The global alternative legal services provider is in the running for three awards at the Financial Times’ first-ever ranking dedicated to companies solving commercial and legal challenges
Exigent has been shortlisted to receive three FT Intelligent Business awards alongside market leaders of the caliber of KPMG, PwC, Deloitte and other leading global companies like Shell and Deutsche Bank. Exigent is a nominee for the Managing Cost category with leading mining company Anglo American, in the Legal Data category with top brokerage company Hub International, and included in the Integrated Services list, which highlights 10 professional service firms the FT believes best represent the convergence of professional and legal services with data and technology. As part of the FT Innovative Business initiative, Exigent’s CEO, David Holme, will be joining a panel of experts who will be discussing the power of legal data at the awards ceremony in San Francisco.
Published on 15th November 2018, the new ranking, report and awards from the FT’s Innovative Lawyers series will highlight “effective ways to solve the commercial and legal challenges that affect business operations”. This new initiative looks at how companies and their service providers have turned challenges into opportunities to gain a competitive edge.
The team behind the FT Intelligent Business awards selected Exigent’s work with HUB International in the Legal Data category because it focuses on extracting value from the company’s contracts through collecting, analyzing and applying financial and commercial logic to contract data.
The key vision for Hub International’s GC – and any legal department which wants to be smart about delivering value to the company — is that contracts are now treated as an investment. Far from being just papers that the legal department drafts and puts in a drawer until something goes wrong, contracts are a collection of very useful data which, when put into a consistent format and compared to other sets of data from across legal, finance and procurement, can help a company find the balance between risk management and commercial benefit.
Exigent’s work for Anglo American, the world’s largest mining company, was selected in the Managing Cost category because it delivered financial, operational and efficiency improvements, together with a 5-year strategy to control legal spend. Exigent brought multiple legal departments together to deliver a cohesive service: it combined predictive technology with an auditing and data analysis service for performance improvement and actionable business insight. For example, by combining optimized processes with enabling technology and allocating tasks to the appropriate resources, external legal spend was reduced by 35% and contract turnaround improved 7-fold, meaning the business can do business faster.
David Holme, Exigent’s CEO, commented: “Legal and commercial results. That’s a combination we love to be associated with. It’s great to see the Financial Times and RSG Consulting moving towards what was once considered the edges of the legal industry to place alternative legal providers at the centre of a new conversation about data, results and business acumen. This conversation is one we’ve been having for a long time with our clients so we’re thankful to the FT for providing the opportunity to share it far and wide. It’s an important step towards real change in the legal industry.”
Learn more about the FT IIntelligent Business awards.
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Exigent is a global alternative legal services provider operating at the intersection of law, data, and technology. With a worldwide team of over 400 attorneys, business analysts, developers, and consultants, Exigent is transforming the way legal services are offered by applying analytical thinking, smart use of technology and inventive talent, to deliver answers that impact every aspect of business performance.
Exigent’s contract management solutions and business analytical tools help the C-suite, In-house Counsels and law firms to reduce risk, improve compliance and drive process and cost efficiencies.
International clients trust Exigent’s powerful combination of technology, consulting, and legal services in the US, Canada, UK, Australia, and South Africa. Cross-cultural and inherently borderless, Exigent has eight offices around the world, with three operating centers in Bangalore, Cape Town, and Perth. For information about Exigent visit www.exigent-group.com