While global events and domestic regulation shifts continue to cause legal disruptions, UK GCs are also being asked to do more with less. Transactions are expected to move faster than ever, and C-suites increasingly require legal departments to demonstrate a more holistic business case for their operations.
With 93% of General Counsel (GC) now joining their company’s executive management teams, these individuals are at the cutting edge of change in the legal industry. But do GCs drive that change? Or are they reacting to pressure from the C-suite?
Executive management is demanding GCs become value creators and embrace digital transformation, in their joint role of trusted business partner and their team’s in-house lawyers. But if digital transformation were a sport, the legal department has thus far been on the bench, and arguably, there’s no better time to start playing the game.
Stepping Outside the Silo
Legal, procurement and commercial contracting departments are under increased pressure from their boards, CEOs and CFOs to operate differently. The GC, as the head of the legal department, is now responsible for driving efficiency and doing more with less, just like any other department head across the business. Gone are the days when legal budgets were left alone while other departments’…
