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Legal Department Spend Survey 2018

Legal Department Spend Survey 2018

LACCA’s research into legal department spend takes a look at how corporate legal teams across Latin America manage and allocate their budgets.

Introduction

Legal spend survey: Predictability is key

LACCA’s first legal spend survey reveals that, while GCs in Latin America are generally satisfied with their budgets, which have remained relatively steady over the past year, a vast majority want greater predictability when it comes to external counsel spending.

Analysis

Top Tips: Legal budgeting

Whether a company is facing a major M&A, the threat of a class action lawsuit or simply carrying out its day-to-day business, legal expenses can be almost impossible to predict. LACCA takes a look at some of the top tips from regional GCs on how to master legal spend management.

Fee flexibility is key for firms to remain competitive

LACCA’s research reveals that success for most law firms will increasingly depend on their becoming more flexible and business-like, particularly with respect to how they manage their billing arrangements and engage with clients.

Only a quarter of legal teams invest in cybersecurity

While most in-house teams in Latin America recognise that their company’s IT departments are better suited to deal with cybersecurity threats, lawyers say their legal departments should be more involved in IT prevention strategies when it comes to issues such as guaranteeing data protection.

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