Winner first Loyens & Loeff Innovation Challenge announced
The Client Contract Management Tool has been announced as the winner of the first ever Loyens & Loeff Innovation Challenge. Selected by a jury of external and internal innovation experts, the winning innovation will be launched before the end of this year, changing our way of working firmwide. The six finalist teams were chosen from an impressive 42 entries submitted by 188 colleagues firmwide. They were given the opportunity to further develop their ideas and convince the jury with compelling pitches, culminating in a virtual Grand Finale last week.
Client Contract Management Tool
The winning team of Belgian, Swiss and Dutch colleagues, proposed a Client Contract Management Tool (CCMT) to avoid and overcome risks around the documentation and monitoring of contract performance. The team explains: “We want to build an effective and proactive communication tool, informing our clients of the follow-up process and facilitating the job of the lawyer as the ‘contract manager’. The tool pushes automatic reminders and notifications regarding milestones to the lawyer and the client, which will improve the client-lawyer relationship and ensure smooth execution of the contract or project. We are thrilled that our solution will be rolled out firmwide!”
One of Loyens & Loeff’s core values is working together to make a significant difference for each client. We do this by offering our clients smart, effective and practical solutions. The Innovation Challenge asked colleagues to form teams across offices and practice groups, and identify a problem or challenge that affects clients, or the way of working within our firm. The teams then had to design a solution that would solve this through innovation and, among other criteria, be a strategic fit that was viable and necessary.
In line with the innovation vision of Loyens & Loeff
The winning solution is fully in line with the mission and innovation vision of the firm, according to Julien Cayet, Technology & Innovation Director at Loyens & Loeff. He states: “We were very impressed by all the teams, but in particular team CCMT. The problem that the team raised is extremely relevant for the firm in that it shows how and when to get in touch with clients in between deals. Their CCMT solution is also both elegant and pragmatic. We can clearly see how we could create a minimally viable product by the end of the year and start having an impact early next year.”
The team will develop and launch the CCMT before the end of 2021. Their progress will be shared throughout the process, so that colleagues, clients, and other stakeholders can follow their journey. Cayet and the Technology & Innovation department will also be helping the other five finalist teams to explore how their solutions might be brought to life in the near future.