Legal technology investments: How to maximize value?

Automated contract markup

Investment in legal tech appears to be continuing unabated. As Tracxn, a VC and Investor analytics and advisory firm report, over $5bn has been invested into the sector in the last 3 years alone, across approximately 1,200 companies. The received view that legal departments and law firms are in the backwater of technology adoption, is fading fast. The rise of the legal operations function within the corporate legal department speaks to the role that technology is now playing. A significant proportion of the work that legal operations personnel focus on is technology adoption and operation (as an aside, the Corporate Legal Operations Council (CLOC) should be lauded for all they have done in the past 7 years to raise the status of the profession). Indeed there are tentative steps to promote an even more niche job role – the contract ops professional which sits within the legal ops function. Last year Gartner estimated that spending within corporate legal tech departments would increase threefold by 2025, as General Counsels and Chief Legal Officers look to technology to drive improved efficiencies and greater productivity in-house, rather than raising spend on more personnel or outside counsel. Across the legal tech landscape, contract management attracts the greatest level of investment, which may reflect its broad scope and the status of CLM (contract lifecycle management) as the ERP or CRM for the legal function.

It should therefore be a concern to all stakeholders when, in the same report, Gartner also states that by 2025, corporate legal departments will only capture 30% of the potential benefits of their CLM investments. Gartner cites the seemingly narrow focus on technology roadmaps rather than user needs and business requirements as a principal cause for this. If one considers the PPT framework for organizational transformation, predictable success only comes when there is a balance across People, Processes, and Technology. Pivoting too much on one vector at the expense of the others is less likely to beget success. Vendors and legal tech commentators alike talk of the efficiency gains to be had by implementing the latest CLM tech, but less is said about the methodologies that will lead to a successful outcome. Too often a ‘big bang” approach is taken whereby a full suite of tech is selected and yet the implications for rolling out across departments are poorly considered, both from a people and a process perspective. The concept of an ROI is understood and desired but is seemingly difficult to measure. Desired outcomes are not fully agreed upon across the business, and the functions that principally initiate the contract lifecycle, namely sales and procurement, are often not brought fully into the implementation from the outset. 

But there are winds of change afoot.  Much progress is being driven by AI. A lot of the capital being injected into new legal tech firms is focused on some branch of NLP/ML or deep analytics. Similar to how fixed-line phones have been replaced by cellular phones, legal departments are moving away from manual and labor-intensive contracting in favor of the newest technology. The GC in the corporate world is gaining prominence in the C-suite and legal tech is raising its profile within the CIO and CTO communities.

The question is, where do you start on the legal tech investment journey? Is it with a big-bang, enterprise-wide deployment of a contract repository and workflow, a la CLM? or in a more specific and controlled area, like contract negotiation or contract analytics? Optimally the place to start is where the pain is most acute, and for many organizations that will be in the negotiation phase of contracting, where the resources are the scarcest and the most expensive where lawyers are negotiating with lawyers. Getting time to value for a contract means reducing the manual nature of contract negotiations, optimizing the redlining process, and putting some power and autonomy in the hands of the contract initiators: those on the buy-side in procurement and those on the sell-side in sales.

The future for legal tech as a sector remains very positive and investment continues to roll in. However wide-scale adoption is still some way off and success stories are thin on the ground. Understanding the PPT framework and ensuring a balance across all 3 vectors is the only way to raise that 30% of the potential gains into the top quartile.

Share this article to:

We use cookies to personalize content and to ensure you get the best experience on our website. Thank you for visiting

View more
Cookies settings
Privacy & Cookie policy
Privacy & Cookies policy
Cookie name Active

What information do we collect?

We collect information from you when you register on our site or place an order. When ordering or registering on our site, as appropriate, you may be asked to enter your: name, e-mail address or mailing address.

What do we use your information for?

Any of the information we collect from you may be used in one of the following ways: To personalize your experience (your information helps us to better respond to your individual needs) To improve our website (we continually strive to improve our website offerings based on the information and feedback we receive from you) To improve customer service (your information helps us to more effectively respond to your customer service requests and support needs) To process transactions Your information, whether public or private, will not be sold, exchanged, transferred, or given to any other company for any reason whatsoever, without your consent, other than for the express purpose of delivering the purchased product or service requested. To administer a contest, promotion, survey or other site feature To send periodic emails The email address you provide for order processing, will only be used to send you information and updates pertaining to your order.

How do we protect your information?

We implement a variety of security measures to maintain the safety of your personal information when you place an order or enter, submit, or access your personal information. We offer the use of a secure server. All supplied sensitive/credit information is transmitted via Secure Socket Layer (SSL) technology and then encrypted into our Payment gateway providers database only to be accessible by those authorized with special access rights to such systems, and are required to?keep the information confidential. After a transaction, your private information (credit cards, social security numbers, financials, etc.) will not be kept on file for more than 60 days.

Do we use cookies?

Yes (Cookies are small files that a site or its service provider transfers to your computers hard drive through your Web browser (if you allow) that enables the sites or service providers systems to recognize your browser and capture and remember certain information We use cookies to help us remember and process the items in your shopping cart, understand and save your preferences for future visits, keep track of advertisements and compile aggregate data about site traffic and site interaction so that we can offer better site experiences and tools in the future. We may contract with third-party service providers to assist us in better understanding our site visitors. These service providers are not permitted to use the information collected on our behalf except to help us conduct and improve our business. If you prefer, you can choose to have your computer warn you each time a cookie is being sent, or you can choose to turn off all cookies via your browser settings. Like most websites, if you turn your cookies off, some of our services may not function properly. However, you can still place orders by contacting customer service. Google Analytics We use Google Analytics on our sites for anonymous reporting of site usage and for advertising on the site. If you would like to opt-out of Google Analytics monitoring your behaviour on our sites please use this link (

Do we disclose any information to outside parties?

We do not sell, trade, or otherwise transfer to outside parties your personally identifiable information. This does not include trusted third parties who assist us in operating our website, conducting our business, or servicing you, so long as those parties agree to keep this information confidential. We may also release your information when we believe release is appropriate to comply with the law, enforce our site policies, or protect ours or others rights, property, or safety. However, non-personally identifiable visitor information may be provided to other parties for marketing, advertising, or other uses.


The minimum information we need to register you is your name, email address and a password. We will ask you more questions for different services, including sales promotions. Unless we say otherwise, you have to answer all the registration questions. We may also ask some other, voluntary questions during registration for certain services (for example, professional networks) so we can gain a clearer understanding of who you are. This also allows us to personalise services for you. To assist us in our marketing, in addition to the data that you provide to us if you register, we may also obtain data from trusted third parties to help us understand what you might be interested in. This ‘profiling’ information is produced from a variety of sources, including publicly available data (such as the electoral roll) or from sources such as surveys and polls where you have given your permission for your data to be shared. You can choose not to have such data shared with the Guardian from these sources by logging into your account and changing the settings in the privacy section. After you have registered, and with your permission, we may send you emails we think may interest you. Newsletters may be personalised based on what you have been reading on At any time you can decide not to receive these emails and will be able to ‘unsubscribe’. Logging in using social networking credentials If you log-in to our sites using a Facebook log-in, you are granting permission to Facebook to share your user details with us. This will include your name, email address, date of birth and location which will then be used to form a Guardian identity. You can also use your picture from Facebook as part of your profile. This will also allow us and Facebook to share your, networks, user ID and any other information you choose to share according to your Facebook account settings. If you remove the Guardian app from your Facebook settings, we will no longer have access to this information. If you log-in to our sites using a Google log-in, you grant permission to Google to share your user details with us. This will include your name, email address, date of birth, sex and location which we will then use to form a Guardian identity. You may use your picture from Google as part of your profile. This also allows us to share your networks, user ID and any other information you choose to share according to your Google account settings. If you remove the Guardian from your Google settings, we will no longer have access to this information. If you log-in to our sites using a twitter log-in, we receive your avatar (the small picture that appears next to your tweets) and twitter username.

Children’s Online Privacy Protection Act Compliance

We are in compliance with the requirements of COPPA (Childrens Online Privacy Protection Act), we do not collect any information from anyone under 13 years of age. Our website, products and services are all directed to people who are at least 13 years old or older.

Updating your personal information

We offer a ‘My details’ page (also known as Dashboard), where you can update your personal information at any time, and change your marketing preferences. You can get to this page from most pages on the site – simply click on the ‘My details’ link at the top of the screen when you are signed in.

Online Privacy Policy Only

This online privacy policy applies only to information collected through our website and not to information collected offline.

Your Consent

By using our site, you consent to our privacy policy.

Changes to our Privacy Policy

If we decide to change our privacy policy, we will post those changes on this page.
Save settings
Cookies settings

BLACKBOILER AI Contract Review Software