Iberdrola Legal Hub received the Financial Times Innovative Lawyers Award in London in the Operational Transformation (Legal Operations) category. The FT Innovative Lawyers Awards, Europe’s most prestigious innovation awards, recognise the most disruptive projects from leading law firms and in-house counsel from Europe’s largest companies.
The award-winning platform, Iberdrola Legal Hub, uses a contract lifecycle management (CLM) tool to digitize the entire third-party contract management process: from requesting a new contract, drafting it, negotiating with the counterparty, validating it, signing it, storing it, monitoring compliance and managing risks until its completion. It also enables the digitalization of legal consultations.
The Iberdrola Legal Hub has already been set up in Spain and more than 700 people from all sectors of activity and the company work collaboratively on all contracts currently under negotiation.
The implementation of CLM in sub-holding companies in the rest of the country has already started and will enable more than 5,000 people from all fields and companies to work collaboratively on all of the company’s contracts under negotiation by the end of 2024.
Legal Hub is one of the projects of the Iberdrola Legal Innovation Center created in 2022. To date, as part of digitalization, the Legal Innovation Center has digitalized all key functions of lawyers, including budget management, vendor management, e-invoicing, business management and litigation management.
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