Leverage LPO's: Services vs. Technology
In today’s highly automated workplace, there seems to be an app or software solution for just about any task imaginable, and lease management has certainly been swept up in this technology tornado. But does the simple loading of leases into a document management solution solve your problem, or should you first consider utilizing a Legal Process Outsourcing (LPO) company to conduct an extensive audit and abstract of your current portfolio(s)? Here are three points:
- Garbage In – Garbage Out. Even if your business is fortunate enough to purchase a customized software solution for your business needs (which let’s face it, most organizations just don’t have that as a line item in their budget), you still need to extract all of the information from every lease and input that into your system. It requires focus and dedicated resources to ensure it is accurate and reliable. Who is going to do this? Your sales team? In-house counsel? Outside counsel? Any of these options can be costly, time consuming, and may not be solely focused on this one task.
- Resource Scarcity, Most small and midsize businesses don't have the luxury of a leasing department. Maybe you have a small in-house legal staff, a general counsel, or maybe you outsource lease management to outside counsel. Reviewing, abstracting, and managing all your leases can be a major distraction and very time-consuming for these high value resources.
- Keep that Momentum Going. So you’ve got your system up and running, and you have your reports set up. That’s great! But now who’s going to keep everything current when new leases are signed? And what about audits? Or due diligence reporting for re-fi, transactions, or sale events? These are all necessary to ensure that the investment you made to improving lease management wasn’t wasted and that the time you invested continues to pay off down the road.
If these concerns ring all too familiar to you, then Agile Legal Services may be the solution you need. Agile is a tenured team of attorneys, paralegals, contract administrators, and legal support professionals--not a law firm--with a minimum of 10 years experience handling contracts. From finding and abstracting to the ongoing management of your contracts, Agile provides a full-service contract management solution.
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Senior Level Legal Professionals
- On-demand access
- Specialized support
- Diverse range of practice areas
- Attorneys, paralegals, and other legal professionals
*Proven experience that delivers a single point of contact for your firm collaboration from start to finish* Agile Legal Services is not a law firm. Our work product should not replace competent legal advice.