The Corporate Counsel article, “Focusing on Enterprise Legal Management” features a roundtable discussion between Parkman and Marcus Hartmann, general counsel for RB. Here is an excerpt from that discussion:
Q. What challenges do you see facing the legal industry in the upcoming year? How are you preparing for those challenges from a technology perspective?
Hartmann: In-house counsel will be called upon to be more strategic in forward thinking organizations. That will mean a greater emphasis on how the legal function impacts the P&L, cash flow, the balance sheet and ultimately, shareholder value. Any technology that can assist and perhaps accelerate that trend will be something I would want to sponsor in my organization.
Parkman: There is an ever-increasing compliance risk, legal risk, and IP litigation to manage… All told, this means that how the legal department manages all of this risk and compliance can make a difference of millions, and even billions of dollars to the company. For many of our clients, the best way to manage that risk is to ensure that they have technology in place to provide the controls and visibility the department needs.
In the Legal Management article, “Enterprise Legal Management and Legal Departments”, Parkman explains the importance of “Legal Operations Managers and Legal Administrators who are responsible for ensuring that the entire department is operating effectively, efficiently and profitably. He says, “Ultimately, they are accountable for providing insight and controls to the department, so our products support that mission by centralizing and organizing information, automating tasks, managing follow‐through, and ensuring that data across the legal department can be reported upon consistently.”
We’d love to discuss how implementing an integrated Enterprise Legal Management solution can help your legal department be more strategic, manage risk, operate more efficiently, and how Mitratech’s market-leading ELM platforms, TeamConnect and Lawtrac, can assist.