Legal Managed Services (LMS) by EY is a set of services that can help law firms and legal departments improve their efficiency, effectiveness, and profitability. EY has global knowledge and scale: 15+ years of experience and more than 1,000 professionals across 8 global delivery centers working with more than 2,400 EY legal advisory attorneys in more than 80 jurisdictions, and provides a wide range of services (especially to legal deparatments), such as:
- Contract management: from drafting and negotiating to tracking and enforcing; Outsourced facilitation of markets documentation; M&A deal preparation; Regulatory driven contract remediation in relation to Interbank Offered Rates (IBOR) transition, General Data Protection Regulation (GDPR), Initial Margin and Brexit; and more
- Document review: Reviewing non-English language audio and video files; Extracting key data to help inform business decisions; Redacting data involving confidential and personal information; Undertaking deviation analysis and risk review
- Regulatory compliance: Facilitating statutory filings across jurisdictions; Supporting transaction-related activities (e.g., acquisitions, divestitures); Performing legal entity health checks and transformation reviews; Building and maintaining legal entity management databases; Undertaking governance model assessment and design
- Technology solutions: EY can help law firms and legal departments implement technology solutions that can improve their efficiency and effectiveness.