ZRP Schoenherr
Tuca Zbarcea & Asociatii

Global Study “Future Trends for Legal Services” Shows Fundamental Change in the Legal Profession

17 Iunie 2016   |   BizLawyer

The study was conducted by RSG Consulting and commissioned by Deloitte Legal.

 
 
According to the findings of a new global study “Future Trends for Legal Services” the business market for legal services is undergoing a major change due to complex regulatory environments, increasing risk in many areas, the rise of the digital economy and ongoing pressure to reduce costs.

The study reveals that the needs of companies are changing dramatically, with a majority of participants now considering a significant review of their legal services suppliers. While the demand for legal services is growing overall, there is a need for a new type of advisers that offer a broader set of services. Purchasers of legal services are looking particularly for suppliers who have a better understanding of their industry or business, can provide strategic advice on related non-legal areas, offer multi-disciplinary cross-border services and make better use of technology.  


Andrei Burz-Pinzaru, partner at Reff & Associates, member of the Deloitte Legal network in Romania said: “Our clients are looking for broader solutions which go well beyond legal. Their issues are multi-dimensional and require advisers who deeply understands business dynamics and the impact legal decisions have on other areas of the business, particularly if they have operations in multiple jurisdictions. With the global footprint of Deloitte Legal, the well-established, multidisciplinary approach of Deloitte and our deep local legal expertise and experience in the Romanian market, we are well-positioned to meet the evolving needs of our clients”.

Piet Hein Meeter, Global Managing Director for Deloitte Legal added: “The legal profession is undergoing a massive transformation. We at Deloitte Legal see a clear need for a new type of service that combines legal advice with strategic advice across other disciplines. This is not currently provided by other law firms. Our clients want us to bring new solutions to the table, and that’s exactly the gap we want to fill. Our ambition is to become the law firm of the future.”

A growing market for legal services that go ‘beyond legal’

Overall, both demand and spend for legal services are growing. Particular areas are experiencing faster growth than others, including regulatory compliance (49%), M&A (42%) and litigation (39%). Global compliance is clearly one of the biggest challenges for in-house legal departments today, coupled with the necessity of “doing more with less”.

The majority (55%) of participants in the study (legal counsel, general counsel – or CEOs and CFOs) have taken or are considering a significant review of their legal suppliers. The research shows that, while expectations on services provided by external advisers are evolving, these expectations are not currently being met in a number of crucial areas, including the use of technology, transparency in pricing, and the level of integration of professional advisory services.

One in three legal services purchasers surveyed want their legal services provider to bring industry, commercial and non-legal expertise, which currently they do not. In addition to delivery of specific legal services, respondents said their legal services provider should contribute advice and expertise which goes beyond legal (33%) and more proactive knowledge sharing (18%). 52% said they would be happy to buy services from a non-traditional law firm.

Five future trends for legal services: the buyer’s wish list

1. Integrated cross-border advice beyond legal. A large majority of participants expressed the need for industry, commercial or non-legal expertise. They also want law firms to be more savvy on global data and cyber security protection issues and more pro-active in sharing knowledge across many jurisdictions.

2. Better and greater use of technology. The majority of participants said that technology had not replaced the tasks of in-house lawyers (77%) – yet. But over half (52%) said that this will happen over the next five years. Purchasers want better and more relevant technologies, to be used and shared on integrated platforms.

3. Regulatory and global compliance advice. Nearly half (49%) of all participants said that their department’s legal spend was growing in the area of regulatory compliance. In particular, global compliance is perceived as a major issue for in-house lawyers, with over a quarter (26%) saying it is the biggest challenge within their department.

4. Fixed fees, value pricing and greater transparency. A large majority of participants said they wanted greater certainty and transparency when it comes to billing, and frequently mentioned fixed or capped fees or value-based pricing. 

5. Demand for alternative or non-traditional legal service providers. A majority (55%) of participants in the study have taken or are considering a significant review of their legal suppliers. More than half (52%) said they are willing to purchase legal services from a non-traditional law firm that offers a range of professional services.
 
The study was conducted by RSG Consulting and commissioned by Deloitte Legal. It comprises a quantitative web-based survey with 243 purchasers of legal services in-house, mainly occupying positions such as CEO, CFO, and General or Legal Counsel and took place between September 2015 and February 2016.

 
 

PNSA

 
 

ARTICOLE PE ACEEASI TEMA

ARTICOLE DE ACELASI AUTOR


 

Ascunde Reclama
 
 

POSTEAZA UN COMENTARIU


Nume *
Email (nu va fi publicat) *
Comentariu *
Cod de securitate*







* campuri obligatorii


Articol 3386 / 4992
 

Ascunde Reclama
 
BREAKING NEWS
ESENTIAL
LegiTeam | POPESCU & ASOCIAȚII recrutează asistent ̸ ă | secretar ̸ ă recepție
Concurenta.ro | Solicitările clienților Mitel & Asociații indică un trend crescător al preocupărilor pentru conformarea cu legislația concurenței. Șerban Suchea, Partener: Aproape fiecare tranzacție de M&A din ultimul an a avut o strategie care a ținut cont de aspectele sensibile de concurență
The Lawyer European Awards 2021 | POPESCU & Asociații, Highly Commended Law Firm in South Eastern Europe. Ce alte firme au mai fost în lumina reflectoarelor
INTERVIU | Ionuț Bohâlțeanu, Managing Partner BSMP: Deși nu am început timid anul 2021, nu ne-am așteptat, totuși, să ajungem la stadiul în care să lucrăm în paralel la 11 tranzacții importante. Toate proiectele aceastei perioade sunt extrem de interesante, mai ales prin raportare la specificul domeniilor în care își desfășoară activitatea societățile-țintă. O echipă de 12 avocați gestionează componenta locală a vânzării unui conglomerat global în care sunt implicate mai multe jurisdicții
Filip & Company a asistat DIGI în vânzarea operațiunilor din Ungaria. Freshfields și firma mahghiară Szecskay, prezente în tranzacția de 625 mil. E
Dr. Constantin BRANZAN (Senior Counsel Popescu & Asociatii) - singurul profesionist al dreptului din Romania invitat sa vorbeasca la conferința Starea Statului de Drept in Europa, organizat de Fundatia René Cassin – Institutul International al Drepturilor Omului
POPESCU & ASOCIAȚII obține în instanță o soluție fără precedent pentru Consiliul Local Sinaia
VIDEO | Dicționar de arbitraj: Locul arbitrajului și organizarea audierilor (Powered by ZRVP)
LegiTeam: GNP Guia Naghi și Asociații recrutează tineri avocați | Pharma & Life Sciences, Litigii
Obiectivele Teleperformance în zona ESG sunt în continuă dezvoltare, firma angajându-se să preia un rol de lider în responsabilitatea socială corporativă. De vorbă cu Laura Rudnyanszky, Chief Legal and Compliance Officer pentru România, despre certificarea Verego SRS primită pentru al cincilea an consecutiv și principiile cheie care stau la baza activității companiei
Avocații PNSA au asigurat asistența legală a tranzacției prin care celebrul alpinist David Neacșu a vândut compania GD Escapade. Alexandru Medelean (Wise Way Advisors), consultant principal al tranzacției
Avocații firmei Țuca Zbârcea & Asociații spun că a crescut gradul de specializare și sofisticare a mandatelor privind GDPR, în special din perspectiva complexității aspectelor implicate, dar și prin prisma aportului de know-how și inovare cerute pentru rezolvarea lor. Echipă dedicată exclusiv proiectelor de acest tip și portofoliu de clienți ce include primii cinci jucători din aproape toate industriile cu expunere semnificativă în zona GDPR
 
Citeste pe SeeNews Digital Network
  • BizBanker

  • BizLeader

      in curand...
  • SeeNews

    in curand...