Video | Protiviti Legal Perspectives With Managing Vice President Frank Serge | Protiviti United Kingdom

In this episode, host Chad Volkert, Global Solutions leader at Protiviti, is joined by Frank Serge, managing vice president of legal consulting at Protiviti. With over 20 years of industry experience and more than a decade at Protiviti and Robert Half, Frank brings extensive knowledge in legal technology, e-discovery and contract-lifecycle management (CLM). This discussion highlights the growing importance of CLM, the impact of generative artificial intelligence (AI) and how organisations can optimise their legal processes to improve efficiency and mitigate risk.

Navigating the Legal Landscape

Frank begins by sharing his journey in the legal space, from starting in e-discovery to becoming a thought leader in legal optimisation. Over the last five to six years, his focus has shifted toward helping clients optimise their systems for CLM. This shift reflects the rising demand for streamlined contract processes and the increasing role of technology in legal operations.

Topics

Risk Management and Regulatory Compliance Legal Artificial Intelligence

The Growing Importance of CLM

CLM is no longer just an administrative function—it plays a critical role in managing risk, driving revenue and ensuring compliance. According to Frank, more than half of the exhibitors at the recent CLOC Conference showcased some form of contract-management capabilities. This underscores the growing recognition of contracts as a strategic business function.

Frank highlights three key reasons organisations are prioritising CLM:

Risk management: Centralised contract management helps mitigate unnecessary exposure by standardising terms and ensuring compliance.
Efficiency and revenue acceleration: Automating contract processes allows organisations to close deals faster, ultimately accelerating revenue recognition.
Service delivery optimisation: Effective contract management enables better collaboration with vendors and service providers, supporting the organisation’s overall goals.

The Role of Generative AI in Contract Management

One of the most exciting developments in the legal space is the emergence of generative AI. Frank predicts that AI will revolutionise CLM by automating drafting, redlining and risk-assessment processes. However, he emphasizes that organisations must first establish centralised repositories and standardised templates to fully leverage AI capabilities.

Common Challenges in Contract Management

Many organisations struggle with contract inefficiencies due to fragmented processes and inconsistent templates. Frank outlines several common challenges, including:

Lack of centralised contract storage
Multiple contract templates resulting from mergers and acquisitions
Unclear ownership of contract-review responsibilities
Bottlenecks caused by legal departments handling business-related contract changes.

To address these issues, Protiviti advises clients to establish centralised repositories, standardise templates and create clear delineations between legal and business responsibilities.

Preparing for CLM Implementation

Before selecting a CLM platform, organisations need to lay the groundwork for successful implementation. Frank recommends starting with the following steps:

Contract data mapping: Identify where all contracts are stored and who owns them.
Playbook development: Create decision trees and escalation matrices to guide contract approvals.
Template standardisation: Consolidate contract templates to reduce variations and inconsistencies.
Defining roles and responsibilities: Establish clear guidelines for what falls under legal review versus business review.

Selecting the Right CLM Platform

With dozens of CLM providers in the market, selecting the right solution can be overwhelming. Frank advises organisations to consider three critical factors:

Budget alignment: Understand licensing, implementation and ongoing costs.
Business needs: Determine whether the platform will serve as a simple repository or provide advanced automation and AI capabilities.
Scalability: Choose a platform that can grow and evolve alongside the business.

Protiviti’s Advisory Services

Protiviti offers comprehensive advisory services to guide organisations through every stage of the CLM journey. From assessing providers to implementing large language model enablement tools, Protiviti helps clients streamline their contract processes, reduce risk and improve overall efficiency.

Conclusion

The legal landscape is undergoing a profound transformation, driven by technology and the increasing need for operational efficiency. As organisations navigate these changes, having the right strategy and technology in place is essential. With Protiviti’s expertise in legal optimisation and CLM, businesses can unlock greater value, minimise risk and position themselves for long-term success.

Tune in to this episode of Protiviti Legal Perspectives to learn more about how organisations can optimise their contract-management processes and embrace the future of legal technology.

Want to learn more? Listen to our other episodes from the Protiviti Legal Perspectives podcast to stay up to date on the latest trends and insights shaping the legal industry. For more information about Protiviti’s services, visit our website.