business. In recent years, our clients have increasingly been looking for suitable opportunities for the full outsourcing of their legal back office, such as corporate housekeeping and contract management. In most companies, this work is done by in-house staff who add it to their existing duties. What is more, many are still using paper-based files or non-specialist software. This is a messy way of working; it lacks transparency, is incomplete and involves unnecessary risks due to information issues or miscommunication.
Legadex Online resolves these problems hand in hand by taking over a company’s entire legal back office. Legadex has been doing this successfully for some time, both for large corporates with legal departments and for companies with no corporate lawyers who do not want to have to worry about their legal back office.
Combined platform and services
One prerequisite for successful outsourcing is that the client and service provider should work together using a clearly formalised work process and direct access to shared information. To make things as easy as possible for the client, a combined information platform and service concept is often recommended.
Legadex Online combines an online platform with Legadex’s own professional legal and paralegal services, using the tried and tested ‘effacts’ software platform by Wolters Kluwer. A license to use the platform is part of the Legadex service for an all-in fixed fee. It could not be easier.
Legadex will then permanently maintain and structure the company’s entire legal back office on the platform. This includes aspects such as updating legal documentation for companies in the group (corporate housekeeping), contract management and compliance & risk management. If necessary, we can also broaden the package to include services relating to privacy law (GDPR) and client acceptance (KYC) rules. The platform is equipped with extensive workflow and reporting tools as well as search and alert functions that flag up forthcoming contract expiry dates early.
Legadex uses its knowledge and experience to get the platform installed and operational in just a few days. It will then enter all the information required in cooperation with the client. Finally, it will add ongoing support based on a managed services contract. The client can log in 24/7 and will have an immediate overview of the current status of their legal records, together with key statistics, at all times.
By outsourcing their corporate legal back office and contract management, companies can improve their legal compliance and save themselves considerable time and expense. The cost of Legadex Online is highly predictable: a fixed fee starting from € 500 per month will give you a complete service package, including the platform. So if you are interested in improving the management of your legal back office, please contact Frederike Sips (Managing Director of Legadex) or Jacqueline Bloem (Team Leader Corporate) on +31 (0)20-820 8396 or send an email to email@example.com for more information or to arrange for a demo.