GCs and legal ops leaders must ensure their law department directly adds business value. So, what five things set ‘run-like-a-business’ law departments apart?
For law firms, faster collections mean more revenue, sooner – and outsourcing billing operations not only accelerates cash flow but also minimises the opportunity costs of a ‘home-grown’ billing function.
The unprecedented number of highly experienced lawyers available on a flexible basis creates powerful benefits and has the potential to reshape law department staffing.
Find the Best Metrics for Your Law Department, the Easy Way
For a law department, selecting the right metrics enables better decision-making and provides the opportunity to compellingly demonstrate value to internal clients. The Legal Metrics Portal provides an easy-to-use tool that guides law department leaders through selecting the best metrics for their purposes.
Legal ops leaders identified their top priorities in 2023 as ‘controlling outside legal spend’ (78% of legal ops leaders surveyed) and ‘improving the use of technology’ (72%).
The percentage of corporate law departments with at least one full-time legal operations professional continues to climb, rising to 58% in 2023 – a 20% jump from 47% in 2018 and more than double 2015’s 21%.
