LACCA's research into legal department spend takes a look at how corporate legal teams across Latin America manage and allocate their budgets.
Whether a company is facing a major M&A, the threat of a class action lawsuit or simply carrying out its day-to-day business, legal expenses can be almost impossible to predict. LACCA takes a look at some of the top tips from regional GCs on how to master legal spend management.
LACCA’s research reveals that success for most law firms will increasingly depend on their becoming more flexible and business-like, particularly with respect to how they manage their billing arrangements and engage with clients.
LACCA’s first legal spend survey reveals that, while GCs in Latin America are generally satisfied with their budgets, which have remained relatively steady over the past year, a vast majority want greater predictability when it comes to external counsel spending.
While most in-house teams in Latin America recognise that their company’s IT departments are better suited to deal with cybersecurity threats, lawyers say their legal departments should be more involved in IT prevention strategies when it comes to issues such as guaranteeing data protection.