IPRO survey reveals budget constraints are expected to be the biggest challenge for legal professionals in 2023
Author: IPRO
… "As the legal industry continues to evolve, corporate legal professionals have an unprecedented opportunity to embrace transformational change and leverage technological developments to their advantage," IPRO CEO Dean Brown said. "But at the same time, as our survey reveals, legal professionals are under significant pressure to justify any additional spending on new technology."…
… More than half (53%) of surveyed corporate legal professionals named budget the main factor that will impose the biggest challenges for their departments in 2023…
… 74% of respondents said increasing their use of technology is their top priority this year…
Good survey points from IPRO/Acedes. I just wish the IPRO site was working to download the full survey data. Justifying technology and managed service investments requires understanding your overall eDiscovery lifecyle and unique profile. You have to look past the most recent monster matter to quantify your smaller dockets, investigations other discovery usage cases that fly under the radar. While I have indeed supported technology purchases on the ROI from single matters, execs want to understand the bigger picture impact in reducing department hours and risk beyond just hosting fees. The eDiscovery market has squeezed provider margins and forced automation productivity investments that may not be practical for a small litigation support team. Right size your investments to the steady state discovery demands and partner for burst capacity support when you hit the big ones. Just sharing some observations from assessments and RFP engagements for those pushing for budget.