In-House Legal Tech Solutions

Due to fast-developing automatic systems, the legal sector is quickly becoming a technological competitor within the UK economy. However, legal solutions carry a great deal of complexity in the underlying functionality. So, how can In-House teams utilise their budget and resources to power their business into the future and spur efficiency gains?

Let's dive into the direct, positive impact that legal technology has had on In-House team productivity and efficacy!??

First, In-House teams must plan thoroughly for external initiatives to be successful. They must start by adapting to software-as-a-service (SaaS) and cloud computing systems, to maximise their reliance on traditional on-premise systems.

Our Managing In-House Recruitment Consultant,?Tom Bagley ?states that,?

Legal tech is a huge part of the industry now, [for instance, the] different parts of AI and technology that In-House lawyers use. This definitely makes it easier to work remotely.

So, how do In-House teams strike the best balance between manual operation and newly introduced self-service legal options??

Legal tech started as a project within the industry to structure complex, busy processes, and has now become more about driving insight, analysis, accountability and transparency back to the business / back to management. This recent tendency to over-exhaust technological advancements within the In-House legal world is why it is so important for legal teams (in particular In-House teams), to understand best practice in terms of utilising legal tech as a way to maximise efficacy rather than to confuse business procedures.

Industry professionals seem to appreciate the idea of being able to self-serve processes such as NDAs or basic T&Cs for retail contracts, but they haven’t yet completely warmed to the idea of putting a portal in between themselves and the business. No matter the case, legal data is of the upmost importance to any organisation, and so any self-serving alternatives implemented for legal practice must be checked and double-checked, regardless of preference over manual operation.

The most obvious answer to meeting productivity demands amidst new post-pandemic pressures is definitely automation. But, how can In-House teams capitalise on the variety of legal technology investments available, in order to drive business outcomes effectively?

Gartner releases data leaning towards an increase in legal technology spends by three times the amount in the next three years! In fact, nearly 60% of legal professionals across all industries currently work in a technology-based role, up from just 34% in 2018. This means that current legal teams must implement the automation of certain legal activities, particularly those involving major corporate transactions. But, which technologies are the best bet?

Weighing up resource decisions will be a big part of moving forward within the legal industry. Firstly, In-House teams should avoid ad hoc IT purchases that are poorly aligned to achieving their business goals. Specialist legal tech vendors are continually building on legal applications using platforms such as Microsoft, Salesforce and ServiceNow. These options mainly appeal to big In-House teams wanting to leverage their existing investments and integrate technology easier. Artificial Intelligence (AI) is also up there on the current list of popular go-to's for legal firms, as well as advanced analytics and process automation!