Technology, still a challenge for legal advisory services

The use of new technologies is the main challenge facing corporate legal advisory services. A study based on 59 interviews with legal directors of large Spanish companies states that up to 54% of respondents understand that their "great challenge" is to optimize the services provided through the use of technology "at a time of great regulatory complexity and greater demands for transparency." This will force advisory services to optimize their operations in terms of regulatory compliance and corporate governance. On the other hand, the other 52% of the executives interviewed point to "greater risk control" as another of the challenges they will have to face. A large part of the interviewees say they do not have the necessary tools to capture relevant information from other areas of the companies that would help them manage and prevent legal risks. Another aspect highlighted by the respondents is the need for a more international profile of lawyers.