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.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
