Is your business considering digitalization for legal? Here are 5 of the most important to know.

The trend in digitalization in legal departments is one of rapid growth. Companies are increasingly adopting legal technology solutions to automate management of their legal matters and streamline processes. This includes the adoption of AI-powered document review, e-discovery and contract management software to manage high volumes of legal documents and contracts. In addition, the use of cloud-based legal management systems is becoming more prevalent, allowing legal teams to securely store and access documents from any location. Finally, more legal departments are utilizing data analytics to gain insights into their legal activities and make more informed decisions.

The risks of low digitalization of a legal department:

1. Increased Risk of Human Error: With low levels of digitalization, manual processes are more common, leaving more room for human error. This can lead to costly mistakes, both in terms of time and money.
2. Slower Processes: Low levels of digitalization can mean slower processes, especially when manual methods are used. This can lead to delays and missed deadlines, which can have an impact on client satisfaction.
3. Increased Costs: With manual processes, the cost of labor is higher than with digital processes. This can lead to higher costs and a decrease in productivity.
4. Security Risks: Without digitalization, data can be more easily accessed by unauthorized personnel. This can lead to data breaches and other security risks.
5. Inability to Scale: Low levels of digitalization can limit the ability of a legal department to scale as the needs of the business grow. This can lead to a lack of efficiency and cost savings.

On the other hand, advantages of digitalization of your department:

1. Improved Efficiency: Digitalization of legal departments can improve efficiency by streamlining processes, removing manual labor and reducing the amount of paperwork. This can help to reduce costs and save time.
2. Better Collaboration: Digitalization can enable better collaboration between legal departments and other parts of the organization. By using digital tools and platforms, teams can easily share documents and communicate in real-time.
3. Increased Security: Digital tools and processes can help to improve the security of legal documents and data. This can help to protect confidential information and reduce the risk of data breaches.
4. Improved Analytics: Digital tools can help to automate the analysis of legal data and documents. This can help to identify trends and spot potential risks in a more timely and efficient manner.
5. Increased Accessibility: Digitalization can make legal documents and data more accessible to staff and clients. This can help to improve customer service and ensure that everyone has access to the information they need.

What should you do ?

1. Automate routine legal tasks: By automating routine legal tasks such as document drafting & review, contract management, and document workflow, legal departments can free up resources to focus on more complex legal matters.
2. Implement a knowledge management system: Implementing a knowledge management system helps legal departments to store, organize, and share legal knowledge, making it easier to access and use.
3. Leverage artificial intelligence: Leveraging artificial intelligence (AI) in legal departments can help automate processes and reduce costs. AI can also help improve decision-making accuracy and efficiency.
4. Utilize cloud technology: Utilizing cloud technology enables legal departments to access documents and systems from anywhere. This helps streamline processes, improve collaboration, and make data more secure.
5. Hire legal technologists: Hiring legal technologists helps legal departments stay ahead of the curve when it comes to digitalization. These individuals can help implement new technologies and help legal departments keep up with the fast-paced digital world.

Deloitte's legal operate:

Legal operate is the process of conducting business activities in accordance with the law. This means that businesses must comply with all applicable laws, regulations and standards in order to remain in operation. This includes understanding, interpreting and complying with laws, regulations and standards related to their particular industry, such as those related to labor and employment, health and safety, environmental protection, taxation, and contract law. Companies must also adhere to ethical standards, including those related to privacy, data security, anti-corruption and consumer protection. Furthermore, businesses must comply with the rules and regulations of the market in which they operate. Failure to comply with legal requirements can result in significant civil and criminal penalties.

Legal Management Consulting:

Companies need their legal teams to keep pace with the commercial needs of the business; while at the same time, legal departments are increasingly being challenged to do more with the same or fewer resources. As Law Firm of the Future, Deloitte Legal aims to address these needs through its innovative Legal Management Consulting (LMC) offering, developed in close collaboration with the global Deloitte network.

Legal Management Services:

In addition to our LMC offering, Legal Managed Services give you access to qualified lawyers under a commercial model which incentives us to do the right thing for your organization. That means automate where possible, self-service where relevant, outsource where needed and exercise our legal judgement wherever it is genuinely needed, while providing you with real-time data that enables us to work together towards continuous improvement.

More information and a link to contact us on:

Legal Managed Services & Legal Management Consulting (deloittelegal.be)

Why Deloitte Legal ?

Deloitte Legal is the global legal network of Deloitte Touche Tohmatsu Limited (Deloitte Global). Deloitte Legal offers a full range of legal services to Deloitte Global’s member firms, their clients, and other entities. Deloitte Global’s legal services are provided by an international network of highly experienced lawyers and legal professionals in more than 150 countries. Deloitte Legal focuses on providing legal advice and services related to corporate and commercial law, tax law, employment and labor law, intellectual property law, dispute resolution, and regulatory compliance.

1. Experienced and Skilled Lawyers: Deloitte Legal operates a team of experienced and skilled lawyers who are well-versed in all areas of the law. They are able to provide tailored legal advice and services to each individual case.
2. Highly Reputable Brand: Deloitte is one of the most respected and well-known professional services firms in the world. This means clients can have the peace of mind that they are in safe hands when it comes to their legal matters.
3. Proactive Approach: Deloitte Legal takes a proactive approach to legal matters and works closely with clients to help them understand their legal rights and obligations. This helps to minimise the risk of disputes, as well as reduce the cost of legal proceedings.
4. Global Reach: Deloitte Legal operates on a global scale, meaning clients can benefit from international expertise and advice. The firm also has a strong presence in the Middle East, Africa and Latin America.
5. Comprehensive Legal Services: Deloitte Legal offers comprehensive legal services, from corporate law to dispute resolution. This ensures that clients receive the best possible advice and representation for their legal needs.

Contacts

If you have any questions concerning the items, please get in touch with the Deloitte Legal - Lawyers:

• Jan Roggen, jroggen@deloitte.com  + 32 2 800 70 41
• Pascal Van Glabeke, pvanglabeke@deloitte.com  +32 475 900 950