Iberdrola Legal Hub receives the Financial Times Innovative Lawyers Award

Iberdrola Legal Hub has received the Financial Times Innovative Lawyers Award in London in the category of Operational Transformation (Legal Operations). The FT Innovative Lawyers Awards, Europe's most prestigious awards in the field of innovation, recognise the most disruptive projects of leading law firms and in-house counsel at Europe's top companies. 

The award-winning platform, Iberdrola Legal Hub, uses a Contract Lifecycle Management (CLM) tool to digitise the entire contract management process with third parties: from the request for a new contract, its drafting, negotiation with the counterparty, validation, signature, custody, monitoring of compliance and risk management until its completion. It also allows the digitisation of legal consultations. 

Iberdrola Legal Hub has already been implemented in Spain and has more than 700 people from all business and corporate areas working collaboratively on all contracts being negotiated. 

The implementation of CLM in the rest of the country subholding companies has already begun and will allow more than 5,000 people from all areas and businesses to work collaboratively on all of the company's contracts being negotiated by the end of 2024. 

Legal Hub is one of the projects of Iberdrola's Legal Innovation Centre created in 2022. To date, within the framework of digitisation, the Legal Innovation Centre has digitised all the key functions of lawyers, including budget management, supplier management, electronic invoicing, corporate management and litigation management.