Publication Type
Report
Version
publishedVersion
Publication Date
10-2018
Abstract
Legal departments today face multiple daunting challenges—including rising volumes and complexity of legal work and pressure to reduce costs. To manage these challenges, more organizations are establishing legal operations teams. Understanding what legal operations does—and how—can help legal de-partments to efficiently deliver measurable business results and their counsel tobetter serve their clients.What Does Legal Operations Do? Five Strategic Activities Analysis of legal operations frameworks—as defined by the Corporate Legal Operations Consortium and the Association of Corporate Counsel—in this study indicates that the best legal operations teams excel at five strategic activities: (1) vendor, (2) risk, (3) knowledge, (4) finance/budgeting, and (5) technologymanagement.How Does Legal Operations Work? Five Enabling Levers Five levers enable legal operations teams to perform the strategic activities they’re responsible for: (1) data analytics, (2) technology, (3) strategic planning, (4) intra- and inter-functional collaboration, and (5) process standardization andoptimization.Generating Measurable Business Results Organizations that set up an effective legal operations team can reap multiple valuable benefits—including higher quality of legal work, improved resource efficiency, an improved legal risk profile, and better talent retention.Best Practices and Implications for Legal Ecosystem Players The advent of legal operations teams will exert a significant impact on different players in the legal ecosystem. Legal departments will need to determine their strategy. Best practices identified in this study can help. As the customer side is changing, firms, new providers and law schools have to adapt to exploit theseopportunities and avoid loss of business.
Keywords
Legal Tech, Legal Technology, Legal Operations, Legal Profession, Operations Research
Discipline
Legal Profession | Science and Technology Law
Research Areas
Operations Management; Strategy and Organisation; Innovation, Technology and the Law
First Page
1
Last Page
28
Publisher
Boston Consulting Group / Bucerius Law School
City or Country
Hamburg
Citation
VEITH, Christian; TOPHOF, Nora; TOBER, Tessia; WEIZMANN, Meinhard; HARTUNG, Markus; and HARTUNG, Dirk.
Legal operations: Getting more from in-house legal departments and their outside counsel. (2018). 1-28.
Available at: https://ink.library.smu.edu.sg/sol_research/4632
Creative Commons License
This work is licensed under a Creative Commons Attribution-NonCommercial-No Derivative Works 4.0 International License.
Additional URL
https://www.legaltechcenter.de/pdf/Bucerius-Legal-Ops-2018.pdf
