- Law firm spend and its impact.
- Realising the potential for law firm transformation.
- Steps to take for a win-win outcome.
Corporate legal spend has increased significantly in recent years as litigation and other risk has shot up the boardroom agenda. And control of that spend is a constant conversation topic between GCs and their C-Suite bosses, with knock-on impacts for the firms that advise them. Much has been written about the rise of innovative outsourcing and managed legal services arrangements, and of course the advent of legal super-tech, all focused on delivering more value in the legal supply for less money. It’s a brave new world of law being done differently, and with the right imagination the possibilities seem endless. But the opportunities are so much bigger than lawyers currently envisage. Done the right way and pushed to its full potential, the terms ‘outsourcing’ and ‘managed legal services’ don’t even cover it. Indeed, these descriptors become entirely inadequate.
Ambition
Lawyers need to be far more ambitious about what
