Legal technology can help in-house counsel centralize fragmented data, increasing efficiency and productivity, write Lindy Muto and Sam Kidd
Corporate counsel are currently between a rock and a hard place. In the current legal landscape, workload and risk profiling are increasing exponentially for in-house legal teams. Corporate counsel want a change. They cannot continue to be constrained by time, while constantly putting out fires created by other business divisions. Legal teams need technology tools to improve efficiency and gain insights for making better resource allocation.
It is 2019 and yet, technology for most in-house legal teams still equates to emails and spreadsheets. Legal teams are facing increasing pressure to demonstrate the value of their work, however, they are not equipped to show it. Discussions regarding value and workload of legal teams are often anecdotal because in-house legal teams have ad-hoc and inconsistent processes, communication barriers between themselves and the business divisions because of an “us” and “them” mentality, and the lack of a centralized system to record and share their work.
With all the information sitting in emails and spreadsheets, corporate counsel are unable to operate their teams effectively because they do not have data on how their teams are working. Especially because the information is usually scattered among team members’ files and emails. This antiquated method leaves the corporate counsel with no way to quantify the type of work they do, its value and cost, and who is doing it.
Therefore, corporate counsel need to encourage their teams to move away from the chaotic recording system and leverage technologies available in the market to bring their teams into the digital environment, which saves time and reduces mundane tasks that hinder operational efficiency. While this is the time to do it, the legal sector is in a flux with multiple legal technology providers offering various solutions to legal teams.
Lindy Muto is the legal operations consultant of LawVu in Melbourne, Australia and Sam Kidd is the CEO of LawVu in Tauranga, New Zealand.
Lindy consults to in-house legal teams and legal technology providers. She can be contacted at [email protected]. LawVu is a modern software platform that is revolutionizing the way corporate legal teams manage legal and engage with their internal stakeholders. The LawVu platform includes features such as matter management, contract management, spend management and knowledge management. Learn more at www.lawvu.com.