Why is the arrangement with CPA [Rio's LPO partner] so significant? Primarily because it is evidence of a profound change in the legal world. In-house lawyers are under great pressure to reduce their head count and to spend less on external law firms, but, at the same time, their workload is increasing.Clients, in short, need their advisers to provide more-for-less.
June 19, 2009
June 18, 2009
June 12, 2009
June 09, 2009
- Adams Drafting assesses all manner of contract language and advises on best practices for clear and concise usage.
- Typography for Lawyers focuses, not on the words per-se, but on their visual presentation. This site explains how poor text layout impedes readability and comprehension and tips for better typography.
June 05, 2009
And that doesn't mean hiring more people. It means automating processes to capture quality data up-front and remove bottlenecks to downstream fulfillment. The real issue is how to do that properly. Tactical solutions focussed on an individual function or channel cause as many problems as they solve, while strategic solutions are out-of-date before they're implemented.
The key is to start with a quick win. Rapid deployment to handle a targeted problem. Then, after solving that problem (and celebrating the "win"), iterate.
The right tool for the job
But to do this effectively you need the right platform. From the start, the system needs to be:
It's all about the user
It's the last requirement - usability - that is most often overlooked. And, it's the most important. If a system is not designed for business users - as opposed to by IT - it will fail. For a system to be owned by business users, it needs to be easy to use so the business can maintain it without needing to continually go back to IT.
By automating their document intensive processes with document assembly software, Exari's clients have been able to cut cycle times and costs by 70%. Think about how much more productive you could be. You'd be amazed how much you can achieve when the business "owns" the solution to its problems. Contact us to learn the ROI for your project.
June 04, 2009
Though they may not realize it yet, the mortgage sector market share of ANZ, CBA, NAB and Westpac (at over 82%) is starting to cause them problems.
All four banks have been reported as taking up to a month to process mortgage applications. So far it hasn't mattered, as borrowers haven't had any viable alternative funding options.
But it looks like that's changing. Mortgage Choice for one is encouraging its brokers to steer clear of the major banks. CEO Michael Russell has said that they are going to be running workshops focussed on lenders with "clean pipes who are best equipped to handle an increase in volumes."
Broker sour grapes because of lower commissions? Maybe. But all bankers would agree that application turnaround times are of key importance to borrowers and brokers, and hence to a bank's ability to take customers out of the market.
So what should the major banks do? (Find out in an upcoming post.)