The alternative services provider is looking to redefine LPO and focus on strategy and bespoke technology solutions incorporating artificial intelligence and blockchain.
Legal technology and alternative legal services provider Exigent has appointed Wayne Ramsay as Chief Strategy Officer to support the company’s renewed focus on strategy and consulting services for the C-suite. The new strategy sees Exigent upgrading the concept of Legal Process Outsourcing to include bespoke technology solutions aimed at improving business performance through legal and financial data.
With a career spanning innovation roles at Goldman Sachs, Citibank and Tony Blair’s Cabinet Office, Wayne Ramsay will focus on identifying technology providers across the whole spectrum – from start-ups to more established players – to architect solutions for the C-suite. With innovation cycles shrinking by the day, companies struggle to stay on top of a fast-paced, highly iterative industry. With Exigent’s ‘innovation lab’ approach, clients will gain access to technologists, data scientists, and R&D labs to create customised solutions for their needs. For example, instead of investing in artificial intelligence or blockchain solutions, organisations can reap the benefits of these technologies through Exigent’s consulting services.
'We’ve been providing value to global organisations beyond just legal outsourcing for over a decade. But now, with the acceleration in technology advances, we are really at a turning point. You can finally see in practice the amazing improvements you can make to your bottom line if you apply the right technology to the right issue. Companies and legal departments should be able to pick and choose what’s best for them without having to invest heavily in developing the technology themselves. It moves too fast for clients to keep up in a meaningful way,' commented David Holme, Exigent’s CEO.
'CEOs and CFOs might not immediately think of legal as the starting point for performance improvements, but over the years we have learnt that it’s the area with the most far-reaching potential in the business. Smart GCs have partnered up with us to show how data in contracts and legal documents can dramatically impact the business – and not just for risk management, but also in terms of plus signs on the bottom line,' Mr Holme continued.
'Wayne will help to drive our efforts to make our offering even more compelling, expanding our technology expertise beyond traditional contract management to include new exciting developments like Blockchain and Artificial Intelligence. With smart human resources, the right technology and legal expertise, Exigent can really help forward-looking organisations to continuously improve performance and stay compliant at the same time,' concluded Holme.
Wayne Ramsay, newly appointed CSO at Exigent, added: 'It’s not just the speed of technology advances, it’s also the breadth of areas impacted that makes staying competitive really challenging. Businesses must focus on what they do best, not on learning how to stay abreast of the latest technology. Exigent will level the playing field by giving companies access to the tools to participate in the technology revolution, leaving them free to concentrate on their core competency.'