Legal Departments Admit to Being in Early Stages of Technology Maturation
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Intentional or not, the adage “do as I say, not as I do” is in practice at many organizations today when it comes to technology.
While operational efficiency is a top priority for in-house attorneys in 2015, most corporate legal departments readily admit their organizations are in the early stages of process and technology maturation. For all the progress that corporate legal has made over the last few years to reduce costs and improve performance, data shows corporate legal departments still have work to do.
Based on a recent LexisNexis survey, close to one-third (27 percent) of corporate legal departments are still reliant on manual processes. The good news is, 37 percent of legal departments surveyed said they plan to increase spending on technology over the next 12 months.
To facilitate an organizational analysis and develop a practical plan for improvement, LexisNexis CounselLink has unveiled a new legal department “maturity model,” which covers several corporate legal initiatives. These include knowledge management, communication, matter governance, budget oversight, and pricing and vendor management.
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