Justin Silverman, Senior Director of Product Management for CounselLink at LexisNexis, discussed legal department optimization during his presentation at the 2014 Chief Legal Officer Leadership Think Tank in Houston on Sept. 16. During his presentation, "Legal Department Optimization in 3D," Silverman described how legal departments can effectively manage risk and improve compliance.
According to Silverman, legal department optimization is important for organizations of all sizes. If an organization finds ways to ensure its legal department can respond to myriad issues, Silverman said, it can minimize risk and compliance issues: "I think the primary objectives that we see and hear from our customers are managing risk and increasing compliance in the best legal outcomes. There are a lot of different levers you have to pull to get those, but underlying a lot of that is what I call operational objectives. These are things that really help support achieving those primary objectives. They tend to be more on the business or operational side."
In addition, technology is transforming how legal departments operate, according to Silverman. As organizations look for ways to bolster their legal departments, Silverman said should look for solutions that enable them to streamline their operations. He also noted data assessment is key for legal departments: "We’ve seen customers use it for both law firms and other kind of outside vendors. This is about identifying the set of metrics by which you want to measure the performance of the firms that you’re working with, other vendors that you’re working with. They could be totally objective."