In 2018, Thomson Reuters surveyed more than 400 corporate counsel and senior administrators on their efforts to improve efficiency and increase productivity across their teams. Twenty-five percent of survey respondents decreased their spending on outside counsel over the past two years, and 20% increased the use of secondments — arrangements whereby attorneys are temporarily reassigned to a client’s legal department — up from 7% in 2016. Furthermore, 43% planned to increase the use of contract attorneys (presumably to handle ever-increasing workloads) — while 29% (up from 21% in 2016) hired a legal operations manager.

This ever-growing emphasis on efficiency has motivated lawyers to turn to sophisticated artificial intelligence (AI) tools to reduce duplicative work and shave hours off the time they must devote to manual contract review. But how receptive is your executive team in adopting AI solutions? After all, communicating the anticipated ROI can be challenging, to say the least. Fortunately, our latest whitepaper, The Business Case for AI-Powered Contract Analysis Software, is a deep dive into how making the business case can easily be done by presenting quantifiable outcomes.

By reading this whitepaper, you’ll learn:

  • Data and pain points to help justify an investment in AI
  • How AI reduces reliance on outside counsel
  • How AI helps lower associate turnover and enhance satisfaction
  • How AI helps mitigate risk and boost M&As efficiency

With corporate counsel in a constant battle to balance business objectives with the responsibility to mitigate risk within their organization, articulating the need for innovative investments to them can be challenging. By downloading our whitepaper, you can start making your case today!