Why the legal function must be reimagined for the digital age

The EY global survey finds that legal functions must change their operating models to maximize value from digital transformation.

The recent EY legal operations survey of 1,058 senior legal practitioners from businesses around the world demonstrates the pressures that legal functions are currently under and how these may ultimately drive a change in operating models. In one of the most comprehensive surveys ever undertaken into the legal function, responses revealed that legal functions are having to balance an increase in demand against a squeeze on costs, while remaining compliant with a challenging and ever-changing regulatory environment. At the same time, they are struggling to capitalize on technological advances and are having difficulty attracting and utilizing talent resources.

As a result, many legal functions acknowledge that their operating model may well have to change – including exploring increased use of external providers – in order to meet these challenges.

Our survey methodology

Five key trends have emerged from the survey response data.
1. Cost pressures are driving change

It’s evident from the responses to our survey that legal functions are having to do more with less.

Indeed, responses to our survey indicate that 82% of businesses plan to reduce legal function costs over the next 24 months.

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