FTI Consulting, Inc. announces that the firm’s Technology segment has entered into a partnership with Agiloft, a global no-code contract lifecycle management (“CLM”) solution provider. FTI Technology’s Corporate Legal Operations practice will work strategically with Agiloft to help clients improve return on investment and accelerate adoption for their CLM implementations.
According to a Blickstein Group study, nearly half (47.2%) of legal departments consider CLM automation and process improvements to be one of their highest priorities. At the same time, contracting solutions are among the most complex institutional and legal department technologies to implement. FTI Technology advises clients at all stages of their CLM journey, from assessing current processes and identifying key risk areas to technology selection, implementation, ongoing management and adoption. The partnership with Agiloft will support clients in automating contracting processes to reduce costs, improve governance and drive efficiencies.
“Realizing the stated benefits of CLM solutions can be extremely challenging, especially with the increasing number of solution providers in the market,” said Wafik Guirgis, a Senior Managing Director and global Co-Leader of FTI Technology’s Corporate Legal Operations practice. “Selection, preparation and implementation require tremendous investment of time, people and other resources, as well as nuanced change management. To quickly achieve results from a CLM solution investment, organisations need a clear understanding of contracting operations and a solution partner that has demonstrable success in reliably addressing challenges. By partnering with leading solution providers like Agiloft, we can better assist our clients in obtaining their transformation goals, like speed-to-market and other critical commercial efficiency objectives.”
Agiloft’s flexible no-code CLM platform offers an adaptable solution and extensive integration capabilities that allow contract data to flow through more than 400 enterprise applications. The solution has received top vendor scores from analyst firms, including being named a Leader in The Forrester Wave™: Contract Lifecycle Management, Q2 2023, with the highest scores possible in 17 criteria: contract management, workflow, dashboards/reports/visualisations, user experience, vision, innovation, roadmap and more.
“As the legal operations function increasingly becomes a strategic driver for business, demand for CLM solutions is growing to help meet those needs,” said Steve McKean, VP of Global Alliances at Agiloft. “Coupling Agiloft’s flexible platform with FTI Technology’s technical knowledge and implementation talent is a potent mix that will enable the delivery of powerful solutions for legal, procurement, sales and IT teams. Our partnership with FTI Technology will help provide a return on investment for clients looking to modernise their contract management and empower better contracting across the business.”
FTI Technology’s Corporate Legal Operations practice helps organisations achieve operational efficiencies and measurable results across the legal operations spectrum, using the technology and services that best meet their needs. Within this practice, experts have a proven track record of helping legal departments align their operations programs with business goals and develop customised solutions that empower in-house teams. The firm’s legal operations advisory, services, and technology offerings cover every phase of the legal operations journey, from assessment and recommendation to implementation and measurement. This comprehensive approach ensures that legal operations professionals can understand and improve their current state, future needs, best practices, technology enablement and performance benchmarks.
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