It looks like the regulatory environment isn’t slowing down in 2023, by contrast it even shifts up a gear. Legal professionals need to find ways to absorb and adapt to the changing regulatory requirements. A strong, integrated Governance, Risk and Compliance (GRC) program is a must to provide a 360° view of risk and compliance requirements across the organization. One of the cornerstones of GRC is Legal Entity Management.
Legal Entity Management includes the practice of managing a company’s vital information and documents in an orderly system and on the other hand the process of creating and managing owners in your company. Without immediate, easy access to legal entity & equity information, organizations could be at risk. To keep entities in compliance and streamline the equity-related activities, legal departments count on smart and easy to use software solutions.
Here are 3 reasons why implementing a Legal Entity Management software is worth the money:
1. Ensure the secure access to the right information, by the right people, at the right time.
Software, powered by AI, supports the governance of the organization by offering a clear 360° view on all corporate documents, planned boards (and other meetings) and authorities of directors and managers. Endlessly searching for documents like Articles of Association, Board documents & Minutes, Shareholder Agreements, Policies and Certificates, Licenses and Permits, wastes valuable time and money you’ll never get back.
2. Get a stronger grip on your Corporate Housekeeping.
It’s not easy to stay on top all the time of compliance and regulations in different jurisdictions, and have a clear communication with all corporate stakeholders, such as Board members. The right Legal Entity and Equity management software solution will capture all crucial knowledge for smart re-use.
3. Stay on top of all important compliance deadlines.
Missing the correct corporate information can set you back big-time during audits and due diligence and can damage your reputation. Thanks to receiving personalized notifications in your domain of expertise, you will always be alerted on required actions and important meetings.
Within the Knowliah ELM – Enterprise Legal Management – platform for Corporate Legal Departments, the Extended Legal Entity Management 2023 is a new and extended module replacing the previous version. Our improved Legal Entity Management module has a few enhancements and extra features like integrated document generator for agenda’s, meeting minutes, etc., improved data history, extra reports, and many more.
Did you know that the Knowliah modular ELM platform also contains Legal Matter Management, Contract Lifecycle Management and Third Party Risk & Compliance Management? It’s the most comprehensive software solution for all legal professionals!
See Knowliah in action
Testing Knowliah is like having done everything on foot all of your life and then getting the keys to a fast car. You’ll wonder why you haven’t implemented it sooner, because you’ll see right away how crucial Knowliah can be for your organisation.