News and blog posts

19
Jan

Millions of contracts

With the May 25 deadline approaching many companies have come to the point in their GDPR project where they start to realize that hundreds or even thousands of contracts need to be addressed to comply with the new regulation. The reason is that GDPR imposes new significant requirements on contracts governing transfer of data. Basically, all existing transfer agreements need to be amended and many new agreements need to be put in place. Just in the Nordic region there are millions of contracts that need to be addressed.

You can hardly approach the issue by traditional means, e g by adding more lawyers to your team or hire lawyers from law firms. The cost is just too high. Instead you need to look at other options. This may be the time to explore what digital solutions and alternative legal service providers can do for you.

“As the artisanal approach is not an option when you need to deal with thousands of contracts, we have been looking for an industrial solution combining legal competence with cutting edge technology. We found that Axiom has the technology-enabled process, capacity and the experience needed for these large projects. As a matter of fact, there is no other player in the Nordic region that can offer a similar capability.” says Ulf Lindén, COO of LegalWorks.

Axiom’s solution is a sophisticated mix of smart search technology, advanced analytics, processes and legal competence that can handle a wide range of different types of remediation actions – from easy updates to complex playbook based negotiations at a large scale.

“With the challenges that many companies will face during this year it is satisfying to have a collaboration in place with Axiom” says Leif Frykman, one the founders of LegalWorks.

If you want to know more about the contact remediation solutions that LegalWorks and Axiom can offer in the Nordics please contact Ulf Lindén,  ulf.linden@legalworks.se, or Leif Frykman, leif.frykman@legalworks.se.

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