The fast and the curious
But without universal agreement on what constitutes value, in-house legal teams need frameworks and models to help increase their impact and influence.
Empowering in-house lawyers
to create business value
Legal teams are under increasing pressure to transform. To create and demonstrate value, directly contributing to the bottom line.
Legal teams are under increasing pressure to transform. To create and demonstrate value, directly contributing to the bottom line.
But without universal agreement on what constitutes value, in-house legal teams need frameworks and models to help increase their impact and influence.
The journey to creating higher value
Legal considerations affect all aspects of a business, putting in-house legal teams in a unique position to create value. They can use their assimilated knowledge to positively impact the bottom line or contribute to the businesses’ wider social purpose.
LexisNexis report (May 21) ‘Making the intangible, tangible: how legal teams are approaching value creation’.
Lexis Nexis report (May 21) ‘Making the intangible, tangible: how legal teams are approaching value creation’.
Discover more and access the full report
Barriers to transformation
The burden of day-to-day work often leaves in-house lawyers stretched and with limited time for creating value, facing multiple challenges:
“In-house legal departments have an opportunity to be true value creators for their business. But to do that they need to find a way of delivering advice and managing risk and cost effectively to maintain business as usual, and still have the time and business insights to think creatively. Given the pressures they are under, that’s never easy.”
Michelle Sally, TLT
Headcount and budget limitations
More complex business models
Increasing regulation and competition
Shortening timescales for delivery
An ever-growing workload
Challenges with capturing data to manage performance and spot opportunities
The 3 Ps model for creating value
Each in-house legal team will have its own starting point on the journey to creating more value.
“Technology should be capable of doing the ordinary, so that in-house lawyers can deliver the extraordinary.”
James Touzel, TLT
“Technology should do the ordinary, so that in-house teams can do the extraordinary.”
James Touzel, TLT
identifying what a good value creator looks like for your business
Click on our 3 Ps below and see how they can help legal teams respond to this challenge.
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be ready for what comes next
Transformation is coming to the legal department of every business and organisation. Together, we can anticipate what the future looks like, empowering you to become successful value creators.
Download our report to read more about TLT's 3 P’s value creation model.
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We’d love to talk so please get in touch.
James Touzel
Partner, Head of Digital and FutureLaw
Michelle Sally
Partner
Jonathan Townend
Head of Managed Legal Services
Megan Jackson
Head of Legal Project Management
People
Purpose
Performance
Skills development
Resource management
Equality, diversity & inclusion, and wellbeing
Change management
Vision and Strategy
Voice of the business programme
Business relationship management programme
Business horizon scanning
assessing where you are now
planning for how you can reach that position with impact
People
Purpose
Intake and activity management
Process optimisation
Data to insights
Intelligent technology
Performance
You can prioritise the right first steps for your team by:
Intake and activity management
Process optimisation
Data to insights
Intelligent technology
Performance
Skills development
Resource management
Equality, diversity & inclusion,
and wellbeing
Change management
People
Business horizon
scanning development
Voice of the business
programme
Vision and Strategy
Business relationship
management programme
Purpose
The value framework
High added value
Low added value
Little influence and impact
Significant influence and impact
Providing a service that contributes to greater overall value of organisational service
Providing a service that reduces organisational loss of margin
Reducing the cost of service delivery
The skilled lawyer
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01
03
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© LexisNexis
The greatest opportunity
for in-house lawyers today
is to become value creators.
What does value creation mean?
How can it be achieved?
And how do you demonstrate it?
Change management
Equality, diversity & inclusion, and wellbeing
Skills development
Resource management
People
Intelligent technology
Data to insights
Intake and activity management
Process optimisation
Performance
Find out more and read our full report
DOWNLOAD REPORT
DOWNLOAD REPORT
Lexis Nexis report (May 21) ‘Making the intangible, tangible: how legal teams are approaching value creation’.
And how do you demonstrate it?
How can it be achieved?
What does value creation mean?
And how do you demonstrate it?
How can it be achieved?
What does value creation mean?
Transformation is coming to the legal department of every business and organisation. Together, we can anticipate what the future looks like, empowering you to become successful value creators.
In this video, James Touzel, Partner and Head of FutureLaw at TLT, sits down with Mark Smith, Director of Strategic Markets at LexisNexis to talk about the greatest challenge – and opportunity – for in-house legal teams: how to meet the increasing pressure to create and demonstrate value in their organisations.
In this video, James Touzel, Partner and Head of FutureLaw at TLT, sits down with Mark Smith, Director of Strategic Markets at LexisNexis to talk about the greatest challenge – and opportunity – for in-house legal teams: how to meet the increasing pressure to create and demonstrate value in their organisations.
Marco Mendola
Legal Technologist
Marco Mendola
Legal Technologist