Business Leader Magazine recently interviewed David Holme, CEO of Exigent Group – legal services outsourcing and contract management solutions firm on the best use of “data” to save money.
In an economic climate where budgets are always tightened, David Holme in his exclusive interview discusses ways how businesses can use data that they already have in order to improve on the bottom line by at least 3%.
“Removing data barriers between finance, procurement and legal teams, through using the correct analyzing technology can help save time, data and resources. This can then lead to a company capitalizing on the shared data.
The most important benefit in removing the barriers between various departments (procurement, legal and finance) is the bottom line. If you are able to share all your data in a timely, efficient and adequate fashion you can save time and money – the crux of any business” adds David.
Global law firms and corporate lawyers have access to an incredible amount of data and legal information but most companies just don’t have a data optimization strategy and survive in silos. Holme explains how you need data disciplines in extracting and organizing data to be able to use the vast array of inexpensive business intelligence tools available in the market at minimal cost. This is where data can be used for commercial gain.