Intapp Open terms management system helps law firms reduce risk by centralising outside counsel guidelines, engagement letters and other client requirement documents, making it easier for firms to access, view, analyse and take action on their most critical client commitments.
The new product can be deployed on premises or in the cloud and 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).
San Francisco-founded international law firm Orrick, Herrington & Sutcliffe, which has more than 1,100 lawyers across 25 offices, is implementing the complete Intapp Open business acceptance suite, including a cloud-based 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 at Orrick. “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,” he said.
Intapp’s acquisition of Rekoop was fundamentally an investment in the cloud and as the deal was announced, Intapp’s chief operating officer Don Coleman told Legal IT Insider: “We want to make sure that we are both in the cloud and offering choice for customers not ready for the cloud. Firms are at different stages in their adoption cycle and we want to provide a best-in-class solution whatever stage they’re at.
“In the very long term we believe most software will be delivered via the cloud but in the mid-term many firms will prefer on premises solutions for security and control reasons. We will continue to innovate in our on-premises solution but will also have a solution for firms ready to take that step.”