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NewLaw

Enabling businesses to build legal functions of the future

Innowell

The pace of disruption to the legal industry grows at an unprecedented rate. New service providers, delivery models, technology and client expectations are driving the upheaval. Our team of world-class experts help in-house legal departments and law firms navigate the change and transform to more effective and valuable businesses.

You are:

 
An in-house legal team
A law firm

Challenges facing inhouse legal teams

In a world where in-house legal departments are facing budgetary pressures to reduce external spend and headcount, we can help you manage your finances to deliver more efficient legal services - whatever your budget.

In-house legal departments are increasingly being seen as a cost centre. It’s more important than ever to embed a culture of measuring performance and an ability to articulate value to the business. We can help you harness the power of data to demonstrate the value of the legal function and discover insights.

Where your business’ compliance and control is achieved through considerable manual effort, we can help you navigate an increasingly complex risk and compliance burden and be prepared for the future.

It’s easy to be overwhelmed by the vast number of legal specific technologies out there. Your team’s IT architecture might lack integration, or might be fragmented or outdated. We can help you invest in the right LegalTech and integrate it into your wider ecosystem, uncovering efficiency where you did not know it existed.

Outdated, disparate and inconsistent processes can weaken synergies between systems and teams within your organisation. We can help you boost team collaboration and drive efficiencies across process-flows and knowledge management.

Challenges facing law firms

The crash of 2008, and the COVID-19 pandemic, has cut legal budgets, embedded competitive panel pitches as the norm, and moved law firms into the same category as any other supplier. Clients' expectations are higher than ever, whilst at the same time demanding more for less. Return on investment is now more important than ever.

Driven by surging cost pressures, and the need to improve efficiency, leverage cutting-edge technologies and access specialised expertise, organisations are increasingly using new (no longer “alternative”) legal service providers. Law firms are facing mounting competition from these providers, with their growth accelerating in the wake of the pandemic.

An increasingly technologically-aware buyers’ market is looking towards law firms to invest in new technology to improve productivity, efficiency and service delivery. The COVID-19 pandemic put a spotlight on remote and automated solutions, and the effective use of technology is now recognised as a key enabler for successful law firms.

Trends such as remote working, virtual collaboration and online working were visible long before the COVID-19 pandemic. Firms that settle for the status quo will miss out on the gains to be achieved from improved ways of working, such as expanding hiring pools beyond geographic borders, and capturing data to unlock efficiencies. Agile law firms that embrace new ways of working will be most successful.

Lack of specialisation is a leading reason for corporate clients switching law firms. Law firms are beginning to realise that a generalist legal services is no longer a sustainable business model, with many now focusing on greater specialisation of legal services offered.

Contact us

Mick Sheehy

Partner, PwC Australia

Tel: +61 400 882 764

Peter Dombkins

Director, Tax, PwC Australia

Tel: +61 416 940 875

Marlo Osborne-Smith

Director, Tax, PwC Australia

Tel: +61 417 974 416

Carl White

Director, Tax, PwC Australia

Tel: +61 423 254 484

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