November marked KorumLegal's inaugural General Counsel Round Table Breakfast event... and it was a great success!
The topic for discussion was "Preparing Tomorrow's Digital GC" and in attendance were General Counsel's based in Hong Kong from a broad range of industries including banking, professional services, bio-tech, fin-tech, media, e-commerce and airlines.
Discussions centred around the sticking points for General Counsel's in bringing technological solutions into their business. The event went like this:
- A panel discussion which included Sarah Bower (Chief Legal Counsel for China at KPMG), Lisa Lam (ex Lead International Counsel at Alipay) and Stephen Man (VP and Deputy General Counsel at eBay) discussed their own experiences with LegalTech;
- The session started with a helpful overview of the current status of professional services innovation and LegalTech and the factors driving change in the legal services industry;
- what they'd seen introduced in their respective businesses/industries;
- how they introduced the tech to their team and the greater business;
- what they still needed/wanted to do/implement/achieve; and
- what the biggest roadblocks were for introducing the new technologies, and
The big pain point for majority of participants was implementing successful technology, and of course formulating the business case to invest in tech for the legal function!
The event is the beginning of a series of GC events for KorumLegal.
One of the key takeaways: 40% of legal time is spent on administrative tasks….40%!
So the question is: How can technology help with this, to allow your lawyers to spend their time on high value client work?
KorumLegal is a boutique legal consultancy committed to providing value innovation in legal service delivery. The legal services industry is continuing to change with 'NewLaw' – and clients are seeking more innovative and cost-effective solutions without compromise on experience and quality.