SYKE

Buzzing to be heading back to LegalGeek this week. Whilst having 3,000+ attendees from over 60 countries - and 140+ speakers across multiple stages - is impressive, what really sets this event apart is its unique atmosphere. This is not just another conference - it is a legal tech festival. There is a real sense of community at Legal Geek that you do not find easily at other industry events. And fittingly tonight I will be hosting a dinner with Helen Lowe, Al Griffiths, Jonathan Bisset, Chris Grant, and Mark Leicester to kickstart proceedings. Whether you are a seasoned pro or just want to find out more about the industry, the vibe is electric. And where else can you discuss AI's impact one minute and then join a beer-tasting or karaoke session the next?  I am particularly looking forward to catching up with everyone I have not seen in a year, and maybe having a lively discussion about trainers /sneakers with Jonathan Williams. I saw with interest that Mel B (aka Scary Spice) is headline speaker. I hope she is not bringing her extremely scary dog Fraizer! (If you know you know) See you there!

Here's quite a nice idea I'd like to propose: how about we just say 'No'? This comes from a frustration with a particular behavior, whether it's in a sales context, a partnership context, or any other context. Arguably, it's a particularly British characteristic whereby people will string you along endlessly in a discussion when the answer is 'No’ right from the beginning. Let's stop messing everyone around. Yes, it's a bit awkward. Yes, it's a bit difficult. But I urge everyone to be brave. We would all be a bit happier for it. Let’s embrace the fact that it's awkward. It puts everyone out of their misery so that they can move on to the next opportunity as quickly as possible. Remember, ‘No’ is a complete sentence. By being direct and saying no when we mean no, we can save time, reduce frustration, and allow everyone to move forward more efficiently. It might feel uncomfortable at first, but in the long run, it's a more respectful and professional approach to business communication. So next time you find yourself tempted to string someone along or avoid giving a direct answer, consider embracing the power of a simple, honest 'No'.

Decisions drive progress. In life or in business, hesitation can be the enemy of growth. Between founding SYKE in 2016 and our 200-strong team being acquired by Consilio LLC in 2023, I made thousands of mistakes. And each mistake taught me something. Bravery is the key to success. It's about making decisions, even when you're not 100% sure. The willingness to get things wrong and iterate quickly is how we innovate. In bigger companies, the decision-making process can slow down. You need consensus, approvals, and a lot of coordination. And that’s all part of the game when you have more stakeholders involved. But that doesn't mean you can't still move quickly. Embrace imperfection. Making a decision and being willing for it to be wrong is often better than making no decision at all. Inaction carries risk. It's more risky not to make a decision. Lack of clarity can be harmful and erode trust over time. Be courageously unpopular. Effective leaders aren't afraid to be unpopular when making tough decisions. Trust your instinct. It’s built on experience of what works and what doesn't. Quick correction trumps indecision. Being perceived as prevaricating and indecisive is worse than quickly making the wrong decision, apologizing, and changing course. Seeking perfection can hold you back. Momentum comes from action. When you decide, you move forward. There will be stumbles, but standing still is never an option. Success isn't about always being right—it's about learning fast and adjusting. That's how growth happens, even in bigger organizations.

Why don’t more providers offer digital contracting and #CLM as an outcome-based managed service? In digital contracting and contract lifecycle management, companies often have to navigate a fragmented landscape. A typical route involves selecting a CLM system from an overwhelming array of options and then engaging a separate systems integrator to implement it. This approach complicates procurement and at the same time increases the likelihood of project failure. Is there a better way? Instead of shopping for technology and finding a partner to integrate it, you could define your contracting outcomes—e.g. contract cycle times, customer satisfaction, and compliance metrics—and engage a single provider to manage everything. This provider would take responsibility for technology selection, procurement, implementation, adoption, ongoing support, and continuous development, all while being measured against predefined outcome metrics. This approach—an outcome-based managed service—has the potential to radically simplify the CLM landscape. So why isn’t it more prevalent? Large Alternative Legal Service Providers (ALSPs) and Systems Integrators (SIs) manage hundreds of millions of dollars in CLM implementations and contract-related managed services each year. These organizations have the scale, expertise, and resources to offer a full-spectrum solution. They understand the intricacies of legal operations, contract management, and technology implementation. Yet, few are taking the leap to offer a holistic, outcome-based managed service model. The problem lies in the associated complexity and risk. An outcome-based model shifts the risk from the client to the provider. It requires technical proficiency and a deep understanding of the client’s business goals and contractual objectives. Providers must align their capabilities to deliver on these outcomes consistently, which demands a level of maturity and integration that many are hesitant to embrace. Despite these challenges, the potential benefits are significant. For clients, it means fewer points of failure, reduced administrative burden, and a single accountability partner. For providers, it offers an opportunity to deepen client relationships, differentiate from the competition, and create a more sustainable revenue model. As the market for digital contracting and CLM continues to grow, it’s time for more providers to consider the shift. By embracing an outcome-based managed service approach, they can turn a complex, high-risk process into a seamless, value-driven experience for their clients. Are we ready to rethink the way we approach CLM?

🌊What's driving the consolidation wave? Recent months have seen a flurry of activity in the #CLM space. For example: 1️⃣ Docusign acquired Lexion 2️⃣ Icertis partnered with Evisort 3️⃣ Sirion bought Eigen Technologies 4️⃣ Workday is set to acquire Evisort 🔍 What's behind this trend? 🤖 #AI Arms Race: CLM providers are racing to enhance AI capabilities, revolutionizing document intelligence. 💰 Financial Pressures: High borrowing costs are making it tough for scale-ups to grow independently. Joining forces becomes a necessity. 🏗️ Scaling Challenges: AI-focused companies find it difficult to scale, leading to partnerships that provide access to vast client bases and resources. 🧩 Comprehensive Solutions: These deals often bring together companies with complementary strengths, creating AI-powered solutions that extend beyond traditional CLM. 📊 Data Aggregation: Mergers aren't just about technology - they're about combining diverse document sets to create more robust AI models and deeper business insights. 🌐 Market Consolidation: As the CLM space matures, we're likely seeing the beginnings of a broader consolidation, with a few key players emerging as dominant forces. 🔮 Future-Proofing: These acquisitions might be pre-emptive moves to secure cutting-edge technologies and talent in the face of rapid AI advancements. 💭 But could we be missing something? Are we witnessing the birth of AI-driven "super platforms" in enterprise software? Is it purely about AI capabilities, or are financial pressures the main driver? Could it be about data aggregation and insights? Or is there something else at play? 🤔 What do YOU think is really driving this consolidation wave?