Unlock efficiency and growth through legal managed services

From managing high-volume contract work to navigating complex regulations and rapid tech advancements, in-house legal teams are stretched beyond capacity. How can organizations transform the legal department from cost-center to business enabler?

New survey research from KPMG, conducted by Forbes Insights, examines the challenges of today’s legal operations and the potential for managed services to unlock efficiency and growth - helping to boost productivity, cut costs and scale data-driven processes.

Legal functions often lack the bandwidth or tools to move at the speed the business requires. Managed services can help reimagine the operating model -freeing up legal teams to focus on strategic risk while accelerating business throughput. It’s a new form of outsourcing strategy that an growing number of inhouse legal teams are leveraging.

Explore this article about how you too can unlock efficiency and growth through legal managed services.

Key takeaways include:

Contract management is a costly endeavor

A total of 66% of global executives in our survey budget between US$51 million and US$125 million to fund contracts managed services support.
Data inconsistency is a roadblock

Only 31% of leaders have a single source of truth with established governance to manage their contract inventory.
Gen AI has high potential

Some 73% of executives say Gen AI is speeding up contract drafting and review.
Legal is undervalued

A mere 31% of nonlegal executives believe the legal team is viewed as a critical partner for contract management.

Unlocking efficiency and growth

How legal managed services can transform your business

Download the article

This is a newsletter issued by the KPMG Legal Reimagined Nordic and Baltic Group, a collaborative initiative since 2021 with the aim to revolutionize the legal landscape within our region.

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