Extract from an article by Sam Skolnik
Corporate legal departments are streamlining their work by embracing technology, but need to do more before the function is “truly transformed,” a new study has found.
These departments need to invest more in legal tech to guarantee that transformation fully takes place, according to the study from Deloitte and Oxford Economics, released Nov. 30.
Some 300 law department executives from nine countries around the world weighed in for the study.
It recognized that while investments in legal tech are needed to streamline operations, legal departments are facing increased pressure from their companies’ C-suites to do more with the same or fewer resources.
Only just over one in two respondents, 56 percent, said they believed their companies were spending enough on legal IT.
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