HSBC is one of the most complex matrix organisations globally, it is many different businesses rolled into one and inherent in that is, of course, there is no one-size-fits-all solution. There are different legacy systems being used for different processes.
Over recent months, SYKE has managed the bank’s HighQ implementation, including end-to-end design and configuration of the platform and integration to other systems.
Richard warns against using legal tech in the wrong way. The tech is very powerful. But you should never automate a broken process. In his time at HSBC he’s seen just how important that is.
HighQ’s no-code, user-friendly interface and web design make it a dynamic and easy-to-deploy solution that sits comfortably alongside HSBC’s other internal systems. The clever infrastructure behind the scenes means it can generate powerful insights, with intuitive workflow and elegant UI.
Richard is a big big fan of the ‘5 whys’ way of looking at things and reducing the problem down into certain common denominators:
- Look at what potential solutions are out there that might help solve the problem
- Start small, keep adding on, fitting in with your plans
- Be prepared to change as you realise your limitations or discover new opportunities
- Be prepared to keep on reinventing or redefining the problem
- Accept there’s no magic bullets out there
HSBC’s managed legal services and how it handles third-party supply contracts are a showcase across the legal function.
Seven years into the legal tech journey, they have implemented a workflow solution, simple-to-manage overall process. They focused on third-party supply contracts, realising that there is inherently less operational legal risk in those contracts.
They have implemented a triage of high risk, middle and low. Richard believes, and that colleagues can be wowed by tiny noticeable things that you do.
His top tips include:
- Simplicity is the key
- Be prepared to fail
- Small successes build trust
- These wins help you build a stronger foundation for future success.
Tune in to find out more.