VetCor, a veterinary practices provider, is achieving its mission of rapid expansion by effectively managing a lean in-house legal team. This team is tasked with handling a rising number of acquisitions currently numbering above 100 annually. To streamline this arduous process, they’ve turned to technology and services that give them an edge with document review and drafting, helping maximize their efficiency.
“We’re responsible for handling 99% of our acquisitions in-house,” says John Prindiville, Senior Corporate Counsel for VetCor. The internal team’s workload increased significantly after VetCor merged with a competitor, leading them to invest in new technology to manage and standardize the documentation process effectively.
As Prindiville explored numerous contract management products on offer, he found the offerings to be rather generic. That was until he came across Bloomberg Law’s Contract Solutions, an AI-powered solution for storing, managing, drafting, reviewing, negotiating, and analyzing contracts. It was the opportunity for VetCor to have direct influence over the development of the solution that Estrada found most appealing.
One distinguishing feature of Contract Solutions is its integration with Microsoft Word. Prindiville regards this as a significant advantage, highlighting the convenience of accessing the company’s clause library and being able to compare clauses without leaving Word. This approach, underpinned by AI in the clause identification tool, has considerably improved document review efficiency for VetCor’s legal team.
Advances like these have freed up time for the VetCor team, enabling them to focus on more thoughtful responses to opposing counsel and boosting overall efficiency. VetCor’s experience exemplifies how legal teams worldwide can seize technology’s potential to revolutionize their approach to handling a high volume of legal paperwork, even with a lean in-house team.