In fact, structures that give the general counsel and head of legal operations the scope to define all aspects of the target operating model and the power to enforce their decisions company-wide stand to realize cost savings from nine to 16 percent, depending on the industry.
Lawyers in one country or business unit may not be fully aware of what approaches and positions are being taken in other countries or units, and this can bring significant inefficiency and risk.īut when these silos are removed - when legal functions are set up so that the general counsel leads the department globally, with influence over decisions on matters like human resources, technology investments and process improvements across the company - efficiency follows. Traditionally, the legal functions of international companies are often set up to mirror the company’s geographic or functional business structure.
Ongoing market analysis reveals strategic measures that can pay off in boosting legal departments’ efficiency and effectiveness across six key dimensions: Like other functions, successful legal teams will likely be those that demonstrate how they are improving their efficiency and creating value.Īs they transform their legal services operating models, legal teams can draw on a growing body of leading practices.
The legal function is no longer considered a black box that is exempt from performance management concerns. With COVID-19 having caused even more disruption, the pressure to transform legal operating models is reaching new heights.Īs Heads of Legal are called on to do more with less at a time of rising regulatory and financial risk, they must also manage rising internal scrutiny from boards and senior management over how they are governed and operated. Amid increasing regulation, scrutiny and pressures on costs, today’s legal teams are facing new demands to deliver legal services more efficiently and drive more value.
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