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Hot Topics for 2017

Nine months of face-to-face discussions across Australia and New Zealand have resulted in the evolution of this unique research document – a culmination of conversations with over 80 professionals from Law Firms and In-House legal teams.  Job titles of those who attended included: Group General Counsel/Company Secretary, Senior Legal Counsel, Senior Corporate Lawyers, Principal Lawyers, Law Firm Partners, Director of Technology, Chief Information Officer, Director of Legal Affairs, Head of Innovation, Legal Technology Manager, Legal Project Manager, and Legal Technology Specialist.

From these round-table discussions, seven important themes emerged – the hottest issues facing industry right now.

 

 

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  • Building an Effective Business Case for Legal Innovation

    To succeed in delivering disruptive legal services, we know we need to be on the same strategic page as the business. So how do we begin to build business cases – how do we get everyone around us focussed on innovation?

    Enablers to achieving excellence:

    • Transforming transactional and operational data into information that will enable intelligent business decisions
    • The Why - Articulating and communicating a clear vision and strategy for innovation
    • Creating a strategy which aligns with the overall business aims and objectives
  • Creating the Skills and Capability for Successful Innovation

    Innovation is nothing without successful implementation, harmonised business processes and internal champions driving adoption.  An organisation’s culture can have a huge impact on the success of sustainable innovation.

    Enablers to achieving excellence:

    1. Building innovation initiatives which are flexible and agile - don’t be afraid to fail fast
    2. Ensure we have the capability and competency within our organisation for innovation
    3. Avoiding the Fear – creating a culture where change and innovation are embraced not feared
    4. Build a team who are comfortable being uncomfortable
  • Project, Change and Stakeholder Management

    How do we get key team members on board to help us succeed in our legal innovation projects? Building successful project teams is difficult, whilst maintaining business as usual priorities and keeping up momentum during stressful times.

    Enablers to achieving excellence:

    1. Identifying and empowering the key people with the qualities to win and retain support from the specialists within the business
    2. Ensure you avoid change fatigue and not "change for changes sake''
    3. It’s essential we can demonstrate our end-to-end vision – we have to get the roadmap right and follow it through
  • Data Driven Decision Making – Being Able to Know, and Able to Show

    Good data allows good decision making. When we don’t set ourselves up to use the best data, we’re forever chasing our tails. But there are two polarising challenges affecting the legal profession. Too much data and we see a lack of context and focus.  Too little and there are questions of integrity and quality.

    Enablers to achieving success:

    1. Embedding data governance into the whole organisation and all of its team members
    2. Drive data strategies to enable effective business decisions not the other way round
    3. Utilising date to add business value to your business and your clients
  • The Legal Business of the Future – Is it the End of the Billable Hour?

    Traditional models of legal services appear to deliver a paradox.  The less efficient the service, the more money it costs.  There has been great hype around alternative fee arrangements and the end of the billable hour.  The truth is that many clients and law firms are set up to think in six minute units.

    Enablers to achieving excellence:

    1. Capitalising on relationships between law firms and alternative legal services providers
    2. Adapting and customising the structure of in-house legal teams to deliver efficiency and innovation
    3. Empowering your employees with the skillsets required for legal professionals of the future
  • Cracking the User Experience Conundrum to Drive User Adoption

    This could be the most important moment for your innovation journey, making or breaking any future or long term relationship with your user. How do you design an experience which is easy, intuitive, and invisible, while integrating with all pertinent communications? If you don’t the likelihood is your product or service won’t last too long.

    Enablers to achieving excellence:

    1. Understanding your client and internal stakeholders and how they want to interact with technology
    2. Designing a technology journey appropriate for the desired outcome
    3. Incorporating client and user testing to enable improved offerings and communication – understand how effective the technology journey you have designed really works in practice
  • The Impact of Artificial Intelligence, Automation and Augmentation

    While these concepts are not new to the legal industry, only recently has some of the very latest technology become more mainstream. Today, organisations are looking to real practical examples of how they can use technology to drive innovation in addition to improving efficiency.

    Enablers to achieving excellence:

    1. Turning conceptual ideas into practical solutions
    2. Articulating the business benefit and linking return on investment directly to cost
    3. Maintaining knowledge and relevancy with your clients and competitors
 
 

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