- 29 March 2004 12:22
Interwoven Announces WorkSite Collaboration and Document Management Solution for Corporate Legal Departments
New Functionality and Applications to Reduce Cost, Manage Risk
Sydney, Australia – 29 March 2004 – Interwoven, Inc. (Nasdaq:IWOV) the world's next-generation enterprise content management (ECM) company, today announced a new software solution designed for the specific challenges facing corporate legal departments (CLDs).
“Based on our market-leading WorkSite Server software suite (previously known as iManage), the Interwoven CLD solution addresses five key pain points facing today’s corporate legal departments: managing the matter file; managing external lawyers; board of directors’ compliance; policy publication and monitoring; and contract management,” explained Richard Collins, managing director ANZ, Interwoven. “As a clear leader in software for law firms, providing solutions for many of Australia’s leading firms such as Minter Ellison, Gilbert + Tobin, Cutler Hughes & Harris and Moray & Agnew, Interwoven is well positioned to bring the best practices of matter file management and collaboration to corporate legal departments, increasing productivity and decreasing costs at a critical time,” Collins concluded.
“Corporate legal departments are under intense pressure to reduce costs and do more with less while keeping pace with an ever-widening scope of work,” commented John Brand, vice president, technology research services for the META Group. “To comply with new government regulations, these groups are faced with implementing strict internal controls and meticulous record keeping. The explosion of content across e-mail and electronic files coupled with paper records has raised the cost of discovery in the event of litigation. An increased focus on corporate governance increases the need to document decisions made by boards of directors and the work of board committees. In addition, corporate legal departments must expend additional resources managing the work of outside law firms, while contract creation, negotiation and management remain a major bottleneck.”
The WorkSite CLD solution is available now from Interwoven’s approved resellers.
- ends - About Interwoven: Interwoven, Inc. is the world’s next-generation enterprise content management (ECM) company. Interwoven’s patented, award-winning ECM platform integrates the six pillars of content management: collaboration, e-mail management, document management, Web content management, digital asset management, and records management. Allied with the leading enterprise application providers, the Interwoven ECM platform provides complete content lifecycle management for more than 2,700 organizations worldwide including Air France, Citibank, Ford, General Electric, Pfizer, Procter & Gamble, and Yamaha. In the legal industry, Interwoven (previously iManage) is the market leader with The Global 100 of law firms, which includes premier firms such as Freshfields Bruckhaus Deringer, Holland & Knight, and Jones Day. For more information visit: www.interwoven.com.
Five Pain Points:
• Managing the matter file. The Interwoven solution provides complete functionality to help corporate legal departments manage matter files effectively and cost-efficiently. WorkSite provides an electronic equivalent to the physical file, in which all documents, e-mails, scanned paper documents, and other records can easily be filed and retrieved from any location via Microsoft Office, Outlook, and the Web. With WorkSite, powerful search capabilities facilitate discovery efforts. Additional features such as task list management support litigation management and e-mail management features make it simple to capture, file and search matter correspondence.
• Managing external lawyers. Corporate legal departments can use the WorkSite CLD solution to improve communication both internally and externally. Dedicated extranets can be created quickly and easily for each external lawyer, including shared matter files to which the outside firm posts documents. The same information can also be made available to specific internal customers such as line-of-business personnel, enabling them to collaborate and contribute in a secure manner without relying on internal legal personnel. Collectively, these workspaces and matter files provide the legal department with a dashboard view by matters and firm. Easily searchable, this complete collection of all matter files promotes cost-effective re-use by enabling lawyers to identify best practice documents and relevant past work product.
• Board of directors’ compliance. The WorkSite CLD solution simplifies key board processes and helps improve corporate governance. A dedicated board of director’s workspace provides a single, centralised location for all board materials and enables them to be delivered electronically to board members in any location without the costly and time-consuming process of manually preparing, packaging, and express mailing thick packages. Version control ensures that members access the most recent content available. Between meetings, collaborative board and committee workspaces can be used for ongoing communication without the security risks of e-mail. During meetings, WorkSite provides an electronic replacement for the minute book. By capturing a complete audit trail of all board activities, decisions and information access by individual members, the solution provides the required documentation of who said and did what, when. Ironclad security throughout ensures critical content so only appropriate members see specific content.
• Policy publication and monitoring. The Interwoven solution provides tools to help CLDs collaborate on the creation and maintenance of policy documents and manuals. Support for document routing and workflow facilitates consistent policy review and approval processes, while full audit trails track the history of all policies and provide the necessary backup for each decision made. Complete distribution is ensured through the ability to publish updated policies easily to intranets and extranets, and to track employee receipt of updated documents. Once policies are in place, the solution’s collaboration and content management functionality provides an effective tool for conducting well-documented investigations.
• Contract management. By supporting efficient collaboration on documents across internal and external parties, the Interwoven solution facilitates the rapid development and negotiation of contracts. Collaborative workspaces can be created for each contract so that all involved parties can work together on drafting and refining the document. All relevant material can be captured in the same workspace, including backup documents, price lists, etc., providing a single view into every aspect of the proposed contractual relationship. Through flexible access control, each user sees only the individual documents and workspaces they are authorised to see. Calendaring and to do list management drives the contract to closure – and access anytime from anywhere with zero delay means that global teams can work whenever, wherever. Automated workflow facilitates contract routing and ensures compliance with internal policies on contract reviews, with a complete audit trail captured each step of the way.
Media Contacts: Rob Stirling/Alex Murphy Markom Marketing +61 2 9977 8922 firstname.lastname@example.orgemail@example.com