The use of data within corporate legal departments

In today's fast-paced business environment, data and analytics have become the cornerstone of success. However, many General Counsel are still struggling to catch up with their peers in finance, HR, and marketing who are using data to drive their decision-making.

But we are beginning to see a shift.

The increasing expectations of fellow executives and the need to make more informed decisions are forcing General Counsel to focus more significantly on data. They are starting to recognize the benefits that come with a data-driven approach to legal operations.

Based on our extensive experience of working with General Counsel, Legal COOs and corporate legal departments across the world, this report offers valuable insights into how companies and their in-house legal teams can improve their use of data.

To help companies understand where they are on their journey, we have included a legal department data maturity model that we developed based on our findings. This model will help in-house legal teams understand where they stand and how they can improve their use of data.

At Deloitte Legal and LawtechUK, we believe that the legal profession needs to embrace data and analytics to stay competitive. This report is designed to help in-house legal teams achieve this goal by providing them with the necessary tools and insights to make better data-driven decisions.

Don't miss out on this opportunity to take your legal operations to the next level. Download our benchmark report today and discover how you can use data to improve your legal operations.

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Summary of report:

1. The surge in technology adoption has created vast banks of data, and the most forward-thinking organizations are developing the skills to harness this opportunity.
2. Data can help organizations improve decision-making, whether the result is more efficient operations, better compliance, greater risk management, or anticipating client needs, and can give a competitive advantage.
3. General Counsel are beginning to realize the opportunity of using data, with many teams beginning to track work allocation, transactions, and spend, but there is still work to be done in using data to build business cases, inform resourcing and budget, track risk, and predict trends.
4. Barriers to data usage include the way in-house lawyers traditionally work, technology, and training available to legal teams, but there is an appetite for better outcomes and budgets can be made available in response to strong business cases.
5. Data-driven thinking creates value for organizations and provides an opportunity for legal departments to demonstrate and enhance their own value to the businesses they serve.