Legal Team
Legaltech offers cost-cutting and efficiency gains, but competing budget priorities may impact legal departments. Strategic alignment and a focus on high-impact tools will be key for GCs aiming to add value in 2025.
Source: Axiom
Legal departments are increasingly turning to technology to streamline operations, cut costs, and drive strategic value. By 2025, General Counsels (GCs) anticipate a significant return on investments in AI-powered tools, such as virtual legal assistants, predictive analytics, and automated billing systems. Nearly all GCs (98%) expect these technologies to reduce departmental costs and free up time for high-value tasks.
However, despite the benefits, GCs are wary of budget disruptions. Broader company investments, especially in technology, HR, and real estate, may impact the legal budget, as priorities shift amidst economic uncertainty. Additionally, reliance on legacy tools like e-billing is expected to decline as legal teams prioritize more advanced solutions that enhance insights and drive efficiency.
To thrive, GCs must align tech investments with broader business goals, focusing on tools that deliver maximum operational impact. As legal departments balance innovation with budget constraints, those who adopt a strategic, data-driven approach will lead the transformation of legal services, turning today’s challenges into tomorrow’s strengths.
Read more: Axiom