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| Times are changing for law departments. Increasingly, companies view them as a cost centre that must demonstrate value and justify expenditures. This makes it crucial for law department leaders to have data, use metrics, and apply analysis to prove their department’s worth. |
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| Directed to ‘do more with less,’ law departments must also contend with rising firm rates. Fortunately, hard evidence shows that several simple steps can significantly reduce spending on law firms — and even provide data to leverage when negotiating outside counsel rates. |
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| Nowadays, climate change and cyberattacks rank among the most urgent concerns of many. They may seem unrelated — yet one approach can address both of them: going on a “data diet.” |
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| Are contracts the domain of a company’s law department or its procurement group? There’s no correct answer, but recently, more and more procurement organisations have been obtaining the budget to acquire contracts lifecycle management software and set up contracting centres of excellence. But why? |
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| Implementing Change With a Real Business Impact |
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| It was so good to be back at Legal Geek! I remember the first-ever Legal Geek was a bit of a shock to the legal profession because few attendees were wearing suits, ties, and black shoes! This was truly startling to the corporate legal community back in 2016. |
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| Limiting Leakage on Tech Investments |
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| Leakage — the bane of any investment in technology! Reducing it directly improves tech ROI. At last month’s Legal Geek Conference, Elevate and Reed Smith detailed how law firm-tech provider collaboration can limit leakage and boost tech-investment ROI. |
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| ELEVATE PODCAST |
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| The Evolution of Incident Response |
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| Data breach and incident response is evolving. Plan, identify a team and don’t panic. Elevate’s James Manari talks with Melissa Ventrone of Clark Hill; Adi Elliot of Canopy Software; and Elevate colleague, Megan Silverman. |
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| ELEVATE PODCAST |
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| Incremental Improvement |
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| This Next Normal leadership episode features Elevate’s Chairman and CEO, Liam Brown, talking with Reena SenGupta, CEO and creator of Financial Times Innovative Lawyers about leadership, innovation, and becoming digital. |
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Developments in data and analytics (D&A) are driving 12 distinct impacts on businesses, markets, and technology |
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The global legal tech artificial intelligence market projected to reach nearly US$38 billion by 2026 |
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The legal analytics market CAGR forecasted at 6% from 2022–2027 |
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Questions? Suggestions? What would you like to
learn more about in upcoming issues of the newsletter? |
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| Elevate, 1711 W. Greentree Drive, Suite 108, Tempe, AZ 85284, United States |
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