NEW YORK, June 8, 2021 — Factor, the leader in solutions for complex legal work at scale, today announces the global launch of its Legal Transaction Optimization service for law firms, providing tech-enabled transaction management, due diligence, and documentation support to deal teams. The new offering helps law firms respond to cost pressures and win more work, empowering them to focus on higher-value aspects of each transaction. Factor’s deep experience and capabilities in contracting at scale uniquely position Legal Transaction Optimization at the intersection of New Law and traditional practice.
Complex transactional practice hurtles forward at breakneck velocity, and law firms must deliver creative legal advisory and simultaneously pour massive effort into operational excellence, all within tightening cost constraints. Through this new service, Factor’s trusted delivery capabilities resolve the operational needs required by complex transactional practice, allowing lawyers to focus on their industry-leading expertise in deal structuring and strategy and high-end legal work. By transferring the transaction management work to a more tech-enabled, cost-competitive platform, law firms win more deals, boost margins, and direct their associates to premium work.
Across its years of experience, Factor has collaborated closely with law firms in areas like project finance, real estate, banking regulation, and capital markets, including most recently with Allen & Overy.
“For a number of years, law firms have been trying to introduce ways to modernize their transactional practices and bring cost efficiency and innovation to their model, often with mixed results,” said Andrew Ballheimer, who recently joined Factor’s Board of Directors after stepping down as Global Managing Partner of Allen & Overy. “Factor is well-positioned to support law firms with this transformation. Ultimately, optimizing efficiencies in transaction management allows partners and associates to focus on advising clients on the most strategic and important aspects of those transactions.”
