1. How do you store and find legal data and/or documents related to the entire company when you need it?
Do you know?
Did you know that the average in-house lawyer wastes as much as
hours per year (that 20% of your time!) searching for information that is scattered across different folders, shared
drives and paper documents. That’s time that could be better spent providing strategic counsel!
2. How do you collaborate with colleagues across the business?
Only 14% of corporate legal departments have implemented a
collaboration portal for legal intake from different departments across the company. It’s no surprise since 50% of respondants say that
coordinating with the IT department and reorganizing processes
are amongst the biggest challenges.
3. How would you describe the way you deal with daily work?
Corporate lawyers expect to use legal technology more and more in their daily work, especially to increase efficiency. While most lawyers say that today legal technology only plays a role in 20% of their day, in the next five years that will rise to
40% or more!
4. How prepared are you to manage changes related to regulations, internal decisions, and/or contractual conditions? (examples: Brexit, Libor index expiring, GDPR, etc..)
With an ever-increasing workload and over 50% of time spent on admin
tasks, many lawyers struggle to find time to provide strategic counsel. Luckily, legal technology not only helps lawyers reduce their admin burden but can also help them become an integrated
part of the business with ownership over the tools and processes used to prevent and manage legal risks.