The efficiency of outsourcing contract management and the review process can significantly impact the overall success of an organization. Expediting these tasks not only accelerates deal closures and related business deals, it also minimizes the risks associated with not fully evaluating contract terms. Leveraging an external contract support team can benefit businesses looking to streamline this process.
The Challenge of Contract Review Timeframes
The contract review process is a multifaceted procedure involving scrutiny of legal terms, assessment of problematic or conflicting language, and institution of compliance checks. However, internal legal teams often find themselves strained by the overwhelming volume of contracts, leading to holdups in the review process. Tight deadlines and resource constraints further compound the challenge, potentially hindering the ability to meet business timelines effectively.
The Need for Speed in Contract Management
Organizations are constantly seeking ways to expedite processes without compromising accuracy and compliance. The contract review process is no exception. A delay in reviewing and finalizing contracts can have cascading effects, from missed business opportunities to potential disputes arising from unclear terms.
Unlocking Efficiency by Using a Contract Support Team
Outsourcing contract management to a legal support team presents a compelling solution to the challenges involved in the review process.
- Specialized expertise: An external legal support team with specialized expertise in contract management can perform a thorough review of legal terms on an expedited timeline. Because they review contracts as their primary job on a daily basis, they can evaluate irregularities quickly.
- Scalability: Business needs fluctuate and so does the corresponding volume of contracts. Bringing on a contract management partner can provide scalability, allowing organizations to scale up or down based on demand. This flexibility is especially beneficial during peak periods, preventing internal teams from becoming overwhelmed.
- Dedicated resources: External teams bring dedicated resources to grow the contract support team quickly when needed. While internal legal teams may be juggling various responsibilities, an outsourced contract management team can concentrate exclusively on the task at hand, expediting the review process without compromising quality.
- Meeting deadlines: Meeting tight deadlines is a key reason many organizations use external legal support. These teams can increase in size to meet deadlines and are structured to deliver results promptly, without slowing down other internal legal projects.
By partnering with contract support teams that offer specialized expertise, scalability, and dedicated resources, businesses can navigate the complexities of contract management efficiently. Leveraging external support not only accelerates the review process but also positions organizations for success in a rapidly evolving business landscape. For contract support, contact Baer Reed today.
Mr. Reyes graduated with honors from the Ateneo de Manila University, where he received the Procter and Gamble Student Excellence Award. He obtained his Juris Doctor degree from the Ateneo de Manila School of Law. During law school, Mr. Reyes was part of the Philippine delegation to the Willem C. Vis International Commercial Arbitration Moot held in Vienna, Austria. He was also a member of the Ateneo Society of International Law and the St. Thomas More Debate Society. He completed his internship at the Public Attorney’s Office. He wrote a thesis entitled: “To Kill A White Elephant: An Analysis of the Fiduciary Exception to the Corporate Attorney-Client Privilege”. Mr. Reyes is admitted to practice law in the Philippines and the State of New York.
Ms. Lardizabal-Manzano is a graduate of San Sebastian College-Recoletos, where she earned her B.A. in Political Science. In 2003, she received her law degree from Lyceum of the Philippines and was admitted to practice law in 2004.
Matthew Hersh earned a B.A. in Political Science from Columbia University in 1990 and graduated cum laude from Georgetown University Law Center in 1999. He also holds a master’s degree in international relations from the Georgetown University School of Foreign Service.
Cap. Avi Levak (Res. IDF) graduated from from Israel’s prestigious Ben-Gurion University of the Negev with a Bachelor of Science in Computer Science and Mathematics. He is also a Leadership and Communication coach trained in TuT coaching by Alon gal in Israel. Avi specializes in high-level, in-depth analysis of business and client needs, within systems and software strategy and architecture.
Ms. Tyler graduated cum laude from Georgetown University and received her law degree, cum laude, from Georgetown University Law Center. During law school, she interned at the United Nations Economic Commission for Europe. She also worked on The Tax Lawyer journal and was a member of the award-winning Barristers’ Council Mock Trial Team. Ms. Tyler is admitted to practice law in the State of California and the District of Columbia.
Ms. Cruz-Anonuevo graduated cum laude and top nine in her batch from Miriam College with a degree of Bachelor of Arts in InternationalStudies. She obtained her Juris Doctor degree from Ateneo de Manila University School of Law in Rockwell. During law school, she interned in Rivera, Santos, Maranan & Associates. She was also part of Ateneo’s Labor Law Bar Operations. She wrote her thesis on, “Stealing Privacy: Limitations on Media’s Photographic Invasion.,” Ms. Cruz-Anonuevo is admitted to practice law in the Philippines.
Ms. Aquino-Batallones obtained a Bachelor of Arts degree in Development Studies (with Minors in Global Politics and Hispanic Studies) from the Ateneo de Manila University. In 2011, she received her Juris Doctor degree from Ateneo de Manila University School of Law. During law school, she interned at Romulo Mabanta Buenaventura Sayoc & de los Angeles then became an intern of Ateneo Legal Services Center’s Clinical Legal Education Program.
Mr. De Guzman graduated from San Beda College with a degree of Bachelor of Arts Major in Economics and received his law degree from San Beda College of Law. He is multilingual and is fluent in three languages: Chinese, Filipino, and English. He was admitted to the Philippine Bar in 2003.