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OKR template to achieve efficiency in contract reviews and legal cost reduction

public-lib · Published 3 months ago

Your OKR template

The given OKR aims to elevate efficiency in contract reviews and reduce legal costs. It plans to achieve this by implementing automated legal technology tools that help with contract reviews. The implementation process includes selecting and procuring a relevant automated contract review software, training the team to use the chosen tech tools, and researching multiple automated legal tech tools in the market.

The next goal area is to negotiate or reassess fees with legal service providers to achieve a 15% cost reduction. This endeavor requires initiating negotiation meetings with each provider, researching market rates for comparison during negotiations, and identifying current legal service providers while reviewing contract specifications.

Another significant objective is to reduce the average contract review time by 50%. Efficient contract reviewing techniques will be taught to staff, automation tools will be adopted to quicken the contract review process, and the contract review workflow will be restructured for a more streamlined approach.

The overall aim is a more cost-effective legal process and more streamlined contract reviews, leading to substantial time and financial savings. Respectively, the application of technology here streamlines procedures and enables more competitive dealing with service providers.
  • ObjectiveObjectiveAchieve efficiency in contract reviews and legal cost reduction
  • Key ResultKRImplement automated legal tech tools to assist with contract reviews
  • TaskSelect and purchase a suitable automated contract review software
  • TaskTrain the team to use the selected tech tools effectively
  • TaskResearch various automated legal tech tools available in the market
  • Key ResultKRNegotiate or reassess fees with legal service providers for 15% cost reduction
  • TaskInitiate negotiation meetings with each provider
  • TaskResearch market rates for comparison in negotiations
  • TaskIdentify current legal service providers and review contract details
  • Key ResultKRDecrease average contract review time by 50%
  • TaskTrain staff on efficient contract reviewing techniques
  • TaskImplement automation tools to expedite contract review process
  • TaskStreamline the contract review workflow
Use in Tability

How to edit and track OKRs with Tability

You'll probably want to edit the examples in this post, and Tability is the perfect tool for it.

Tability is an AI-powered platform that helps teams set better goals, monitor execution, and get help to achieve their objectives faster.

With Tability you can:

  • Use AI to draft a complete set of OKRs in seconds
  • Connect your OKRs and team goals to your project
  • Automate reporting with integrations and built-in dashboard

Instead of having to copy the content of the OKR examples in a doc or spreadsheet, you can use Tability’s magic importer to start using any of the examples in this page.

The import process can be done in seconds, allowing you to edit OKRs directly in a platform that knows how to manage and track goals.

Step 1. Sign up for a free Tability account

Go tohttps://tability.app/signup and create your account (it's free!)

Step 2. Create a plan

Follow the steps after your onboarding to create your first plan, you should get to a page that looks like the picture below.

Tability Import Options

Step 3. Use the magic importer

Click on Use magic import to open up the Magic Import modal.

Now, go back to the OKR examples, and click on Copy on the example that you’d like to use.

Copy from the template

Paste the content in the text import section. Don’t worry about the formatting, Tability’s AI will be able to parse it!

Importing from text

Now, just click on Import from text and let the magic happen.

Tability editor with imported content

Once your example is in the plan editor, you will be able to:

  • Edit the objectives, key results, and tasks
  • Click on the target 0 → 100% to set better target
  • Use the tips and the AI to refine your goals

Step 4. Publish your plan

Once you’re done editing, you can publish your plan to switch to the goal-tracking mode.

Publish import

From there you will have access to all the features that will help you and your team save hours with OKR reporting.

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