CLOs Rank Rapid Technology Advancement as a Key Force Driving Market Change
by Scott Paster
February 12, 2016
I’d like to bring to your attention a new survey from Altman Weil. It indicates chief legal officers are taking a more strategic approach in their management of internal and external resources that support their operations. Citing cost pressures as their biggest concern, these legal leaders are taking steps to cut the fat as it relates to counsel expenditure, and also considering their technology options to save money and drive efficiencies.
Collecting responses from 258 chief legal officers, the 2015 edition of the Chief Legal Officer Survey showed that technology is an increasing area of focus for driving efficiency in the legal department. Fifty-nine percent of respondents said they had used technology more frequently within their departments over the last year. Perhaps more importantly, respondents also indicated “rapid technology advancement” was the most impactful trend in their departments.
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