Manufacturing legal departments are transforming. A recent Manufacturers Alliance and PwC study found that nearly four-fifths (69%) have undertaken a technology initiative over the last three years. As part of those efforts, half report adopting tools and technologies in the last fiscal year. The result? We see departments at various points on the automation continuum and the adoption of a range of technologies from basic tools such as e-signature to more advanced applications such as matter management and predictive analytics.
The majority of legal department executives (62%) are very or moderately concerned about how major disruptions to day-to-day business demands can impact their operations. Emerging legal technology (LegalTech) can allay these concerns by enabling legal departments to adapt to operational demands, such as remote work environments, and preparing them for potential long-term changes in the way they operate. Furthermore, as the report discusses, the use of LegalTech can drive efficiency, transform legal operating models, and enhance data capabilities.
For the close to a third of departments still on the LegalTech sidelines, below we offer a way to understand what tools manufacturing legal departments are using and how those relate to the automation continuum. To uncover what has changed in the LegalTech ecosystem and what it means for legal departments, read the full report.
