Corporate Legal Divisions (CLDs) have weathered huge change and uncertainty in recent years, and more is likely to come. While this may sound like a cause for concern, it is a great opportunity for CLDs to reset and prioritize innovation.
It’s time to invest in innovative technologies that will greatly benefit your CLD and business today and in the future. In other words, CLDs should use this moment to secure their partitions for the future.
Our new e-book, Is your legal department ready for the future?See how to do this. It explores three key components of future-proofed legal management:
- Expenditure and issue management is scalable
- Advanced Technologies (Artificial Intelligence)
- Flexible legal technology roadmap
Let’s take a closer look at the ideas in this new e-book.
Expenditure and issue management is scalable
Managing and spending is a complex and time consuming task. Rising workloads and staff reductions only exacerbate the challenge.
To be adequately prepared for the future, you must invest your CLD in state-of-the-art expense and expense management solutions, which can save you time and money, now and in the future. This will help you achieve a complete view of everything, enabling data-driven decision making and a comprehensive view of costs, risks, workloads, and order status. It will also streamline your global electronic billing process, improve your reporting process, and help you better manage your external advisors.
Advanced Technologies (Artificial Intelligence)
AI can help you quickly and effectively implement billing guidelines, review invoices, provide insights into law firm performance, and free up employees to do more valuable work. Indeed, AI is such a big part of modern spending management that it can also predict and manage legal costs at a granular level – a task that is particularly urgent in the wake of ongoing economic uncertainty.
However, for AI to be effective, it must be combined with the deep domain expertise of people who understand law and data science. This combination is a competitive advantage for Wolters Kluwer. We have a team of professionals who understand the legal field and data analytics. In addition, we have Expert team to review the bill Helps customers understand and maximize their use of AI-powered solutions.
Flexible legal technology roadmap
The third principle of fortifying the future involves creating a strategy for a flexible and modern legal technology roadmap. This strategy should include components of artificial intelligence, managing things, and spending management.
Creating a strategic technology roadmap can help CLDs achieve technology maturity and maximize cost savings. A good roadmap consists of short- and long-term goals, with the former focused on goals that are easily achievable, while the latter can be modified as needs evolve.
Future proofing starts now
In addition to these three keys to becoming future-ready, our e-book includes:
- Step-by-step guidance on how to build a legal technology roadmap strategy
- How to create a framework for assessing the current maturity level of your CLD
- An in-depth look at the benefits of bringing AI into legal processes
Download the e-book And start preparing your CLD for the future.