Intapp Transforms Terms of Business Management for Law Firms With Intapp Open
PALO ALTO, CA--(Marketwired - April 06, 2016) - Intapp, a global leader in legal software, today announced the release of the Intapp Open terms of business management system. The terms management system helps law firms reduce risk by centralizing outside counsel guidelines, engagement letters and other client requirement documents, and making it easier for firms to access, view, analyze and take action on their most critical client commitments.
The Intapp Open terms management system is the first Intapp product that can be deployed on premises or in the cloud. It is available as a standalone system, or integrated with the Intapp Open business acceptance suite. Integration with other third-party products and tools is made possible via application programming interfaces (APIs).
Orrick, Herrington & Sutcliffe LLP, a prominent global law firm with more than 1,100 lawyers across 25 offices, is implementing the complete Intapp Open business acceptance suite, including Intapp Open for terms management.
"Law firms today are grappling with how to keep up with the growing volume and complexity of outside counsel guidelines we receive from clients. A seemingly simple question such as 'Have we agreed to similar terms with other clients?' could easily translate to hours of painstaking review," said Mike Guernon, Director of New Business and Conflicts, Orrick, Herrington & Sutcliffe LLP. "By moving to the Intapp Open terms management system, we've been able to centralize OCGs and provide deeper visibility into terms documents, making the review process more straightforward and efficient. The ability to send notifications to client teams and other key stakeholders and display relevant terms has tremendous potential to save time, reduce risk, and help the firm focus on closer collaboration with our clients."
A Structured Approach to Terms Management
The Intapp Open terms management system brings structure and visibility to previously disorganized and siloed terms management processes. With a few keystrokes, a conflicts lawyer or staff member can find details about any specific term in place with a client, or retrieve information about a specific category of commitments across the firms' clients. What used to take hours to research can now be done in minutes through the Intapp terms management system's powerful search and filtering capabilities.
The terms management system provides a structured terms database to identify, capture and categorize terms information from multiple sources. Intapp also provides 65 terms templates -- vetted by numerous law firms -- to help firms quickly and consistently categorize clauses, while prioritizing the terms most important to the firm and to individual client teams. The system also enables users to flag exceptions to standard firm policies. Notifications can be sent to key stakeholders when terms have been updated or changed, with links to relevant sections of client documents to display terms in context.
Integration with other law firm systems helps to weave client requirements and compliance into key workflows. For example, a lawyer submitting a new matter intake request can be automatically shown relevant terms of business previously agreed with the client. When running a conflicts search, competitors identified in clients' outside counsel guidelines can be automatically flagged as black book entries. When lawyers submit their time entries, the time recording system can enforce compliance with client billing guidelines.
"Law firms today are working harder than ever to win new business. At the same time, clients have become more demanding by issuing specific guidelines on everything from information security policies and who is allowed to work on their accounts, to billing and payment terms," said Laura Marino, Vice President, Product Management, Intapp. "With the new Intapp Open terms management system, firms can move toward a more proactive, strategic approach to terms management, and focus on delivering an exceptional client experience."
Intapp Open terms management system: www.intapp.com/terms WEBINAR: Intapp Open for Terms of Business Management: j.mp/terms_webinar
Intapp provides software that enables law firms and other professional services firms to thrive in an increasingly competitive marketplace by improving operational efficiency and driving client success. Intapp's three practice groups (Risk, Workflow and Time) focus on understanding existing pressures and emerging trends, and translate this knowledge into products and best practices. Intapp products allow firms to align business operations with strategy and deliver on client expectations. They are recognized as the most advanced in their respective categories -- new business intake, conflicts management, confidentiality management, process automation, data integration and time recording.
Serving more than 640 customers, including 92% of the Am Law 100 and 90% of the Global 100, Intapp has cultivated an unparalleled record of customer success and collaborative partner relationships. Headquartered in Silicon Valley, with business operations in New York, Atlanta, London, Manchester and Sydney, Intapp offers a unique combination of legal industry expertise, technical innovation, consumer-friendly design and customer-focused business philosophy. For more information, visit www.intapp.com.