As corporate law departments grapple with mounting costs and workloads, an increasing number are turning to technology and workflow overhauls as strategic solutions. A recent survey conducted by Harbor indicates that 65% of respondents expect to increase in-house legal spending in the coming fiscal year. Additionally, 58% foresee increased expenditures on outside counsel, highlighting the rising financial pressures faced by these departments.
The data suggests a growing acknowledgment within the legal industry of the necessity to innovate and streamline processes to manage increasing demands. The shift towards tech solutions allows law departments to handle workloads more efficiently, potentially mitigating rising costs.