Legal departments’ embrace of technology may not be solely driven by cost-efficiency considerations, but it plays a significant part in deploying many services and tools. Yet leveraging novel and innovative solutions to stretch budgets is still a limited phenomenon in corporate legal, as many eye other cost-savings strategies and tactics, according to The Blickstein Group-Exterro Study of Effective Legal Spend Management.
The study, a survey of managers and professionals in 51 legal departments, found that over half (57 percent) of respondents’ legal spend remained flat or decreased from 2016 to 2017. Among those, 19 percent of budgets remained flat, while 22 percent decreased less than 10 percent, and 16 percent decreased more than 10 percent.
