Our Legal Managed Services team helps multinationals and their legal entities meet relevant and evolving regulatory compliance and reporting obligations, which vary across countries and jurisdictions. We offer an integrated and holistic approach throughout the life cycle of legal entities. AS: The fact that the staff and management of the various service lines treat the entire legal team as their trusted and reliable advisors. They do not hesitate to come to us in the first instance of a problem, even if they have made mistakes, and to open and discuss the issue with confidence and transparency – knowing full well that all their problems will be solved by the Office of the Legal Counsel. EY teams advise you on complex labour law projects in different regions and support you throughout the development of your business, helping you manage the personal legal aspects of restructurings, mergers, acquisitions and all types of business transformations. Mainak chose to specialize early in his career and talks about the qualities required to succeed in a start-up environment and the importance of legal support for start-ups in India. Managed Legal Services contract teams work with legal, procurement, and other stakeholders to define and execute a customized, technology-driven approach to contract initiatives of all sizes. These include discrete projects, common contractual requirements, and feature-wide transformation efforts. In this way, EY`s contract teams help deploy the best combination of processes, technologies and people to find the necessary balance between business enablement, cost savings, transparency and effective risk management.
EY Law`s teams advise on all legal and regulatory matters, risk management, law enforcement and compliance across multiple jurisdictions. In today`s dynamic business environment, companies are taking advantage of changing markets to grow through acquisitions. Transactions are becoming increasingly complex, so investors need access to legal advice that helps them run their business effectively. Today`s businesses face the twin challenges of rising costs and regulation. With the pressure to do more with less, legal departments are looking for new ways to modernize the legal function to deliver significant value to the business. Legal functions are increasingly telling us that they want to work more efficiently and transparently and gain insight into data, analysis and information related to legal issues. This allows them to become a more integrated and business-focused strategic partner. It can be difficult for legal departments to determine how to begin this process, what to focus on, what resources to use, and what success looks like. This is where EY can help. It was a journey, a process of gradual transformation where people began to believe that the legal department was fully integrated into the company.
Their goals and our goals are common: we also want to do business, we also support them within the legal framework. And if the goals are common, there will be a meeting of spirits – and that`s how people develop that trust. AS: The road has not been easy, as the legal department was initially seen as a cost center. Building the confidence of all staff, including the senior management team, in our ability to deliver and prevent litigation (and therefore costs) has indeed been a great journey. Today, the team is competent to solve any problem and has been well prepared to represent the Office of Legal Counsel. We work like a law firm, and any new legislation or judgment that impacts the current business or is otherwise revolutionary is discussed in the team. Knowledge is shared and each team member contributes. Our professionals understand the complex tax, regulatory and business laws of today`s economy. Through our one-stop, multidisciplinary approach, we help bridge the gap between business consultants and legal advisors, increasing efficiency and speed to market while reducing costs.
Together with EY colleagues around the world, LFC experts support customers from the analysis and design phase to implementation and maintenance. LFC is complemented by EY Legal Managed Services, provided by a multilingual, tech-savvy team of over 1,100 professionals. In addition, EY`s legal teams are licensed to practice law in more than 85 countries around the world and maintain relationships to support organizations where EY professionals do not act as lawyers. We provide you with the detailed advice you need to navigate the increasingly complex legal environment of the global economy. Robust management of legal entities plays a key role in reducing risk and executing business strategy, but many businesses fail. GC: How do you think CG and Legal can have an impact on this world of «media litigation»? What can they do in this area if the problems may be less tangible than a fine? EY`s legal services respond to current challenges and shape the future with tailored and agile strategies that span the entire legal department. From legal advice (where permitted) to operations and managed services, we provide the in-depth services the legal department needs to better facilitate business and create added value. With the recent acquisition of Thomson Reuters Pangea3 Legal Managed Services, EY continues to expand its capabilities to help corporate legal departments around the world find ways to transform their practices and deliver significant value to the business. Get legal advice and advice to better manage the risks associated with sustainability regulation. Balwani heads the legal department of The Kraft Heinz Company in India and talks about her role and what she values in a company. Legal services, under increasing pressure, are rethinking how and by whom they work. EY`s Managed Legal Services team adapts and supports data-driven technology and processes to control costs, better mitigate risk, and deliver business value.
At EY, we believe the answers lie in connectivity and creating an ecosystem built for the future. We leverage our existing cross-functional relationships and comprehensive, multidisciplinary approach to connect the right people in the right places with a technology-driven workflow and integrate the legal function into the entire business process. With multidisciplinary teams helping EY clients solve business challenges beyond the legal function, we deliver services for today as we align our strategies for the future. Companies urge all service departments to increase efficiency and performance. EY Law provides support in legal operations. License our cutting-edge legal content to strengthen your thought leadership and brand. AS: The regulatory environment around the world is changing. One cursor now interacts with another controller. It`s a digital world and the world of data.
New laws are being passed and the focus is on compliance rather than violating laws. Issues such as bankruptcy, data protection, arbitration, anti-corruption and compliance with insider trading laws will be the biggest challenge that every Indian company will face in the next three to five years. Organizations across all industries need a strong and competent in-house legal team to address these challenges. Violations will be costly and hit companies hard in this world of «media processes». Our professionals provide the world-class knowledge, experience and advice that organizations need to develop a legal function tailored to the future of their business. GC: Would the legal team be involved if there was bad press due to a violation? EY can provide your legal department with an operational model and platform for legal operations. EY Legal Function Consulting (LFC) experts help clients transform legal processes, talent models, data, technology and procurement strategies to create cost-effective and innovative business models for legal functions. LFC experts work with organizations to assess their current business models and identify improvements to ensure the right work is being done at the right time, by the right people, in the right place and at the right price. In 1997, I was promoted to head of the legal department of one of the chemical plants where DCM was expanding, in another industrial city – Gujarat.