To meet expectations, legal department leaders are turning to technology solutions to help them drive efficiency, generate insights and control costs. These factors are also drivers of legal project management, which aims to improve legal service delivery. This post explores factors that should be taken into consideration vs. critical factors they are likely to overlook during the selection process.
Investing in legal technology without a plan is a recipe for disaster. Without a definite timeframe, the implementation stage will take longer than expected or not happen at all. An implementation plan can help you roll out the software in a timely and controlled manner. We’ve outlined the 7 steps of implementation for you below:
The legal profession has often been considered to be change resistant when it comes to technology. Yet, many law firms and legal departments tend to prove us wrong and we have the results to prove they are on the right path. In support of this assertion, Wolters Kluwer Legal & Regulatory recently released the 2019 Future Ready Lawyer Survey, conducted independently with 700 legal professionals from law firms, legal departments and business services firms across Europe and the US. This unique survey demonstrated, among other major findings, that technology is already a key enabler of competitive advantage for organisations that are fostering innovative solutions today, and plan to invest even more in the future.
As your legal department deals with an ever-growing amount of data, the systems you use to manage that data also need to integrate the different systems used across the business by different stakeholders. In this post we will explore what data integration is, why it matters and give you some specific examples of how it can help your legal department deliver more value.
As businesses deal with more complexity brought on by legislative and regulatory change in increasingly multi-jurisdictional operations, legal departments must be ready on their side to deal with a rise in claims and litigation. In fact, according to the 2018 Litigation Trends Annual Survey from Norton Rose, more than 25% of businesses surveyed anticipated the volume of disputes will increase over the next year. .
Ensuring corporate governance and regulatory compliance especially when the business is growing and has operations globally, can be tedious. Not only do you need to adhere to laws, policies and regulations across different nations and jurisdictions, you must also deal with diverse corporate forms. This can make legal entity management a major challenge for legal departments, especially for those with limited resources. With the pressure to do more with less, it is upon general counsel to find innovative, low cost methods to better manage entities. Here are 4 ways legal departments can facilitate collaboration across the business, improve communication and dialogue among stakeholders, and be more effective in entity management.