Top 5 technology gaps in law departments
A new Thomson Reuters survey of law department leaders, attorneys and staff has identified the top 5 critical tasks that are most often not being managed with automated solutions. The survey found that while law departments are frequently using technology to help manage certain critical tasks – such as legal research and matter management, many other critical tasks are currently lacking automated solutions.
The top 5 critical tasks that have the least use of automated solutions:
– Legal holds (20%)
– Complex transactions (21%)
– Compliance (22%)
– Entity management (28%)
– Contract management (40%)
In addition, survey respondents pointed to a need for integrating solutions to provide a comprehensive view of the department’s activities. While deploying point solutions can help address individual needs, survey respondents expressed a strong need for an integrated Enterprise Legal Management approach that could eliminate problems such as duplicate data entry, multiple storage locations, missed collaboration opportunities, and lack of leadership visibility into their entire legal landscape.
