The majority of General Counsel expect workload to outpace budget over the next few years (according to EY), which means corporate legal teams have to be strategic with their resources (internal and external).
Navigating budget season goes beyond mere cost-cutting and extends into a deeper understanding of:
- Avoiding short-term decisions that increase costs long term: Why focusing solely on cost-cutting can be counterproductive (and how to avoid it!).
- Understanding spend from the ground up: Best practices for breaking down the amount of work, where it’s coming from, its seasonality, and any bottlenecks.
- Making sure the work is right-sized: Optimize in-house and external time by using workflow optimization and have your external firms focus on the right kind of work.
- Optimizing external spend/ internal resources: Negotiating the best terms with outside counsel and identifying opportunities for significant cost savings.
It’s a lot to ask of legal departments already juggling day-to-day operations and invoices, which is why we sat down with the experts who can help you put your legal spend management under a microscope. Tune in and uncover ways you can streamline and simplify work — both internally and externally.