The most measurable measure of success for any transformation is the revenue generated. The sooner agreements are approved and signed, the sooner your company can recognize their value, so make sure you know where your biggest problems lie (and therefore opportunities for improvement). The pressure to transform legal business models is reaching new heights. The overall survey results suggest that lawyers continue to struggle to effectively outsource projects to teams with the right skills. Manual processes and technological gaps too often result in high-paid professionals having to perform low-value tasks, with 70% of respondents saying lawyers take on too much administrative work. The first step in law transformation is to align the legal function with the company`s mission, purpose and culture, and to instill a client-centric, team-oriented mindset. It is not a simple or quick process, but it is a necessary process. Legal can only achieve alignment if they: speak the language of the company and understand its goals and risk profile, work proactively and at the speed of the business, work as a team (internally and company-wide), develop skills, and take a client-centric, results-oriented approach in everything they do. The legal department must take a multidisciplinary approach focused on data, technology and problem solving, value creation and customer focus of the business. As lawyers strive to become strategic business partners, what topics are at the forefront as they begin or progress on their modernization journey? There is a general consensus that technology can make a big difference in how legal functions work. In some markets, the legal department has been working with technology for some time and is in the second or third wave of tooling solutions. In others, the legal department looks at how the technology could be used and which of the many products available on the market are best suited to their needs.

Your business uses technology to maximize its efforts. But your legal team still works with basic tools like word processors and email. You know that this inefficiency hurts your team and your organization. We can help you select, implement and use the right legal technology that works with your people and processes. To qualify for a full transformation, a firm`s business legal model should be revised to focus legal functions more narrowly on tasks that require specialized legal skills and to discard tasks that can be performed better and more efficiently by other functions. Key legal processes should be explored to understand inefficiencies and manual activities that could be modified by workflow automation (e.g., requests for common documents, creation of routine records, automated emails). For Trifecta, technology ecosystems should be expanded with new tools integrated into platforms that solve multiple problems. For example, integrating customer lifecycle management (CRM) and contract lifecycle management (CLM) tools into a common platform with a workflow that covers early customer contacts through contract execution, reviews and renewals. Compare this fundamental questioning of what does it legally, who does it, how they do it, and with what tools, undeniably cumbersome, with easier outsourcing of a single function. The latter probably doesn`t really move the needle in terms of long-term profitability and responsiveness of the legal function to business change and digitalization, while the former gives the legal department a chance to fight another day! In addition, pain points that were previously only anecdotal are supported by data. Armed with objective criteria and measures, legal functions can advocate for investments in areas such as talent or technology to address these weaknesses.

Complete end-to-end digital transformation of legal services is typically quite rare, as lawyers tend to be overwhelmed, reluctant to change, and less technologically savvy. As a result, legal departments typically don`t fully optimize the way they work and interact with the business. Although there has never been a better time to fundamentally and completely transform legal services. The new pandemic and post-pandemic standard of hybrid work and more agile business practices presents a unique opportunity, led by the rise of companies adopting new collaboration tools such as Microsoft Teams, Zoom, Slack, etc.