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Unlocking Value: Transforming Business Processes for Greater Efficiency and Success

Explore the importance of value in today's business landscape, with insights on steering committees, legacy costs, and methods for streamlining processes. Discover ways to enhance predictability and foster true dialogue for impactful change across industries.

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Unlocking Value: Transforming Business Processes for Greater Efficiency and Success

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  1. It’s All About Value Michael Roster Steering Committee Chair ACC Value Challenge

  2. It’s All About Value • ACC member concerns • Four off-the-record regional sessions • Focus on value • Predictability • True dialog • Change needed on both sides • Chapter sessions like this one

  3. It’s All About Value • Auto manufacturers (and dealers) • Airlines (and travel agencies) • Doctors (and hospitals and insurers) • Publishers (and distributors) • Retailers (and suppliers) • Other industries (you know and/or represent) • You

  4. It’s All About Value In the past ten years, costs to U.S. companies went up 20% . . . . . . except legal costs, which went up 75%. -- Study by Corporate Executive Board

  5. It’s All About Value Change is difficult: • Legacy costs and systems • Existing methodologies • Income expectations • Culture

  6. Spaghetti Diagram: Legal Department Negotiates Master Agreement with Vendor • Business unit wants to use vendor; initiates request • Contracts Administration sends info packet with standard agreement to vendor • Vendor reviews documents and proposes changes • Contracts Administration notes changes and forwards to Legal Department • Legal Department reviews changes and proposes new language • Vendor reviews documents and proposes further changes to terms • Contracts Administration notes changes and sends to Legal, Accounting, Insurance, and / or Business Unit for review • Reviewing Departments approve • Final version is executed by vendor and by Contracts Administration • Paper copy is scanned • Original is filed • Business Unit gets scanned copy of contract • Details summarized in Contracts Database 2 4 7 9 13 8 5 10 8 11 1 8 12 Hard Copy Electronic 3 6 9 What kinds of waste are in this process? From LSSO presentation

  7. Case Study – Sample Results Time Charges Before: After: From LSSO presentation: Six Sigma Legal Services for Mortgage Loans, Richard J. Sabat, Morgan, Lewis, and Bockius LLP

  8. It’s All About Value • There are lots effective methods • Most were done years ago and are equally viable today • In other words, it hasn’t always been done this way

  9. In the end, it’s all about value. So where are you . . . really?

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