Digital Transformation Scorecard
IS IT TIME FOR YOUR DIGITAL TRANSFORMATION JOURNEY?
Without question, technological innovation continues to take hold in consumer and corporate life,
affecting the status quo. General counsels, in-house legal departments, and contract teams have been touched by digital technologies, too. To legal counsels and management consultants alike, legal digital transformation now plays an important role in their function and represents a significant paradigm shift. Legal technology – infused with artificial intelligence and machine learning – automates repeatable, mundane tasks. It makes it fully possible for legal professionals to do more – and do it better – in far less time. It allows you to focus your natural abilities and intelligence on higher-level problem-solving, extend your influence, and help shape your company.
Of course, there is a variety of ways legal departments and firms can take their first digital transformation journey steps. You can:
- Choose out-of-the-box (OOTB) – instead of customer-coded – legal technology
- Find champions of digital innovations within the organization – those embracing digital and using new contract management technology
- Focus on business and technology outcomes – like improved efficiencies and business processes, and cost savings – reflected by key performance indicators (KPIs)
- Set realistic return on investment (ROI) benchmarks
Whatever your digital strategy is, consider taking a step-by-step approach in your digital transformation efforts that does not leave anyone behind. This way, you are far more likely to improve organizational efficiency, lower operating costs, and succeed in your digital transformation initiatives.
Now, find out where exactly your organization is in its digital transformation journey. Fill out the scorecard below to learn if there are deficiencies in your contract management. You will then be able to address these deficits while creating a long-term, sustainable plan for digitization.