What's Happening?
Vinaya Ganesan, general counsel for Europe at First Source Solutions, is promoting a 'more for less' contracting strategy that emphasizes value creation without compromising quality. Her approach involves
streamlining contract processes by addressing inefficiencies and using contract data to focus negotiation efforts on high-impact issues. Ganesan encourages legal teams to track contract KPIs and share results internally to demonstrate their role in driving business outcomes.
Why It's Important?
Ganesan's strategy highlights the evolving role of in-house legal teams in supporting business objectives. By focusing on efficiency and value creation, legal departments can enhance their contribution to organizational success. This approach also underscores the importance of data-driven decision-making in contract management, enabling teams to identify and address bottlenecks effectively. As businesses seek to optimize resources, Ganesan's philosophy offers a model for legal teams to align with broader corporate goals and improve their strategic influence.
Beyond the Headlines
The 'more for less' strategy reflects broader trends in the legal industry, where technology and data are increasingly used to enhance efficiency and value. It challenges traditional perceptions of legal work as a cost center, positioning legal teams as strategic partners in business operations. This shift may lead to changes in how legal services are delivered and perceived, influencing career paths and professional development within the industry.
