Extract from Richard Tromans’ article “‘Difficulty Getting Budget’ No 1 Reason GCs Struggle With Legal Tech”
A report by global legal services business, Clyde & Co, has found that the number one reason GCs struggle with legal tech adoption and implementation is ‘difficulty in getting budget‘, with 55% of the inhouse lawyers surveyed saying this was the main challenge.
However, one of the least significant reasons was ‘resistance to change from the board’ at just 10%.
At first glance this seems to be a paradox, i.e. budget – which comes from the board/C-suite/CFO is the main challenge, but the data also says that most boards are not actively blocking anything.