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New Report: The Expanding Influence of Legal Operations
In collaboration with Cimplifi, I was fortunate to interview 50 legal operations professionals between Feb. 9, 2023, and March 3, 2023, to better understand how they are adapting to today's legal, business, and operations landscapes, including examining the effect of contract lifecycle management tools and the rise of analytics and artificial intelligence on their law departments.
The new report — The Expanding Influence of Legal Operations: An Inside Look at AI, CLM, and Law Department Transformation — revealed that the economy, technology, and practice preferences continue to influence a reconfiguration of the corporate legal department in a post-pandemic period. Operations leaders are, therefore, driving efficiencies, helping manage the growth of data, and harnessing the power of digital transformation to fuel business success while minimizing risk. They are also taking on greater roles and helping general counsel shape strategies that include embracing CLM, AI, and other tools to enhance the way their teams work.
Background
64% of the participants work with organizations that have more than $10 billion in 2022 annual revenue and 84% had more than $1 billion. 60% work in organizations with more than 10,000 employees, while 90% of those have more than 1,000 employees. 82% of the participants serve as the director of legal operations, or in a director-level position associated with legal operations, while 18% are managers of legal operations. 28% are with technology and telecommunications companies, 24% are in banking, insurance, or financial services, 18% are in life sciences, which includes healthcare and pharmaceuticals, 12% are in manufacturing, and the remaining individuals are in consumer products, energy and utilities, entertainment and media, higher education, and retail.
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