CORPORATE LEGAL DEPARTMENTS: LEVERAGING TECHNOLOGY FOR SUCCESS

Corporate legal departments are essential components of businesses, responsible for managing legal matters, ensuring compliance with laws and regulations, managing risk, give legal advice, IPR protection, and corporate governance contribute to strategic decisions and have a seat on the board too.?

As a result, corporate legal departments field a multitude of service requests, even those that may not strictly qualify as legal matters. These requests often arrive via various channels, such as email, phone calls, casual encounters, and formal meetings. This diverse range of entry points makes tracking these requests complex. The traditional workflow is cumbersome, leading to increased administrative burdens, time wastage, and resource depletion. This reactive approach hinders the legal team from proactively addressing issues. Consequently, companies lack clear visibility into the origins and context of their legal expenditures.?

The dichotomy lies, where the departments are increasingly expected to achieve more with fewer resources. This trend requires them to streamline operations and maximize efficiency without compromising on quality. Such demands necessitate innovative approaches to deliver results effectively and sustainably.?

Technology significantly enables automation of repetitive tasks, streamlining workflows, and more efficient management of legal matters. It facilitates improved organization, collaboration, and analysis of legal data, enhancing decision-making and achieving cost savings.?

This grid outlines the primary challenges encountered by corporate legal departments, the specific ways technology platforms help address these challenges, and the resulting direct benefits.

Legal-tech SaaS products offer a lot of features that make daily legal operations for corporate legal departments simpler and quicker to execute. It is important to consider the above-listed factors in addition to the host of features being offered to adopt the one that suits the ongoing process and operational requirements best.?