KPMG Legal Reimagined Nordic and Baltic’s Newsletter

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. 

In the dynamic landscape of modern business, the integration of technology is no longer a choice but a strategic imperative. For in-house legal functions, embracing Legal Tech through a comprehensive road map is not just a trend; it's a necessity. Here's why:

Why Do a Legal Tech Road Map?

• Operational Efficiency: Streamline workflows, reduce manual tasks, and enhance overall efficiency through the targeted implementation of Legal Tech solutions.
• Risk Mitigation: Identify and address potential legal risks more proactively by leveraging technology to enhance compliance monitoring and regulatory adherence.
• Cost Savings: Implementing Legal Tech can lead to substantial cost savings by automating routine tasks, reducing errors, and optimizing resource allocation.
• Strategic Decision-Making: Equip your legal team with the tools to generate actionable insights, empowering them to make informed, strategic decisions that align with overall business goals.

So what is a Legal Tech Road Map? A Legal Tech Road Map is a documented approach to make your legal function more efficient with the use of selected legal tech solutions, and a road map over how to implement such solutions. Below we have described on a high level examples of the key contents a comprehensive Legal Tech Road Map should cover. This should be tailored and adjusted to fit your specific legal function and business needs;

Contents of a Legal Tech Road Map      

• Current State Assessment: Evaluate existing processes and technologies to identify pain points and opportunities for improvement.
• Goal Definition: Clearly articulate the objectives of integrating Legal Tech, aligning them with the broader business strategy.
• Technology Selection: Research and select Legal Tech solutions tailored to meet the specific needs and goals of your legal function.
• Implementation Plan: Develop a phased approach for the deployment of Legal Tech, considering resource constraints, organizational priorities and dependencies.
• Training and Change Management: Outline a robust training program to ensure seamless adoption and implement change management strategies to address potential resistance.
• Metrics and Evaluation: Define key performance indicators (KPIs) to measure the impact of Legal Tech implementation, fostering a culture of continuous improvement.

How to Get Started

• Engage Stakeholders: Communicate the benefits of Legal Tech to key stakeholders, gaining their support and buy-in for the initiative.
• Build Cross-Functional Teams: Collaborate with IT, compliance, and other relevant departments to ensure a holistic approach to Legal Tech integration.
• Pilot Programs: Consider starting with small-scale pilot programs to test selected technologies before full-scale implementation.
• Continuous Learning: Stay informed about emerging Legal Tech trends and regularly reassess the road map to ensure alignment with evolving business needs.

Lastly, do not hesitate to reach out to us in case you need support on your journey towards developing a Legal Tech Road Map. We have experts and developed methods to support you and your specific needs and queries.

Save the date for the KPMG Nordic & Baltic Summit for in-house legal professionals!

For the third time, KPMG is hosting the annual KPMG & Baltic Summit – The New Era of Legal. The location for the 2024 event will be the KPMG House in Helsinki, Finland.

Plan to join us on March 21, 2024 for what promises to be an insightful, informative and inspiring look into the latest trends, strategies and future of in-house legal functions. The event will bring together thought leaders and innovators from market-leading technology companies, top legal professionals and KPMG expert speakers.

• Keynote address: gain valuable insights from industry experts on the current state and future trends of technology solutions.
• Discussions: engage in insightful discussions with legal professionals and leaders as they share their experiences and strategies for successful legal transformation.
• Networking: connect with like-minded professionals, build valuable relationships, and exchange ideas.

You are warmly invited, so make sure to save the date! Registration is open and a more detailed program will follow in due time.

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