According to Deloitte Legal Operations Survey: Covid-19 Pandemic Will Drive Digital Transformation in Legal Operations
While 86% of in-house counsel surveyed said they see opportunity to modernize legal services provided to their stakeholders, Deloitte “2020 Legal Operations Survey” found that challenges remain. Respondents described their corporate legal departments’ maturity level for technology as just “foundational.”
Read More: Metadata.Io Named Leader In G2 Account-Based Advertising Software For Summer 2020 Report
Ashley Smith, Deloitte Risk & Financial Advisory managing director, Deloitte Transactions and Business Analytics LLP said, “Organizations everywhere have undergone massive change as a result of the COVID-19 pandemic and related economic uncertainties. As business strategies shift and the corporate legal department is called on to do more to help organizations navigate through disruption, focusing on legal operations transformation could help in-house counsel and their teams to evolve beyond heavy manual, tactical work – into leveraging technology to offer more strategic insights and value.”
Corporate legal departments face a number of challenges in legal transformation. Many survey respondents (71%) report that their teams spend a significant amount of time on manual tasks. In addition, the majority of respondents (74%) felt they do not have clear and accurate metrics on the work being completed by internal and external resources, and very few respondents (13%) have a process to validate that work and resource levels are properly aligned. From a process perspective, 71% of respondents do not have dedicated project management software for corporate legal department use.
Read More: Showpad Announces TRANSFORM 2020, Virtual Conference For Elevating Enablement
Smith added, “Unfortunately, there’s no ‘easy button’ to corporate legal department modernization. Many legal professionals want to modernize and their organizations often have good systems already within the enterprise to help them achieve it. The challenge lies in the clean-up work needed to get the right data into those systems and to get disparate systems working well together. That step into change management doesn’t seem to be one most legal departments have the appetite or bandwidth to take on presently. But, as demands on the corporate legal department seem only to increase, it’s a goal worth setting as the pandemic continues.”
Read More: AdLedger Announces CryptoRTB Protocol For Digital Advertising
