The volume of work for legal departments continues to grow, yet the overall legal department budget is not increasing at the same rate. Legal departments are dealing with how to do more with less. To address this challenge, departments are focusing on legal operations. With an operational focus, legal departments are looking at process improvements and technology to deliver on key department initiatives like controlling outside counsel costs and simplifying workflow and manual processes.
In this 2018 edition of the Thomson Reuters Legal Tracker™ Legal Department Operations (LDO) Index, we highlight qualitative and quantitative insights into US corporate legal department operations.
Key report themes:
- Legal Operations including focus on legal ops, in-house/outside counsel ratios, staffing, diversity and metrics
- Spend Management including sophistication, cost control measures and effectiveness, timekeeper rates and AFAs
- Legal Technology including ranking of key solutions and emerging technology trends
The LDO Index includes responses to a survey conducted among Legal Tracker’s US customers in May 2018. The survey received responses from 217 legal departments, including 76 corporations in the Fortune 1000. Legal departments responded across 34 industries. Top industries of legal departments responding include 11% Healthcare, 10% Financial Services, 8% Consumer Products Manufacturers and 7% Computer Software.
Legal Tracker data is comprised of over US$83B in legal spending from over 1,200 legal departments and 62,000 law firms.
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