The Challenging Interrelationship of Business, Legal Departments, and Technology

The legal departments in the business world of 2024 will face new challenges. According to a blog post by Bigle Legal, the relationship between legal and business is evolving. This evolution involves business demands on legal departments, a central role for legal tech in transformation, and specific requirements of businesses for legal tech.

Business expectations for legal departments are characterized by a need for speed in decision-making, agile management of legal processes, and effective collaboration with the rest of the business. The legal department is expected to adapt rapidly, establish key performance Indicators (KPIs) for performance measurement, and go beyond compliance by proactively addressing changing regulations.

Legal Operations can help the business flourish and move forward by responding to the demands of the industry. Legal technology is a key strategic tool that can streamline processes and increase efficiency. The demands of the business on legal technology include seamless integration, continuous innovation, implementation of artificial intelligence, and efficient contract management. Legal technology should also interact with other tools and platforms, evolve to meet future needs, incorporate generative AI for manual task efficiency, and prioritize contract lifecycle management to ensure compliance and risk reduction.

Legal Operations can play a vital role in addressing the demands of the industry and helping the business flourish. The integration of legal technology with other tools and platforms, continuous innovation, and the implementation of artificial intelligence are some of the key requirements of businesses for legal tech. By prioritizing contract lifecycle management and compliance, legal departments can proactively address changing regulations and reduce risk.