This year’s CLOC Global Institute is being held May 6-9, 2024, at the Aria Resort & Casino in Las Vegas. Previously held at Mandalay Bay, Aria’s conference space is more confined and easily navigable if there is even such a thing in Vegas. This year’s conference theme is RECHARGE. RECHARGE is CLOC’s mandate for the future. By building on its robust foundations, it wants to embrace the spirit of experimentation in legal ops, pushing boundaries and setting the stage for the next era. CLOC and its members are here to recharge, reshape and revolutionize legal operations.
Wednesday session of note recap:
Tomorrow’s Standard, Today’s Advantage: Strategic Partnerships and Technology Catalyzing Innovation and Transformation
Participants in this stellar panel were Drew Blazaitis, SVP Product & Strategy at Fulcrum GT; Stacy Walsh, AVP Corporate Legal Operations at Travelers; Jennifer Mattson, Associate Vice President – Legal Operations at Nationwide; and Daniel Hwang, Intellectual Property Partner at Global IP Counselors LLP.
Their conversation delved into the intricacies of fostering effective partnerships amidst shifting paradigms. Speakers emphasized the necessity for mutual alignment, investment of time, trust, and vulnerability. There’s a consensus on the pivotal role of data in driving decision-making processes, particularly concerning cost measures and project management principles.
As the dialogue unfolded, it became evident that strategic partnerships entail more than mere transactional interactions. They necessitate a nuanced understanding of client needs, a willingness to adapt and the cultivation of genuine, collaborative relationships. Participants highlighted the importance of prioritization, efficient resource allocation and leveraging technology to optimize outcomes.
Furthermore, the dialogue underscored the significance of transparency, honest communication and constructive feedback in nurturing successful partnerships. Participants shared positive and negative experiences, emphasizing the value of authenticity and genuine engagement in driving meaningful collaboration.
The Challenge of Demonstrating ROI
ROI is a challenge for legal departments, as the return often involves intangible contributions, such as hours saved rather than financial gains. Prioritization involves evaluating projects for continuous improvement, technology enhancements, and efficient utilization of outside counsel services. Efficiencies are sought through maximizing internal and external partnerships, as well as leveraging technology resources.
Ultimately, the aim is to enhance the performance of the chief legal officer’s team by understanding organizational goals and delivering accordingly. Prioritization is guided by these objectives.
In managing limited resources against an extensive to-do list, successful outcomes often depend on leveraging partnerships and collaborations. Positive examples include productive relationships with internal technology teams, characterized by open communication and mutual understanding of priorities and challenges.
Such partnerships contribute significantly to operational success, demonstrating the value of collaboration and effective communication. Replicating such successful partnerships across all areas would be ideal.
Key Takeaways
Key takeaways from the discussion included the imperative of regular strategic business reviews, the role of data in informing decision-making and the importance of personal relationships in driving successful partnerships. The dialogue encapsulated a multifaceted approach to navigating the evolving legal landscape, where technology and human-centric principles converge to catalyze innovation and transformation.
Tomorrow’s standard in the legal domain hinges on today’s proactive cultivation of strategic partnerships and the judicious utilization of technology. By embracing collaborative approaches, fostering genuine relationships and leveraging data-driven insights, organizations can position themselves at the forefront of innovation and gain a competitive advantage in an increasingly dynamic and competitive market landscape.