Moderated by Morae Global Managing Director Danish Butt, the panel included Ryan Murphy, Director of Legal Operations at LyondellBasell; Russ Dempsey, Associate General Counsel at AIG; and Ben Chrisman, Associate General Counsel at Gridliance. Morae Global Director Jon Gross was also in attendance.
The discussion featured a practical look at digital transformation in corporate legal departments with topics including:
- The way we work – Rethinking workflows and ensuring that the right people are doing the right work.
- The transformative use of technology – Considering how to leverage digital technologies in transforming work, collaboration and business facilitation.
- Use of data analytics – How businesses can identify previously unknown correlations among data sets to better predict outcomes, optimize delivery, mitigate risk and tailor solutions to consumer demands and expectations.
- Change management and adoption – Best practices on leveraging change management to assist in the successful digital transformation of the legal department.
“The panelists represented unique and varied perspectives across industries, legal department size and company size,” says Gross. “However, there were unifying themes across the panel that included the importance of access to data, embracing a wide range of technology and the critical nature of change management.”
Butt opened the discussion by emphasizing how digital transformation is a means to change how companies do business – encompassing people, process, technology and data – with Chrisman further highlighting the need to create a clear and crisp vision and scope.
“There are a thousand ways to move forward and only one way to stand still,” said Dempsey. With only 19 percent of in-house legal teams well positioned to support enterprise efforts, all participants stressed the sense of urgency and importance of moving forward to embrace new technology. “If you are thinking about matter management or e-billing software, you need it,” added Murphy.
Other key takeaways include:
- Develop a solid vision for change or transformation.
- Change management is a distinct activity to any transformation’s success.
- Utilize metrics as an equalizer for the CLO to “compete” with the business unit leaders by leveraging real-time data.
- Adoption and use of the appropriate legal technology are necessary
intoday’s highly competitive and regulated business environment.
- There is a sense of urgency—start before you fall too far behind.
The Morae Global executive roundtable series provides a unique forum to network, learn best practices and discuss the latest issues facing in-house counsel. If you are interested in attending future events, please contact Jon Gross at firstname.lastname@example.org.
SimpleLegal is a leading legal operations management platform that streamlines the way corporate legal departments manage their matters, track and interpret spend and collaborate with vendors and law firms. Founded in 2013, SimpleLegal is privately held and located in Mountain View, California. For more information, visit http://www.simplelegal.com/.
For more information about Morae Global’s upcoming events, please visit https://www.moraeglobal.com/category/events/.