Most GCs in financial services have had to tackle the cost-saving challenge in recent years. In response, functions have introduced a variety of models and initiatives to meet this challenge. Despite a range of cost-saving exercises, additional saving mandates continue. In some cases, clients can no longer rely on small incremental savings over time and are looking at new ways to rethink the way legal services are delivered and providing better services and experiences to their in-house teams and internal customers in the process.
- What are the levers at a GC’s or a Legal Operations Director’s disposal to generate a mix of fast, medium and long term savings?
- How are these measured and demonstrated to the business?
- How can legal departments achieve a step-change in the cost efficiency of the function and unlock value from an increasingly diverse and differentiated legal services market?