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1/ Attention law firms, vendors, and legal depts: You need to read this Gartner article by @bobvdmeulen about emerging trends re legal spend. Here are some key quotes:
2/ “Low legal technology adoption and insufficient knowledge management capabilities left many legal departments unprepared to immediately switch to remote work.”
3/ “[W]hile many legal departments relied on trusted law firm partners ... in the early months of the pandemic, they see increasing the specialization of their teams and bringing that work in house as more cost-effective long-term solutions.”
4/ “[R]educing reliance on outside specialists helps legal departments to reduce their outside spend without having to compromise on work quality.”
5/ “In an environment where legal leaders want to reduce spending and yet carry out more complex, unpredictable legal work, legal departments that can use technology solutions and legal operations to drive greater efficiency in-house will be the winners.”
6/ The full article is available here: https://www.gartner.com/smarterwithgartner/invest-in-legal-operations-to-drive-in-house-efficiency/ Thanks to @maryshenocarro1 who first brought this article to my attention!
