The future of legal is all about diving deeper into the dynamics affecting organizations and the potential for in-house counsels to grow and rethink their roles and duties for success.
Business Performance & Security
As geopolitical changes in the economy force firms to change their operations, legal departments can only ensure their success through technology and automated solutions. Therefore, legal departments must not only understand and adapt to changing structures, but also change their own models to focus more on higher-value work and opportunities to provide value to the business.
Digitization and Change
Global economy is becoming more digital, and enterprises are responding and digitizing themselves. There’s more data than ever, yet few companies are using it fully. Today’s in-house legal teams are in a unique position to respond to digitization in their departments and companies. They must deliver faster, more accurate services and leverage their businesses’ data. The legal leader who adopts technology to boost the legal function’s efficiency and accuracy will free attorneys to contribute more actively to the business’s strategic goals.
Geopolitical and international developments impact the legal function, resulting in increased unpredictability and complexity, but not less necessity for compliance. Due to uncertainty, organizations are examining their own models, supplier networks, and regional or global business functions, leading to a greater demand for qualitative legal input into business choices. In this scenario, the modern legal function has a new potential to help businesses by establishing a comprehensive view of the landscape and integrating legal capabilities across borders.