Harbor

Approximately half the law firms Harbor surveyed in our annual Billing & Revenue Cycle Survey are adding new roles, such as revenue cycle analyst, practice-specific specialist, or matter management specialist. Christine Indiano of Harbor shares best practices for implementing these roles in this article, originally published in Law360 Pulse: https://lnkd.in/eXpR_VsY #legalbusiness #businessoflaw

Over the last four months, I’ve been working with several Australian law firms preparing for the AML and CTF regulations. It’s clear that there’s a tremendous opportunity to draw on lessons learned from UK and European firms—both to streamline compliance by April 2026 and to manage costs effectively.   In my latest article, I share practical insights and strategies to help firms approach this challenge with confidence   Read the full article and connect with Harbor and Scott Sonter if your firm is looking to implement or refine a risk-based approach tailored to your needs. #AML #CTF #LawFirms

This week we are announcing the release of benchmarking data from our 21st annual survey of corporate law departments, in collaboration with CLOC (Corporate Legal Operations Consortium). The 2024 Harbor Law Department Survey found that as 83% of departments anticipate continued growth in overall demand for legal services, managing the workload and bandwidth of internal resources is the top challenge identified by 63% of respondents. In addition, the adoption of AI has increased significantly, with 30% reporting that they have an AI tool currently implemented and in use, up from 18% in 2023, and 54% considering implementation in the next 1 to 2 years, up from 40% last year. “The pressures faced by corporate law departments today are very real. With increasing concerns over costs, headcount remains unchanged for over half the respondents in our survey, leaving in-house teams contending with growing workloads,” said Lauren Chung, survey editor and practice lead for Strategy + Transformation, Harbor. “Department leaders are asking what value technology can deliver over the next few years – from newer AI tools to upgrades of existing systems – and how they can better equip and support their teams so they can deliver on increased expectations for legal services delivery.” Since 2004, the Harbor Law Department Survey has gathered benchmarking data on legal spending, staffing, operations, and technology, providing both in-house leaders and their law firm counterparts with a holistic view of law department priorities and challenges. The 2024 survey of 186 law departments, the majority of which are in Fortune 500 companies, was conducted for the first time in collaboration with CLOC. Informed by CLOC’s expertise, this edition features an expanded section on legal operations as well as AI trends. Read the full press release here: https://lnkd.in/eN5sTykh Further information on gaining access to in-depth benchmark data relevant to your corporation or law firm is available here: https://lnkd.in/eD-Bu9wN #legalops #legaloperations #legaltech #legaltechnology #lawdepartmentsurvey

Read full story here: https://bit.ly/4gwED4e #Legaltech #AI #ArtificialIntelligence #Law Harbor

Excited to join Shelle, Greg, and Hal for this discussion! At Harbor Labs we’ve been in the trenches with our clients this year, tackling some of the most innovative contract-powered use cases I’ve ever seen. As the year winds down, it’s the perfect time to reflect on these successes and look ahead to what’s next. I’d love for you to join us for this session. If you can’t make it, feel free to reach out—I’d be happy to connect 1:1 to share insights or answer questions.

🔍 How will contract AI redefine success in 2025 and beyond? This Thursday, join Shelle Elzer (NetApp), Justin Hectus (Harbor), Greg Bennett (Workday), and Hal Marcus (Evisort) for a conversation about the strategies, wins, and challenges reshaping contracts—and what’s coming next. 📅 Thursday, December 12 🕐 1 PM ET / 10 AM PT ✨ Join us! https://lnkd.in/gDsqvV5r #AI #Webinar #CLM

Sustainability is top of mind for our employees, our clients, and our communities. In lieu of client gifts this holiday season, Harbor is donating to Oceana – an international organization dedicated to protecting and restoring the world’s oceans. We appreciate the deep trust that the legal community has put in Harbor. As we sprint to the finish of what has been a tremendous year, please take a moment to check out Oceana and explore ways in which we can all help our oceans and marine life for a healthier future. #legaltech #legalops #legalbusiness #businessoflaw #businesstransformation

"There is a general concern among law firm management around this topic, but ultimately what it means for law firms' business models still feels like a pretty open question," said Sean Monahan, senior director in the strategy and transformation practice at consulting firm Harbor Global. There is a tension between corporate clients' expectations of some level of cost savings as their outside counsel invest in AI, and the reality that for many law firms AI has been a massive cost when it comes to buying the technology, training staff and implementing its use, Monahan said. "They are hearing from clients, 'If you can do this faster, this should be reflected in our bills.' But firms are saying, 'We are putting a huge amount of time and money and energy into this, but we're barely able to pass along savings because of the huge up-front investment,'" he said. #businessoflaw #legaltech #legalAI #legalops