Peer to Peer Magazine

48 PEER TO PEER: THE QUARTERLY MAGAZINE OF ILTA | FALL 2016 FEATURES The Evolving Business of Law view themselves in the corporate context and the way legal is perceived across the organization. What can senior legal department leaders impress on their teams for success? Here are some things the successful corporate legal department must do: » Add value. The department is both a business unit inside the corporation and a cost center that must continually demonstrate how it adds value through the use of reports, tools, key metrics and results. » Maintain interaction. Legal interacts with a wide spectrum of clients and stakeholders: internal clients and departments such as risk, compliance, IT, security and procurement; senior leadership; regional/global operating divisions; outside counsel; consultants; and government and regulatory bodies. » Connect with IT. Legal and IT must work closely to manage the costs, complexities and challenges of electronically stored information, especially e-discovery maers. » Be prepared. The legal department must be ready to manage headcount problems, budget issues, workflow peaks and valleys, and competing internal departmental agendas and interests. » Stay informed. Legal needs relevant, timely information and data to make intelligent business and legal decisions while focusing on mitigating risks. » Balance measurability and creativity. While continuously improving, solving problems and establishing standard work processes that are repeatable, measurable and defensible, legal must also encourage the creative ability to handle crisis situations including new lawsuits, government investigations, etc. » Handle business process relationships. Legal is the front line for external business partners and service providers, running technical or fiduciary business process projects. » Look to the future. Legal must be on the lookout for innovation and best practice operations as it determines how the business of law is changing and how the organization can evolve with it. What direction will legal operations take in the future? It will certainly include the use of data analytics to drive operations optimization and create predictability in how legal maers are managed and closed. Legal operations professionals are a key resource for organizations wanting their legal departments to grow in value. P2P Legal operations professionals are learning the language and principles of accounting, finance and IT management and are managing the company's legal matters with a better understanding of the larger organization's scope and goals.

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