Opinion | 01 September 2015

Nearly every business uses Excel for straightforward accounting tasks, but for corporate legal departments dealing with multiple matters involving external legal service providers, specialised budgeting software brings significant business benefits. Although Excel is a useful repository for financial information and facilitates financial analysis, this requires manual collecting, inputting and updating data. Accurate financial planning, reporting and forecasting require relevant, timely and complete information. When it comes to legal services provision, much of this information is held by external law firms and Excel offers no easy way to track, manage and compare outsourced services and suppliers. Furthermore, once a system has been set up in Excel, it is not easily changed or reconfigured.

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Corporate & Commercial | 01 June 2015

The UK’s corporate legal profession has doubled in size in the past 15 years and one in four solicitors now works in-house. Lawyers, therefore, have more influence over corporate decision making and corporate lawyers represent a greater proportion of the profession than ever before. How can general counsel keep the legal function at the heart of the business? [Continue Reading]

Legal Briefing

Author(s)

  • Joanna Goodman, , Thomson Reuters

    Joanna Goodman

Opinion | 01 May 2015

Budgeting is a critical concern for in-house lawyers, in terms of litigation and day-to-day legal work. While the Jackson reforms have forced parties to litigation to consider the costs element of dispute resolution, the fact that legal spend routinely represents a significant balance sheet item has led corporate legal departments to focus sharply on validating their budgetary requirements and getting the best possible value from those budgets. The answer is to adopt a strategic approach, supported by the right technology, to procuring and managing external legal services.
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Legal Briefing

Author(s)

  • Joanna Goodman, , Thomson Reuters

    Joanna Goodman

Opinion | 01 April 2015

Economic and regulatory changes, developments in the legal market, the increasing volume and complexity of workload for legal teams and the advent of technology are changing how general counsel work, how they see themselves and their position in the organisation. How has being a GC changed and how are GCs managing the evolving requirements of their job?
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Legal Briefing

Author(s)

  • Joanna Goodman, , Thomson Reuters

    Joanna Goodman

Opinion | 01 February 2014

Once a trainee has finished their legal education and completed a training contract, they can expect a prosperous and satisfying career. But one thing that many law students are not taught is how to run, or succeed in a business. Law firms have traditionally struggled with marrying the business of law with the practice of law, but less talked about is how in-house legal departments often struggle with integrating into their companies as a collaborative and effective unit of the business. To run like a business unit, it is important that your entire legal department has a culture of collaboration, an understanding of your company’s business and how to demonstrate your department’s success within the business. The following is a list of the top ten ways to help you and your legal department integrate with your company and function more like a business unit.
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