How eBrevia helped Best World Group expedite their contract review process and lower legal risk
Client: Best World International Limited
Company HQ: Singapore
No. Of Employees: 200
Industry: Beauty, Health, Wellness
Contracts reviewed using eBrevia: NDAs, manufacturing agreements, IT agreements
Company website: https://www.bestworld.com.sg/
Enhancing the Contract Review Process and Management Visibility
Best World International Limited is a company listed on the Singapore Exchange (SGX:CGN). The company specializes in the development and distribution of premium skin care, personal care, beauty, health, and wellness brands.
With over 10 regional offices spanning Asia-Pacific, Middle East and Europe, the group turns to technology to achieve a better contract review process and management visibility.
Questions & Answers
With: Cynthia Liu
General Counsel Best World Group
A Chat with Cynthia Liu, General Counsel of Best World Group
In an interview with Cynthia Liu, General Counsel of the Best World Group, Cynthia shares her views on how technology can help in-house legal teams in their daily work. Cynthia believes that legal technology can assist in-house legal teams with repetitive basic tasks, freeing up the legal team to do higher value work.
The interview was conducted by Stephanie Siu, Director of Strategic Development and Legal Counsel, APAC at eBrevia in January 2023.
I am the group general counsel of Best World, and I lead the in-house legal function of the entire group which comprises of me and a legal executive. Best World has over 10 regional offices. On a day-to-day basis, I have to review the company’s contracts from all of these regional offices across various departments, as well as monitor the legal issues around the world that relates or affects the company.
In an ideal world, I’d like a quicker contract review and management process, and better visibility over contracts across regional offices and business teams. These are of particular importance as we have regional offices scattered around the world, and contracts from different departments and business teams like the product development team, factory manufacturing team, IT department, etc.
I think from where I sit, technology like eBrevia is useful in that it can allow me to access and have visibility over all the contracts from our regional offices around the world in one centralized place – this is helpful in managing our legal risks. It is also helpful in streamlining our contract review process.
For example, the process of reviewing bread-and-butter contracts like NDAs, manufacturing contracts, IT agreements, etc. can be expedited. The thing with these contracts is that they can be quite repetitive in content, but can come in different form and drafting styles, leading to a lengthy review process. With a tool like eBrevia, we can use artificial intelligence to quickly identify, review and compare a consistent set of key terms in which we are concerned with.
I think legal technology is useful in the sense that it can help in-house legal teams do the basic repetitive or administrative tasks, for example, doing a basic quick check on agreements, or quickly compare documents. It’s not here to replace lawyers, but with it, in-house legal teams can save that freed up manpower and time to do higher value work.