Legal ops: Trends to watch as the year unfolds
The discipline of legal operations has become central to a lot of legal departments in recent years. It’s especially true in the larger ones, where without someone standing watch over how matters are handled would result in costs spiraling out of control.
The legal tech firms Mitratech gathered some of its people and counterparts elsewhere to think about what will happen this year. The field is growing and it’s expanding to law firms. Indeed “official” recognition of law firm ops was at the center of a leadership change at the Corporate Legal Operations Consortium (CLOC) recently, even as the group now has 1800 members–it counted only 40 in 2015.
And so, to the predictions:
- Legal spending will rise, says Judith Tigner of Mitratech. So tools to control it will also be more crucial to the department.
- Law firms will continue to add legal ops team leaders. Many of them will come from corporate legal departments, says Kevin Clem of HBR Consulting.
- The use of analytics will expand even more, and be more sophisticated, says Eyal Iffergan of Hyperion Global Partners.
- General counsel will be even more responsible for risk and compliance, says Steven O’Donnell of Mitratech.
- Risk management will continue to grow in cost and complexity, says Chris Kraft of Mitratech.