What are corporate law departments currently looking for when it comes to legal operations management technology?
Schad: Operating a law department – especially on a global scale – presents numerous challenges. Law departments have company personnel and outside counsel working on a multitude of matters all over the world, making the management of matter information and financials a difficult task. Corporate law departments need a system to centralize matter and related financial information that provides both the law department and executive management with the information necessary to make business decisions and to meet the ever-growing demands of regulatory compliance. This effectively paves the way for more transparency and collaborative processes. Another very important factor for a global system is the ability to integrate with other local and enterprise systems. For example, why should law department personnel use one document management tool while the entire company uses another? Why receive and approve an electronic invoice from a law firm but have to print it out in order to submit it to
