82% of law departments expect their legal needs to increase in 2018. Top areas requiring attention include commercial contracts, regulatory compliance and international business units.
70% savings in expenditure involved in legal reviews with the use of analytics.
Focus on innovation
Relatively few general counsel (GC) focus on innovation within the legal function. Only 34% of inhouse lawyers believe their GC pushes them to innovate.
Top 4 categories of risk on which legal and compliance leaders are focused in 2018:
• Accelerating business change
• Digitalization and technology risk
• Geopolitical and regulatory volatility
• Transparency and public expectation
Centre of Excellence
32% law departments have a dedicated CoE for standardizing and centralizing contracts, allowing senior-level attorneys to focus on more strategic work.
View our full overview here.
Rutger Lambriex – Global Law Markets Leader