Welcome to Onit’s June industry run-down, where we share with you some of the most pertinent and timely articles on legal department operations news. We hope this roundup of legal industry trends provides some useful takeaways.
In today’s digest, we share a recap of CLOC’s annual State of the Industry Survey and its recent virtual Global Institute, words of advice for corporate legal transformation, how AI finds even more billing guidelines violations and more.
More and more corporate legal departments are turning to AI every day to handle manual tasks, boost efficiency and gain insights for informed decision-making. You’ve likely already incorporated AI into some aspect of your day-to-day practice. After all, we’ve all heard the claims about how much it transforms everyday tasks. But just how much of a difference does AI really make?
This blog post breaks down the numbers and outlines some of the most significant gains to be gained through AI in the legal sector, including:
(Source: Onit blog)
The Corporate Legal Operations Consortium (CLOC) recently released the 2021 State of the Industry Survey report, the organization’s annual review of trends to watch in the legal ops space. This year’s survey, conducted in collaboration with the Association of Corporate Counsel, garnered responses from 200 organizations (including 48 Fortune 500 companies) across more than 22 industries in 31 states and 21 countries.
The 2021 report highlights how priorities have shifted through the uncertainty of 2020, with legal ops growing, legal spend increasing and more work coming in-house. Some of the most notable survey results include:
You can read the entire survey report here.
On the final day of CLOC’s recent virtual Global Institute, one legal department operations panel took an in-depth look at why organizations need a well-defined plan for implementing new technology and preparing to handle business in a post-pandemic world.
Legal ops professionals will play a huge role in that planning and implementation. They’re pivotal in big-picture technology adoption because they’re often the most on top of innovation and the latest trends in the legal tech market. Legal ops will also be integral to making sure the rest of the legal department and the business as a whole actually adopt the new technologies they find.
(Source: Legaltech News)
Change is a constant in our world, especially in the last year and a half. While workloads continue to increase in-house, the need to work quickly and effectively remains a common goal. But how can legal operations professionals spur change – especially technological change – in corporate legal?
Corporate legal department operations experts from Mastercard, McKesson, Microsoft and GlaxoSmithKline sat down at the CLOC Global Institute to explain their best approaches, including:
Bonus: What’s driving transformation in legal? Operations expert Brad Rogers digs into the topic, breaks down what is accelerating the need for change in corporate legal. Scroll to the bottom of this blog post to hear the podcast. You can also find the Onit podcast on Apple, Google Play, Spotify or other podcast platforms.
(Source: Corporate Counsel)
Growing workloads and other priorities limit the time in-house counsel can devote to reviewing outside counsel bills spanning hundreds of pages and thousands of line items. Enterprise legal management, matter management, e-billing, billing code standards and automated billing rules reduce the burden of invoice review. However, AI offers the opportunity for even more technological innovation.
(Source: LawSites Blog)