Managing OCGs and Client Commitments with Intapp Terms

The professional services industry faces constant novel challenges, from increasing competition to pandemic-induced market pressure. Additionally, clients continue to expect greater efficiency and transparency from their firms on top of positive outcomes — all for the best price possible. To ensure client satisfaction, firms must find better ways of addressing client expectations as well as managing client agreements and outside counsel guidelines (OCGs).

Intapp Terms gives professional services firms the tools they need to achieve these goals. During the recent webinar, “Managing OCGs and Client Commitments with Intapp Terms,” John Sharkey, Vice President and Practice Group Leader for Risk and Compliance at Intapp, explored the various ways Intapp Terms helps firms overcome their unique obstacles. Kristian Uggla, Senior Sales Engineer at Intapp, then demonstrated the versatility and ease of Intapp Terms, and showcased some of the new features recently added to the system.

One of the main benefits of Intapp Terms is the way in which it integrates data and documents. “[Intapp] Terms is the central hub of all your client commitments documents,” explained Sharkey. As Uggla demonstrated, users can easily upload both physical and digital documents directly to the system using OCR. The software also leverages AI to automatically capture and categorize billing and finance terms, risk terms, information management terms, and security requirements.

To ensure firms can take full advantage of Intapp Terms, we’ve improved features that make the software accessible to technical and nontechnical users alike. By letting users view, manage, compare, and report all in one place, firms can increase their efficiency and, ultimately, profitability.

Perhaps the most compelling value proposition of Intapp Terms is its ability to fully utilize categorized terms gathered from documents. Intapp Terms publishes all relevant client and matter terms to connected applications — including Intapp Intake, Intapp Conflicts, and Intapp Time, as well as any third-party applications within the firm’s integration landscape. This helps ensure waiver requirements and competitor clauses surface within Intapp Conflicts before the firm takes on new business; Intapp Time billing entries can be validated against a client’s billing terms to maximize realization. With this end-to-end enforcement of terms, firms will be ready to serve clients at every stage and in the best way possible.

The 2020 Intapp Risk Staffing Survey found that responsibility for client terms review spans a wide range of functional areas within firms; in fact, more than half of respondents reported that general counsel, conflicts and risk lawyers, and IT and accounting teams are all involved in the process. Uggla demonstrated a new Intapp Terms feature that includes a review workflow to send uploaded documents and related terms to appropriate team members and subject matter experts for review, negotiation, and approval. Once review is complete, the documents and terms can be enforced in Intapp Terms and other connected applications.

Uggla also demonstrated how firms can leverage notifications to ensure that key SMEs review terms and remain informed throughout the process. By implementing a connected firm management solution, firms can unify the client lifecycle from sourcing through origination and execution.

Download the full webinar, and learn more about Intapp Terms and Intapp.