Legal Management Consulting
Advisory for technical innovation and process insights.Legal Management Consulting
In the current environment, organizations face increasing legal and regulatory complexity, high-stakes disputes, limited resources and decreasing budgets. Accordingly, legal teams have invested (or are investing) in a variety of digital solutions and other technologies – but they often use these technologies in isolation and struggle to maximize their value.
In the age of limited staff bandwidth, optimizing technology may seem an unaffordable luxury. But the evolution of technology and related law department protocol is rapidly expanding the options available to cope with competing priorities. Legal professionals must start taking steps toward evaluating those options, or they risk falling behind their competitors. Every corporate legal manager should be thinking today about the following three aspects of technology that will impact performance in the near future:
Integrating Matter Management and e-Billing Globally
Over the past decade, the US legal industry has shifted toward electronic matter management and e-billing. This shift involves the use of digital data and electronic tracking of legal fees and expenses. The next trend will be the roll-out of this technology on an international basis for global organizations. This is a challenge because of the different laws, rules and language issues in different territories; taxation and privacy issues, in particular, pose a range of challenges and opportunities. Following territory-specific protocols for gathering information can be very complex, but tracking all of an organizations' data via one system can deliver worthwhile benefits.
For some organizations, preparing for an integrated international system may be a long-term process. Regardless, there are preparatory actions every corporate legal department manager should take now to brace for the inevitable shift to the global integration of matter management and e-billing:
Leveraging technology-related data to increase efficiencies
Legal departments have been quietly gathering data since implementing technology solutions years ago. Now, it’s more important than ever to begin using this valuable data as the key strategic asset it is. The data that has been gathered holds an enormous amount of knowledge and insight into trends, efficiencies and expenses associated with the work your department has been performing over the years. Proper use of this data can help you with the important task of demonstrating the value of the legal services you are providing to the corporation by:
To leverage the technology and realize these benefits, legal managers should currently be taking the following measures:
Leveraging currently owned technologies to benefit non-traditional functions and expanding on your legal technology investment
Currently owned technologies can also be leveraged to benefit nontraditional functions, such as: