Navigating Legal Budgeting in Uncertain Times: Insights for 2024

About the Webinar

As in-house leaders prepare to dive into the intricate web of legal budgeting for 2024, it's evident that change is the only constant. In-house teams are experiencing a surge in work volume and complexity – in fact, according to a recent Axiom survey, 99% of in-house legal leaders report increasing volume and complexity of legal matters, yet 92% say the legal department is under-resourced relative to those legal matters. And at the same time, nearly 100% saw budget cuts this year. 

As we prepare for the year ahead, legal departments are facing a perfect storm of challenges, and it’s clear that agility is more important than ever. Join us as our panel explores key trends impacting legal teams in 2024, budgeting pain points, and potential budgeting solutions that can empower legal leaders to navigate uncertainty in the year ahead. 

2024 Budgeting Pain Points: 

• Discover how legal departments universally grapple with the escalating volume and complexity of legal matters. 
• Uncover the stark reality of resource shortages and the lack of specialized expertise within legal teams. 

Key Trends Shaping Legal Budgeting: 

• Explore key trends legal leaders are considering when planning their 2024 budgets. 
• Learn where in-house legal leaders anticipate the greatest need for support in the coming year. 

Innovative Budgeting Solutions for 2024: 

• Delve into the inadequacies of traditional hiring strategies, and why adding more full-time employees may not be the solution. 
• Explore how Agility-Based Budgeting (ABB) is transforming budgeting models for economic volatility. 
• Learn how ABB reduces fixed costs and offers the flexibility to address evolving legal needs. 

Strategies for Implementation: 

• Understand how ABB empowers legal leaders to leverage a combination of budgeting models for optimal outcomes. 
• Discover the practical steps to variabilize the legal cost base, shifting from fixed to flexible resources. 
• Learn about the importance of transparent KPIs and quarterly forecasting in driving effective budget management. 

By attending this webinar, legal professionals, general counsel, and legal operations leaders will gain actionable insights into the dynamics of legal budgeting in 2024. Join us to uncover the essential strategies that can help you overcome challenges, optimize budget allocation, and enhance legal outcomes. 

Register now to be equipped with the knowledge to navigate the evolving landscape of legal budgeting.