Pain Point Radar

When NewLaw is discussed with General Counsels, a number of obstacles or ‘pain points’ are often identified. These pain points need to be addressed in order for a corporate legal department to become more efficient and future-proof. However, such pain points are often rather like an iceberg, in that only the very top is visible. In order to help avoid a collision with this iceberg, we have developed our ‘Pain Point Radar’, which identifies the most important areas of improvement for corporate legal departments:

1. How do you control your spend?
   1. Do you even know what it is, or how to work it out?
   2. Do you have mechanisms in place to track it?
   3. Do you have an e-billing system?
2. How much visibility/predictability do you have?
   1. Is the spend transparent, and likewise the fees charged by external legal service providers?
   2. What about changes to the scope and budget?
   3. What fee arrangements do you have in place?
3. How many external providers of legal services are you currently working with?
   1. Do you have a panel in place?
   2. What are the selection criteria?
   3. Have you identified your preferred suppliers?
4. How many processes are manual?
   1. How much time does your legal team spend on administrative or low-value, repetitive­­ work?
   2. Are their skills and expertise being used to the best possible advantage?
5. How do you manage documents and projects?
   1. Do multiple applications cause confusion?
   2. Does key information get lost?
   3. Does your team communicate effectively with internal clients and external stakeholders?
6. How much data do you have?
   1. Is the data accurate?
   2. How do you collect and analyse the data?
   3. Do you have access to information that provides insights into past behaviours and can positively influence future decision-making?
7. What kind of technology do you think you need?
   1. Do you have any preferred solutions in mind?
   2. What will help your team work more efficiently and produce high-value work that benefits your entire organisation?
8. What cultural shift is involved?
   1. How would the team and potentially the business (clients) around you need to change?
   2. What would be crucial for success?

Transforming your corporate legal department is not easy – but it is essential. For more information, please feel free to visit our website or contact one of our team members.

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