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Legito PowerUp 2022: Panel Discussion – Automation in Real Estate Industry

Legito PowerUp 2022: Panel Discussion – Automation in Real Estate Industry

Watch the panel discussion from Legito PowerUp 2022 where innovators in Real Estate have shared their experience and practical tips from their successful adoption of automation.

The host of our panel discussion, Noel O’Connel, was asking 4 esteemed guests about their approach to finding a solution to their most significant challenges concerning automation.

Panelists:

  • Andrea Daňhelová  (Fincentrum Reality)
  • Duong Hong
  • Ingeborg Deykers and Nel Pelle (Royal BAM Group)

Legito PowerUp 2022: Panel Discussion – Automation in Real Estate Industry

Watch the panel discussion from Legito PowerUp 2022 where innovators in Real Estate have shared their experience and practical tips from their successful adoption of automation.

The host of our panel discussion, Noel O’Connel, was asking 4 esteemed guests about their approach to finding a solution to their most significant challenges concerning automation.

Panelists:

  • Andrea Daňhelová  (Fincentrum Reality)
  • Duong Hong
  • Ingeborg Deykers and Nel Pelle (Royal BAM Group)

Start Automating Now

Legito PowerUp 2022: Panel Discussion – Automation for Sourcing and Procurement Departments

Legito PowerUp 2022: Panel Discussion – Automation for Sourcing and Procurement Departments

The first panel session at PowerUp conference heard from two different organisations sharing similar requirements when deploying Legito for buy-side departments.

American Trade & Finance provides lending services across five continents. Lending is a heavily regulated sector, and operating under multiple jurisdictions adds another level of complication. The result: 75 documents are needed for each transaction, and some of those documents are 100+ pages long.

The panel learned how they deployed Legito to solve several challenges:

  • The organisation had templates, but scattered across the computers of different people, with no reliable way to know who had the authoritative versions.
  • It was cumbersome to copy information needed for one document for use in another.
  • Compiling the documents for each transaction was manual and therefore vulnerable to human error.

Diversity of a different kind was the challenge for the second panel contributor: the diversity of products and services (including intellectual property) that needed to be correctly managed by the procurement team. Legito works like a database for the different requirements matched to the subject matter of the procurement. When they need to procure something for the first time, the solution’s capability expands and can be re-used on the next occasion.

The panel also discussed how Legito is used to create links between business development teams, compliance teams, and Finance. The solution allowed the business development team to work at pace because they were equipped with a solution to generate documents, including invoices, without needing to wait for colleagues in the other teams.

💡Tips for successful deployments:

  • Don’t automate broken systems or documents. Adopting a new solution is a good time to implement improvements.
  • The best way to overcome sceptical or conservative colleagues is to deploy a solution that was a ‘wow factor’ – make it nice to use and demonstrate that the solution deals with a known problem.
  • Listen to feedback from users and act on feedback, quickly.

We thank Pavlin Stoyanoff and Galya Oster for beign part of Legito PowerUp 2022 and sharing their experience and useful tips for successful deployments.

 

Legito PowerUp 2022: Panel Discussion – Automation for Sourcing and Procurement Departments

The first panel session at PowerUp conference heard from two different organisations sharing similar requirements when deploying Legito for buy-side departments.

American Trade & Finance provides lending services across five continents. Lending is a heavily regulated sector, and operating under multiple jurisdictions adds another level of complication. The result: 75 documents are needed for each transaction, and some of those documents are 100+ pages long.

The panel learned how they deployed Legito to solve several challenges:

  • The organisation had templates, but scattered across the computers of different people, with no reliable way to know who had the authoritative versions.
  • It was cumbersome to copy information needed for one document for use in another.
  • Compiling the documents for each transaction was manual and therefore vulnerable to human error.

Diversity of a different kind was the challenge for the second panel contributor: the diversity of products and services (including intellectual property) that needed to be correctly managed by the procurement team. Legito works like a database for the different requirements matched to the subject matter of the procurement. When they need to procure something for the first time, the solution’s capability expands and can be re-used on the next occasion.

The panel also discussed how Legito is used to create links between business development teams, compliance teams, and Finance. The solution allowed the business development team to work at pace because they were equipped with a solution to generate documents, including invoices, without needing to wait for colleagues in the other teams.

💡Tips for successful deployments:

  • Don’t automate broken systems or documents. Adopting a new solution is a good time to implement improvements.
  • The best way to overcome sceptical or conservative colleagues is to deploy a solution that was a ‘wow factor’ – make it nice to use and demonstrate that the solution deals with a known problem.
  • Listen to feedback from users and act on feedback, quickly.

We thank Pavlin Stoyanoff and Galya Oster for beign part of Legito PowerUp 2022 and sharing their experience and useful tips for successful deployments.

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Legito PowerUp2022: Panel Discussion – Automation and Innovation for Law Firms and Corporate Legal Departments

Legito PowerUp2022: Panel Discussion – Automation and Innovation for Law Firms and Corporate Legal Departments

This panel discussion featured insights from Paul Handal (Head of Legal Tech at a large law firm), Filip Ivanov (a consultant helping organisations to implement legal tech), Teodora Bobcheva (general counsel in a corporate legal team) and Jarmila Hanzalova (head of knowledge management at a law firm).

This contribution from one of the panel members perhaps explains why some organisations often live with sub-optimal results without searching for a solution: too many people assume things cannot be made better because the common experience is that some legal procedures aways seem to take an onerous route.
It took the outside stimulus and experience of a consultant to demonstrate the effectiveness of using a solution like Legito.

Jarmila’s law firm reported a more unusual route to deploying Legito: they began with client-facing projects and then decided they should use Legito internally to augment the law firms internal processes.

 

 

Teodora commented on the benefits of deploying Legito (from her perspective within a corporate legal team):

  • Reduced cycle times to create documents (reduced to 1/5th of the previous drafting time)
  • Living without the annoyance of errors and formatting glitches in documents
  • Total control over the document content, but also the workflow and the customer journey when interacting with documents
  • Using insight from the solution to identify opportunities to make improvements to process and content
  • Using timeline data to understand where delays arise
  • Automating risk scores to assist management when making approval decisions

Paul (who also lectures on legal tech) observed that using Legito to digitise each step of a process inevitably made it easier to automate each successive step – the benefits accumulate as you move through a process.

 

The panel also discussed tips for successful deployments:

  • Be patient – don’t try to automate everything in the first stage. Be strategic about how you expand the initial project. This will promote consistency and optimise the re-use of data across the organisation.
  • Understand the logic of the content of a document, but also think about the customer’s experience of using the document. Take advantage of the tools to give customers tips and guidance to help them navigate their way through a task.
  • Use change management. A good change management project should include exec sponsorship and good communications, remembering to tell people about the benefits of the project.

 

Teodora added two poignant observations about using Legito:

  • Legito allows a corporate legal team to provide a self service tool, but it was important for the legal team to have confidence knowing that the tool would avoid risks and mistakes.
  • Using Legito “…creates a data driven culture…” which helps to move an organisation away from legacy ways of doing business.

 

 

We thank the contributors for their time and insights.

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