How General Counsel Construct a Flexible Legal Department Budget | MinuteBox Cloud Entity Management

How General Counsel Construct a Flexible Legal Department Budget

Insights for Corporate General Counsel

About this Highlight

In this highlight we hear from Associate General Counsel at Espresso Capital, Ryan Hayes on legal budget flexibility. How does a general counsel effectively budget and account for flexibility in yearly planning? How to advocate and champion legal budget flexibility with executive leadership.

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How General Counsel Construct a Flexible Legal Department Budget

Insights for Corporate General Counsel

About this Highlight
What you'll learn in this webinar highlight 👇
  • How frequently to set your legal technology budget
  • Who to ask for approval when new legal technology expenses arise
  • How to turn a corporate legal department from a cost-center into a profit-center
  • Why general counsel should think about legal budget as an opportunity cost
  • Steps to integrating a new legal tech tool
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Five tips to creating a flexible legal tech budget 💪🏼 👇

Top Quotes from this Webinar Highlight

How General Counsel Construct a Flexible Legal Department Budget

What can you do to get a better chance of approval for an item in your legal tech budget?

So is it going to save costs? Is it going to save time? And when you do those things and you have a greater chance of approval.

What are the most important things to consider if you are implementing a new legal technology tool?

So if it's a, you know, if it's a new tool, you make sure you have to, you know, you put your project manager hat on, develop an implementation plan, figure out the rollout, you know, work closely with the technology team to make sure it fits into the existing technology structure, plan training, all that roll out for teams that are going to sort of also something along those lines that sort of tool, you know, take responsibility for what you're doing is I think really important to developing out your plan and that develops trust and ownership of it.

Do you have any other tips to saving budget space for general counsel creating a technology budget?

So recently we hired an associate and he works very closely with our underwriting team, which we work closely with as well. So we sort share that associate 50/50, because we weren't at the point where we both needed a full, extra person. So we sort of were to say, Hey, you know what? This would actually work really well to sort of share the person because we're already sharing this information already. So it's sort of one person that's connecting as well.

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